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Bright Minds Biosciences Inc., a biotechnology company, develops therapeutics to improve the lives of patients with severe and life-altering diseases in the United States. Its portfolio includes 5-HT2 Receptors, which are serotonin agonists for epilepsy and neuropsychiatric disorders; and BMB-101, which has completed phase 1 trial for undisclosed seizure disorder and is in phase 2 clinical trials for the developmental and epileptic encephalopathies and absence epilepsies. The company also develops BMB-201 and BMB-202 for the treatment of neuropsychiatric and neurology indications; and BMB-105, a 5-HT2C agonist to treat Prader Willi Syndrome. Bright Minds Biosciences Inc. has a collaboration with Firefly Neuroscience, Inc. to provide an analysis of the electroencephalogram (EEG) data in the Company's BREAKTHROUGH study. The company was founded in 2017 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-14M | $-12M | $-9M | -14.9% | - | 336.5% |
| 2024 | $0M | $-3M | $-3M | $-2M | -50.6% | - | -62.0% |
| 2023 | $0M | $-7M | $-7M | $-7M | -111.7% | - | -50.7% |
| 2022 | $0M | $-15M | $-15M | $-14M | -141.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 0 | 0 | 0 |
| Operating Revenue | - | 0 | 0 | 0 | 0 |
| Operating Expense | - | 14.98 | 7.39 | 2.82 | 13.94 |
| Research And Development | - | 12.18 | 5 | 1.18 | 11.08 |
| Selling General And Administration | - | 2.55 | 2.20 | 1.45 | 2.57 |
| Total Expenses | - | 14.98 | 7.39 | 2.82 | 13.94 |
| Operating Income | - | -14.98 | -7.39 | -2.82 | -13.94 |
| EBITDA | - | -14.97 | -7.31 | -2.75 | -13.86 |
| Normalized EBITDA | - | -14.98 | -7.33 | -2.74 | -14.05 |
| EBIT | - | -14.98 | -7.39 | -2.82 | -13.94 |
| Interest Income | - | 0 | 0 | 0.03 | 1.52 |
| Net Interest Income | - | 0 | 0 | 0.03 | 1.52 |
| Other Non Operating Income Expenses | -0.18 | -0.24 | - | - | - |
| Other Income Expense | - | 0.01 | 0.01 | -0.01 | 0.19 |
| Interest Income Non Operating | - | 0 | 0 | 0.03 | 1.52 |
| Net Non Operating Interest Income Expense | - | 0 | 0 | 0.03 | 1.52 |
| Pretax Income | - | -14.96 | -7.37 | -2.80 | -12.23 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -14.96 | -7.37 | -2.80 | -12.23 |
| Net Income From Continuing And Discontinued Operation | - | -14.96 | -7.37 | -2.80 | -12.23 |
| Net Income From Continuing Operation Net Minority Interest | - | -14.96 | -7.37 | -2.80 | -12.23 |
| Net Income | - | -14.96 | -7.37 | -2.80 | -12.23 |
| Net Income Common Stockholders | - | -14.96 | -7.37 | -2.80 | -12.23 |
| Net Income Including Noncontrolling Interests | - | -14.96 | -7.37 | -2.80 | -12.23 |
| Normalized Income | - | -14.98 | -7.39 | -2.79 | -12.42 |
| Diluted NI Availto Com Stockholders | - | -14.96 | -7.37 | -2.80 | -12.23 |
| Basic Average Shares | - | 2.47 | 3.72 | 4.31 | 6.88 |
| Diluted Average Shares | - | 2.47 | 3.72 | 4.31 | 6.88 |
| Reconciled Depreciation | - | 0.01 | 0.07 | 0.07 | 0.08 |
| Total Unusual Items | - | 0.01 | 0.01 | -0.01 | 0.19 |
| Total Unusual Items Excluding Goodwill | - | 0.01 | 0.01 | -0.01 | 0.19 |
| Special Income Charges | 0 | 0 | 0 | 0 | - |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 | - |
| Gain On Sale Of Security | - | 0.01 | 0.01 | -0.01 | 0.19 |
| General And Administrative Expense | - | 2 | 2.08 | 1.40 | 2.14 |
| Other Gand A | - | 1.90 | 0.92 | 0.91 | 1.64 |
| Salaries And Wages | - | 0.10 | 1.16 | 0.49 | 0.50 |
| Total Other Finance Cost | 0.02 | - | - | - | - |
| Other Operating Expenses | - | 0.24 | 0.19 | 0.20 | 0.29 |
| Selling And Marketing Expense | - | 0.55 | 0.12 | 0.04 | 0.43 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Bright Minds Biosciences Inc.this co. | DRUG | $731M | -59.77 | 8.91 | -14.9% | -46.77 |
| BioAge Labs, Inc. | BIOA | $757M | -9.39 | 2.78 | -29.6% | -7.19 |
| EVMN | EVMN | $745M | -10.82 | 3.63 | -33.5% | -8.82 |
| Omeros Corporation | OMER | $742M | -221.45 | -6.12 | 2.8% | -7.97 |
| HealthStream, Inc. | HSTM | $739M | 40.28 |
| - |
| - |
| - |
| - |
| - |
| 2.09 |
| 5.2% |
| 11.26 |
| Solid Biosciences Inc. | SLDB | $713M | -4.09 | 3.96 | -96.8% | -3.80 |
| CBLL | CBLL | $711M | -13.32 | 4.58 | -34.4% | -13.81 |
| Enhabit, Inc. | EHAB | $707M | -153.68 | 1.32 | -0.9% | 20.09 |
| Allogene Therapeutics, Inc. | ALLO | $704M | -3.69 | 2.41 | -65.3% | -4.15 |
| Peer Median | - | -10.10 | 2.59 | -31.6% | -5.67 | |