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Bright Minds Biosciences Inc.: A Selective Serotonin Agonist Moving From Phase 2 Epilepsy Data Toward Registrational Planning

Maker Capital Research2026-10-0310 min read
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Clinical-Stage Neurology CSE: DRUG | Nasdaq: DRUG

Cash, Jun 30, 2026
C$307.8M
Q3 MD&A, Aug 13, 2026
Absence seizures
73.1%
median reduction, n=11, open-label (Jan 6, 2026)
January 2026 offering
US$175.05M
closed Jan 9, 2026
Phase 2 enrolment
24
vs target of 20 (Jan 6, 2026)

Three things to know

  1. On January 6, 2026 the Company reported median reductions of 73.1% in absence seizures (n=11) and 63.3% in DEE major motor seizures (n=6) from its open-label Phase 2 study.
  2. Bright Minds closed a US$175.05 million offering on January 9, 2026 and held C$307.8 million in cash and cash equivalents at June 30, 2026, which its Q3 MD&A states is sufficient for twelve months.
  3. The Company is preparing registrational trials in absence seizures and DEE and stated on September 30, 2026 that its NOVA Phase 2a study in PWS is under way. No dates are disclosed.

Company Profile

Bright Minds Biosciences Inc. (CSE: DRUG | Nasdaq: DRUG) is a clinical-stage biotechnology company developing small molecules designed as highly selective serotonin (5-HT2) receptor agonists for neurological and psychiatric disorders. Incorporated in British Columbia on May 31, 2019, it began trading on the CSE on February 8, 2021 and on Nasdaq on November 8, 2021, and is headquartered in New York, per its MD&A dated August 13, 2026.

The lead candidate is BMB-101, which the Company describes as a novel scaffold 5-HT2C Gq-protein biased agonist designed for chronic treatment of neurological disorders where tolerance and drug resistance are common issues. It has been studied in drug-resistant absence seizures and developmental and epileptic encephalopathies (DEE), and is being evaluated in Prader-Willi Syndrome (PWS).

The Company states that it has not realized a source of revenue.

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