DRUG Stock — Bright Minds Biosciences Inc.: Cash, EV, Pipeline

What they do

The Company is a biotechnology company developing innovative treatments for patients with neurological and psychiatric disorders. Our pipeline includes novel compounds targeting key receptors in the brain to address conditions with high unmet medical need, including epilepsy, depression, and other central nervous system (CNS) disorders.

Source: 20-F FY2024 via SEC EDGAR

Share price

$23.00

Market cap

$225.8M

Cash

$4.2M

Enterprise value

$221.6M

Balance sheet

Cash	$4.2M
Debt	$0.0M
Net cash	$4.2M
Enterprise value	$221.6M
Basic shares	7.6M shares
Fully diluted shares	8.5M shares
Fully diluted market cap	$194.7M
Cash per share	$0.55

Cash figures as of 2024-09-30. Database snapshot: 2026-11-07.

Share structure

Common

7.6M

Pre-funded warrants

0.0M

Options

0.4M

RSUs

0.1M

Warrants

0.4M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

8.5M

Cap table as of 2025-09-30.

Price history

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Next catalyst

BMB-101 · Dec 13, 2026 - Jan 24, 2027 in 5 wks · Phase 2 · Prader-Willi Syndrome

Recently reported

BMB-101 Mixed · 2026-01-06

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 13, 2026 - Jan 24, 2027 in 5 wks	BMB-101	Phase 2	Prader-Willi Syndrome	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

BMB-101

Phase 2 · Active Modality: selective 5-HT2C agonist (biased agonism; novel scaffold from structure-based drug design)

Target 5-HT2C receptor

Partnerships NIH Epilepsy Therapy Screening Program (ETSP) collaboration (epilepsy); confidential collaboration in Belgium (Dravet zebrafish/mouse models); UIC exclusive license (Apr 2021, 5-HT2C IP family)

Indications

Drug-resistant epilepsies (Developmental and Epileptic Encephalopathies, Absence epilepsies) (Phase 2)

Status note Lead program; completed Phase 1; Phase 2 trials initiated in 2024. Note: filing is a 20-F for FY2024 (period end Sep 30, 2024, filed Dec 31, 2024); statuses reflect late 2024.

BMB-201 / BMB-202

Preclinical · Active Modality: selective 5-HT2A agonists

Target 5-HT2A receptor

Partnerships NIH Preclinical Screening Platform for Pain (PSPP) collaboration

Indications

Neuropsychiatry and neurology indications (Preclinical)

Status note Undergoing IND-enabling studies.

Per-asset detail extracted from the 20-F filed 2024-12-31. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	BMB-101
Lead indication	Absence Epilepsy
Lead phase	Phase 2
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07266324	Phase 2	Not yet recruiting	Sponsor	Bright Minds Biosciences Pty Ltd	—	Prader-Willi Syndrome	—
NCT06401538	Phase 2	Recruiting	Sponsor	Bright Minds Biosciences Pty Ltd	—	Absence Epilepsy; Jeavons Syndrome; Dravet Syndrome	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Bright Minds Biosciences Pty Ltd on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
Cormorant Asset Management	900,000	-159,331	3.24%	2026-08-14
Vivo Capital	557,172	no change	3.57%	2026-08-14
Braidwell LP	483,822	-55,886	1.26%	2026-08-14
Deerfield Management	283,000	no change	0.21%	2026-08-14
RA Capital Management	265,000	no change	0.16%	2026-08-14
Great Point Partners	109,603	-110,397	1.81%	2026-08-14
OrbiMed Advisors	93,000	+53,000	0.12%	2026-08-14
Ikarian Capital	88,951	-77,696	1.02%	2026-08-14
ADAR1 Capital Management	30,300	-3,600	0.10%	2026-08-14
Perceptive Advisors	0	-377,544	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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DRUG — Bright Minds Biosciences Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

DRUG — Bright Minds Biosciences Inc.