Bright Minds Biosciences Inc. - DRUG STOCK NEWS

Bright Minds Biosciences has received a notification from NASDAQ regarding non-compliance with the minimum bid price requirement due to shares closing below $1.00 for thirty consecutive business days. The Company has until July 25, 2023, to regain compliance by achieving a closing bid price of at least $1.00 for ten consecutive business days. Despite this notification, trading of the Company's shares will continue uninterrupted. Bright Minds focuses on developing innovative treatments for neuropsychiatric disorders, aiming to create safer and more effective drugs compared to first-generation compounds.

Bright Minds Biosciences (BMB) announced the resignation of Dr. Doug Williamson from its Board of Directors as he transitions to a new full-time role. Dr. Williamson's contributions during his brief tenure were acknowledged for their value in advancing the company's mission to develop innovative treatments for neuropsychiatric disorders, including resistant epilepsy and treatment-resistant depression.

CEO Ian McDonald expressed gratitude for Dr. Williamson's service and commitment to enhancing patient lives through novel therapeutics, highlighting the company's focus on developing next-generation drugs with improved efficacy and reduced side effects.

Bright Minds Biosciences (BMBIF, DRUG) announced the appointment of Dr. Mark A. Smith as Chief Medical Officer effective December 1, 2022. Dr. Smith, a veteran with extensive CNS clinical development experience, replaces Dr. Revati Shreeniwas. His previous roles include leadership positions at VistaGen Therapeutics and Teva Pharmaceuticals. Dr. Smith will contribute to the clinical implementation of BMB-101, a promising drug candidate aimed at treating Dravet syndrome. The company focuses on developing innovative treatments for neuropsychiatric disorders and epilepsy.

Bright Minds Biosciences has initiated a Phase I clinical trial for its lead drug, BMB-101, targeting Dravet Syndrome. The trial, involving approximately 76 healthy volunteers, aims to assess the drug's safety and pharmacokinetics. Notably, BMB-101 has shown promising results, significantly reducing the number and intensity of epileptic seizures in predictive animal models. Bright Minds aims to provide a safer therapeutic option for this rare and severe epilepsy condition, which currently has limited treatment options.

Bright Minds Biosciences (BMB) has issued a statement in response to the Investment Industry Regulatory Organization of Canada regarding increased trading activity and stock price changes. The Company clarified that it is unaware of any undisclosed corporate developments or material changes affecting its business that might explain the recent surge in trading volume.

Bright Minds specializes in developing innovative treatments for neuropsychiatric disorders, epilepsy, and pain, with a focus on serotonin agonists aimed at improving therapeutic outcomes while reducing side effects compared to existing treatments.

Bright Minds Biosciences (Nasdaq: DRUG) announced the departure of Chief Scientific Officer Dr. Alan Kozikowski, who played a crucial role in the company's early development. As the company transitions from drug discovery to clinical phases, Jan Torleif Pedersen, a current Board member, will serve as interim CSO. BMB-101, the company's leading drug candidate, shows promise in treating neuropsychiatric disorders. Bright Minds focuses on innovative treatments that minimize side effects compared to traditional psychedelic compounds.

Bright Minds Biosciences (Nasdaq: DRUG), a biotechnology firm, announced a symposium on May 19, 2022, focusing on Dravet Syndrome and therapeutic advancements. Key Opinion Leaders, including CEO Ian McDonald and experts from UCSF and Cook Children’s, will discuss BMB-101, the company's leading drug candidate for Dravet syndrome. Additionally, the company issued 100,000 restricted share units and 25,000 common shares to board members. BMB-101 is a selective 5-HT2C agonist, showing promise in treating neuropsychiatric disorders and addiction.

Bright Minds Biosciences announced a symposium for May 19, 2022, focusing on updates regarding BMB-101, its lead program for Dravet Syndrome treatment. Key speakers include CEO Ian McDonald and CMO Dr. Revati Shreeniwas. The event will feature expert discussions and a Q&A session. Additionally, the company has issued 60,000 RSUs related to consulting agreements and plans to issue 25,000 common shares, both subject to vesting and hold periods. Dravet Syndrome, affecting approximately 1:15,700 individuals in the U.S., represents a significant unmet medical need.

Bright Minds Biosciences (Nasdaq: DRUG) announced the successful completion of 28-day repeat-dose toxicity studies for its lead product, BMB-101, with no major toxicological findings observed. Conducted by ITR Laboratories Canada, the studies confirmed that BMB-101 was well tolerated in both mice and dogs at doses of up to 40 and 30 mg/kg/day, respectively. The results support the forthcoming first-in-human clinical trial anticipated in Q2 2022. Dr. Revati Shreeniwas noted the potential of BMB-101 as a treatment for Dravet Syndrome, highlighting a significant unmet need in this area.