Wall Street is welcoming yet another company working with psychedelic molecules for mental health and neurological treatments.
Bright Minds Biosciences DRUG received approval on Wednesday to effectively list its stock on the Nasdaq starting next Monday, November 8 under the symbol “DRUG.”
The company is developing novel drugs for targeted treatment of neuropsychiatric disorders, epilepsy and pain by using molecules derived from compounds in the psychedelic class.
“Our listing on Nasdaq marks an important corporate milestone for Bright Minds, as we continue to advance our innovative drug candidates in pursuit of an improved generation of targeted serotonin-based therapies,” stated Ian McDonald, CEO and co-founder of Bright Minds Biosciences.
“With encouraging preclinical data across several indications, we are progressing toward first-in-human trials with our lead drug candidate, BMB-101, for the treatment of Dravet syndrome, a devastating congenital and genetic disease affecting the nervous system. We expect to commence the trials in the first half of 2022,” McDonald continued.
Bright Minds has a portfolio of next-generation serotonin agonists (compounds similar to LSD, psilocybin and DMT) designed to target neurocircuit abnormalities that are responsible for disorders such as resistant epilepsy, treatment-resistant depression, PTSD and pain.
Its lead drug candidate, BMB-101, has demonstrated compelling activity in in-vitro and in-vivo non-clinical tests, reported the company.
Bright Minds also expects to deploy the compound in the treatment of Dravet syndrome, an epilepsy syndrome that begins in infancy or early childhood and can include a spectrum of symptoms ranging from mild to severe.
“Bright Minds is also committed to delivering significant returns to our shareholders. Trading on the world’s most liquid market in which all investors can participate helps us continue to actualize that objective,” concluded McDonald.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.