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Bright Minds Biosciences Inc.

DRUG

Bright Minds Biosciences Inc. • NASDAQ
$70.00 ▲ 5.80% (+3.84)
Market Cap $495.95 M
52w High $71.49
52w Low $23.18
Dividend Yield 0%
P/E -71.43
Volume 42.02K
Outstanding Shares 7.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $3.296M ▼ $-5.243M ▼ 0% $-0.74 ▼ $-3.28M ▲
Q2-2025 $0 $3.352M ▲ $-2.95M ▼ 0% $-0.66 ▼ $-3.33M ▼
Q1-2025 $0 $1.625M ▲ $49.61K ▲ 0% $0.011 ▲ $-1.603M ▼
Q4-2024 $0 $764.46K ▼ $-749.315K ▼ 0% $-0.17 ▼ $-772.291K ▼
Q3-2024 $0 $887.393K $214.916K 0% $0.048 $252.855K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $51.388M ▼ $52.498M ▼ $667.833K ▼ $51.83M ▼
Q2-2025 $55.68M ▼ $56.469M ▼ $726.812K ▲ $55.743M ▼
Q1-2025 $57.897M ▲ $58.399M ▲ $571.59K ▲ $57.827M ▲
Q4-2024 $5.72M ▼ $6.105M ▼ $568.259K ▲ $5.536M ▼
Q3-2024 $6.19M $6.278M $178.628K $6.099M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.243M ▼ $-3.504M ▼ $0 $-16.87K ▼ $-4.292M ▼ $-3.504M ▼
Q2-2025 $-2.95M ▼ $-2.425M ▼ $0 $225.383K ▼ $-2.217M ▼ $-2.425M ▼
Q1-2025 $49.61K ▲ $-1.494M ▼ $0 $52.041M ▲ $52.177M ▲ $-1.494M ▼
Q4-2024 $-773.441K ▼ $-463.17K ▼ $0 $-23.557K ▼ $-470.152K ▼ $-463.17K ▼
Q3-2024 $229.903K $240.16K $0 $-21.957K $257.808K $240.16K

Five-Year Company Overview

Income Statement

Income Statement Bright Minds is still a pure research-stage biotech: it has no product sales and therefore no revenue so far. The income statement is dominated by ongoing operating and R&D costs, which show up as steady losses each year. Per‑share losses look sizeable, reflecting the cost of running clinical programs without any offsetting income. This pattern is typical for early-stage biotech: expenses ahead of any commercial payback, and results that are very sensitive to changes in funding or trial activity.

Balance Sheet

Balance Sheet The balance sheet is very simple and very lean. Assets are almost entirely cash, with no meaningful physical assets or inventories, and no debt reported. Equity is small but positive, indicating the company has so far funded itself mainly through issuing shares rather than borrowing. The flip side of this minimalist balance sheet is that the company’s future depends heavily on its ability to keep raising capital or securing partners as its trials advance.

Cash Flow

Cash Flow Cash flows reflect the same early-stage profile: money flows out to fund research and operations, and nothing yet flows in from product sales. Operating cash burn appears relatively modest in scale but persistent, which is what you’d expect from a company running clinical and preclinical programs. With essentially no capital spending, free cash flow is mainly a function of how fast they spend on trials and overhead. Over time, continued negative cash flow means external funding or partnerships will likely be needed to sustain the pipeline.

Competitive Edge

Competitive Edge Bright Minds is trying to carve out a focused niche in serotonin-based therapies for neurological and psychiatric conditions. Its edge is built around very selective targeting of serotonin receptors and “biased agonism,” an approach designed to keep the helpful signaling while reducing side effects and tolerance. The company also benefits from specialized scientific talent and a strategy focused on creating new, patentable molecules rather than tweaking old ones. However, it operates in a crowded and fast-moving CNS and psychedelic‑adjacent field, where many better‑funded players are also chasing similar patient populations, so execution and differentiation will be critical.

Innovation and R&D

Innovation and R&D Innovation is the core of the company. Bright Minds has a platform aimed at designing next‑generation serotonergic drugs that avoid known safety issues and improve durability of effect. Its lead program targets difficult epilepsies and is already in mid‑stage human trials, while earlier programs address treatment‑resistant depression, chronic pain, and a rare disorder (Prader‑Willi syndrome). The portfolio is still early, but it shows a clear theme: precision in receptor targeting, attempts to shorten and control psychedelic‑like experiences, and strong emphasis on building patent protection around novel chemical entities. The major uncertainties are clinical: whether the science translates into meaningful, safe benefits in patients and whether timelines and funding can keep pace with the R&D plan.

Summary

Bright Minds is a very early‑stage, research‑heavy biotech with no revenue, consistent losses, and a balance sheet that is almost all cash and no debt. Its investment case rests almost entirely on the success of its serotonergic drug platform and the lead epilepsy program, not on current financial performance. The company appears scientifically ambitious, with a focused strategy, differentiated receptor‑targeting approach, and an emerging IP estate. On the other hand, it faces the usual high risks of biotech: trial failure, funding needs, competition from larger firms, and long timelines before any potential commercial payoff. Progress on clinical trial results, pipeline advancement into later stages, and any partnering activity will likely be the main drivers of how its story evolves from here.

NEWS

November 25, 2025 · 4:30 PM UTC

Bright Minds Biosciences to Present at Piper Sandler 37th Annual Healthcare Conference and 2025 AES Annual Meeting

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November 17, 2025 · 6:50 AM UTC

Bright Minds Biosciences Expands Scientific Advisory Board to Include Renowned Experts in Prader-Willi Syndrome (PWS)

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November 6, 2025 · 6:30 AM UTC

Bright Minds Biosciences Initiates New Prader-Willi Syndrome (PWS) Program; KOL Event Scheduled for November 6TH

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