Bright Minds In Action Learning Village

Bright Minds Biosciences Announces Receipt of Nasdaq Notification Letter Regarding Minimum Bid Price Deficiency

Retrieved on: 
Friday, January 27, 2023
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VANCOUVER, British Columbia, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”) announces that it has received a notification letter (the “Notification Letter”) from the Nasdaq Stock Market LLC (“NASDAQ”) dated January 26, 2023, notifying the Company that due to thirty consecutive business days of closing bid prices for the common shares in the capital of the Company (the “Shares”) being below US$1.00 per Share, Bright Minds is not compliant with the minimum bid price requirement set forth in NASDAQ Listing Rule 5550(a)(2).

Key Points: 
  • VANCOUVER, British Columbia, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”) announces that it has received a notification letter (the “Notification Letter”) from the Nasdaq Stock Market LLC (“NASDAQ”) dated January 26, 2023, notifying the Company that due to thirty consecutive business days of closing bid prices for the common shares in the capital of the Company (the “Shares”) being below US$1.00 per Share, Bright Minds is not compliant with the minimum bid price requirement set forth in NASDAQ Listing Rule 5550(a)(2).
  • The Company has been provided 180 calendar days, being until July 25, 2023 (the “Compliance Period”), to regain compliance, which may be done by having a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days during the Compliance Period.
  • The receipt of the Notification Letter has no immediate effect on the listing of the Company’s Shares, which will continue to trade uninterrupted on each of the Canadian Securities Exchange and NASDAQ under the symbol “DRUG.” To address the issue, the Company will continuously monitor its closing bid prices between now and July 25, 2023, and evaluate its options to regain compliance with NASDAQ Listing Rule 5550(a)(2) before such date.
  • The Company anticipates resolving the deficiency within the compliance period.

Bright Minds Biosciences Announces Closing of Non-Brokered Private Placement

Retrieved on: 
Saturday, December 3, 2022
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VANCOUVER, British Columbia, Dec. 02, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”) is pleased to announce that, further to its news release on November 28, 2022, it has closed a non-brokered private placement of (i) 666,000 pre-funded warrants of the Company (“PFWs”) at a price of $1.249 per PFW (the “PFW Offering”), and (ii) 974,000 units of the Company (“Units”) at a price of $1.25 per Unit (the “Unit Offering”), for aggregate gross proceeds of $2,049,334.

Key Points: 
  • Each Unit is comprised of one common share in the capital of the Company (a Share) and one common share purchase warrant (a Warrant).
  • Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain.
  • Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as resistant epilepsy, treatment resistant depression, PTSD, and pain.
  • Bright Minds drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as psilocybin.

Bright Minds Biosciences Announces Non-Brokered Private Placement

Retrieved on: 
Monday, November 28, 2022
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VANCOUVER, British Columbia, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”) is pleased to announce a non-brokered private placement of (i) pre-funded warrants of the Company (“PFWs”) at a price of $1.249 per PFW (the “PFW Offering”), and (ii) units of the Company (“Units”) at a price of $1.25 per Unit (the “Unit Offering”).The aggregate minimum gross proceeds of the Unit Offering and the PFW Offering, on a combined basis, is $1,000,000 (the “Minimum Offering”) and the aggregate maximum gross proceeds of the Unit Offering and the PFW Offering, on a combined basis, is $2,050,000. The Company, in its sole discretion, may determine the number of PFWs issued pursuant to the PFW Offering and the number of Units issued pursuant to the Unit Offering, provided that the aggregate proceeds raised is equal to or above the Minimum Offering amount.

Key Points: 
  • The Unit Offering and the PFW Offering may close on one or more dates as the Company may determine.
  • Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain.
  • Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as resistant epilepsy, treatment resistant depression, PTSD, and pain.
  • Bright Minds drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as psilocybin.

Bright Minds Biosciences Appoints Drug Development Executive Mark A. Smith M.D., Ph.D. as Chief Medical Officer

Retrieved on: 
Wednesday, November 23, 2022
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VANCOUVER, British Columbia, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company focused on developing novel drugs for the targeted treatment of neuropsychiatric disorders, epilepsy, and pain, today announced that Mark A. Smith M.D., Ph.D. will join the Company as Chief Medical Officer, effective December 1, 2022. The Company also announces that Dr. Revati Shreeniwas’ engagement with Bright Minds as Chief Medical Officer has been terminated.

Key Points: 
  • The Company also announces that Dr. Revati Shreeniwas engagement with Bright Minds as Chief Medical Officer has been terminated.
  • A seasoned executive in CNS drug development, Dr. Smith has directed over 50 clinical trials across all stages of development.
  • Its an exciting time to join Bright Minds with the Phase I trial for its lead program, BMB-101, currently underway.
  • Prior to joining Bright Minds, Dr. Smith was Chief Medical Officer at VistaGen Therapeutics, where he led the clinical development of drug candidates in the areas of major depression, social anxiety disorder, and depression through all phases of development.

Bright Minds Biosciences Announces Appointment of Doug Williamson to Board of Directors

Retrieved on: 
Wednesday, September 7, 2022
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VANCOUVER, British Columbia, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences (“Bright Minds,” “BMB” or the “Company”) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company focused on developing novel drugs for the targeted treatment of neuropsychiatric disorders, epilepsy, and pain, today announced the appointment of Doug Williamson to the Company’s Board of Directors (the “Board”). Dr. Williamson will serve on the Compensation, Nominating and Corporate Governance, and Audit Committees as an independent director. Concurrently, Dr. Alan Kozikowski has resigned from the Board.

Key Points: 
  • Dr. Williamson will serve on the Compensation, Nominating and Corporate Governance, and Audit Committees as an independent director.
  • Dr. Williamson has an impressive track record in developing safe and profitable pharmaceuticals and biotechnologies for global industry leaders.
  • With his reputation for generating quality results while improving ROI and building high-performance, engaged teams, we are thrilled to welcome Dr. Williamson to the Board, stated Ian McDonald, CEO and Co-founder of Bright Minds Biosciences.
  • BMB-101 is the subject of a patent licensed by Bright Minds Biosciences from the University of Illinois.

Bright Minds Biosciences Initiates Dosing in Phase I Clinical Trial of BMB-101 for Dravet Syndrome

Retrieved on: 
Wednesday, August 31, 2022
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The Phase I trial is being conducted in Adelaide, Australia, by CMAX Clinical Research, a clinical trial center specializing in a range of early-phase trials and first-time in-human studies.

Key Points: 
  • The Phase I trial is being conducted in Adelaide, Australia, by CMAX Clinical Research, a clinical trial center specializing in a range of early-phase trials and first-time in-human studies.
  • The trial aims to evaluate the safety, tolerability and other pharmacokinetics of BMB-101 for use in Phase II clinical trials.
  • Dosing the initial subject in the first-in-human trial of BMB-101 is an exciting milestone for Bright Minds.
  • Forward looking information in this news release contains information related to the Phase I clinical trial and the future therapeutic potential of BMB-101.

Bright Minds Biosciences Announces Closing of $4 Million Unit Offering

Retrieved on: 
Tuesday, August 30, 2022
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VANCOUVER, British Columbia, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”) is pleased to announce that it has closed its previously announced overnight marketed offering (the “Offering”) of 2,858,000 units of the Company at a price of $1.40 per Unit for gross proceeds of approximately $4 million. Eight Capital (the “Agent”) acted as lead agent and sole bookrunner in connection with the Offering and H.C. Wainwright & Co. acted as U.S. capital markets advisor (the “Advisor”).

Key Points: 
  • VANCOUVER, British Columbia, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (Bright Minds or the Company) is pleased to announce that it has closed its previously announced overnight marketed offering (the Offering) of 2,858,000 units of the Company at a price of $1.40 per Unit for gross proceeds of approximately $4 million.
  • Eight Capital (the Agent) acted as lead agent and sole bookrunner in connection with the Offering and H.C. Wainwright & Co. acted as U.S. capital markets advisor (the Advisor).
  • Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain.
  • Bright Minds drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as psilocybin.

Bright Minds Announces Pricing of Overnight Marketed Offering of Units

Retrieved on: 
Wednesday, August 24, 2022
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VANCOUVER, British Columbia, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (“Bright Minds” or the “Company”) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company focused on developing novel drugs for targeted treatment of neuropsychiatric disorders, epilepsy and pain, is pleased to announce the pricing of its previously announced overnight marketed offering of an aggregate of 2,858,000 units of the Company (the “Units”) at a price of $1.40 per Unit, for aggregate gross proceeds of $4,001,200 (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of $1.76 for a period of 24 months from the closing date. Eight Capital is acting as lead agent in connection with the Offering (the “Agent”). H.C. Wainwright & Co. is acting as US Capital Markets advisor to the Company (the “Advisor”). The closing of the Offering will be subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including any required approval of the Canadian Securities Exchange or NASDAQ and entry into an agency agreement between the Agent and the Company.

Key Points: 
  • VANCOUVER, British Columbia, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (Bright Minds or the Company) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company focused on developing novel drugs for targeted treatment of neuropsychiatric disorders, epilepsy and pain, is pleased to announce the pricing of its previously announced overnight marketed offering of an aggregate of 2,858,000 units of the Company (the Units) at a price of $1.40 per Unit, for aggregate gross proceeds of $4,001,200 (the Offering).
  • Eight Capital is acting as lead agent in connection with the Offering (the Agent).
  • The Base Prospectus contains, and the Prospectus Supplement will contain, important detailed information about the Company and the proposed Offering.
  • Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain.

Bright Minds Announces Overnight Marketed Offering of Units

Retrieved on: 
Tuesday, August 23, 2022
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VANCOUVER, British Columbia, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (“Bright Minds” or the “Company”) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company focused on developing novel drugs for targeted treatment of neuropsychiatric disorders, epilepsy and pain, is pleased to announce that is has entered into a letter of engagement with Eight Capital, under which Eight Capital has been appointed as agent in connection with the offer for sale units of the Company (the “Units”) on a best efforts overnight marketed basis (the “Offering”).

Key Points: 
  • The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing.
  • There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
  • The Base Prospectus contains, and the Prospectus Supplement will contain, important detailed information about the Company and the proposed Offering.
  • Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain.

Bright Minds Biosciences Comments on Recent Trading Activity

Retrieved on: 
Thursday, August 18, 2022
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VANCOUVER, British Columbia, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences (Bright Minds, BMB or the Company) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company focused on developing novel drugs for targeted treatment of neuropsychiatric disorders, epilepsy and pain, is issuing this news release in response to a request by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on recent trading activity of its stock.

Key Points: 
  • VANCOUVER, British Columbia, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences (Bright Minds, BMB or the Company) (Nasdaq: DRUG) (CSE: DRUG), a biotechnology company focused on developing novel drugs for targeted treatment of neuropsychiatric disorders, epilepsy and pain, is issuing this news release in response to a request by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on recent trading activity of its stock.
  • In accordance with applicable disclosure requirements, the Company will advise the market of material changes, if any when they occur.
  • Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain.
  • Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as resistant epilepsy, treatment resistant depression, PTSD, and pain.