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Reported April 19, Bright Minds Biosciences Receives A Favorable Written Opinion From The International Searching Authority For BMB-202
04/20/23 12:44 AM
-- BMB-202 is a highly selective 5-HT2A agonist that exhibits a more than 30-fold selectivity over 5-HT2C and more than 500-fold selectivity over 5-HT2B --
-- BMB-202 is the first clinical candidate from an extensive portfolio of selective 5-HT2A and 5-HT2A/2C agonists inspired from natural compound scaffolds --
VANCOUVER, British Columbia, April 19, 2023 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) ("Bright Minds" or the "Company"), a biotechnology company focused on developing novel drugs for the targeted treatment of neuropsychiatric disorders, epilepsy, and pain, today announced that the International Searching Authority reviewed its international patent application directed to phenethylamine compounds and issued a Written Opinion indicating that Bright Minds' core phenethylamine compounds of interest are novel and inventive over the searched prior art.
Bright Minds recently filed an international patent application (assigned a filing number of PCT/CA2023/050003) directed at compounds that belong to the phenethylamine class of molecules, which the Company believes are potentially best in class compounds with an optimized short half-life, highly potent and extreme selectivity relative to other 5-HT2A agonists in development. Compounds from the Company's 5-HT2A and 5-HT2A/5-HT2C programs are contained in this patent application, including its lead 5-HT2A agonist, BMB 202, as well as other backup and compounds of high interest from both programs. While the Written Opinion is non-binding, the Written Opinion is encouraging news and supports the view that Bright Minds has developed patentable phenethylamine compounds.
"We are very pleased with this favorable opinion and believe that it validates our drug discovery capabilities. This is an important first step in protecting our compounds of interest in jurisdictions around the world, as we continue to pursue innovation in the treatment of multiple brain-related disorders," stated Ian McDonald, CEO of Bright Minds.
About BMB 202
BMB-202 is a highly selective 5-HT2A agonist with proprietary intellectual property. BMB-202 exhibits a more than 30-fold selectivity over 5-HT2C and more than 500-fold selectivity over 5-HT2B. BMB-202 has shown two-fold superior potency compared to psilocin in vitro. As opposed to the first-generation psychedelics, BMB-202 is a full agonist at 5-HT2A receptor and does not have significant activity at other 5-HT receptors. BMB-202 is a fast acting, short duration, Cmax driven compound. We call these fast-on-fast-off compounds with anticipated patient discharge around two hours. BMB-202 exhibits excellent drug-like properties, brain penetrance and has demonstrated antidepressant drug profile in vivo. BMB-202 is the first clinical candidate from an extensive portfolio of selective 5-HT2A and 5-HT2A/2C agonists inspired from natural compound scaffolds.
So yesterday the company announces that they will be filing bankruptcy by the weekend.
Chap 11
and people are actually purchasing the shares?
Makes perfect sense
$4.75 down to the $0.40s
This was one of the most heavily shorted stocks
Pull up a 3-month chart and look at the volume bars just over the last 72 hours in comparison to the volume on a daily basis since January
There's got to be some inside, phase or clinical trial positivity going on within the company that we just don't know about.
This stock has been a real monster in the past. I'm just waiting for them to come out with the news and an epic run on the shares will be the result
If DRUG pops up over $1/share, the shorts that have been keeping their boots on this stock's neck will begin to cover
I bought at the absolute low and sold at the absolute high
Lol
$0.31 now
Bed Bath & Beyond Inc. is preparing a bankruptcy filing for as early as this weekend as its falling stock price makes it near impossible to raise enough capital to avert default, according to people familiar with the matter.
The embattled retailer recently said it needed to raise $300 million from share sales by April 26 to stay out of chapter 11. The company will have to stop selling stock by that date, when it would lose eligibility to continue under its share registration documents. Given the stock’s closing price on Wednesday of 46 cents, Bed Bath & Beyond faces long odds to raise that amount of money within that time.
This stock is going to cause a lot of people to suffer from bipolar and PTSD disorders
Bed Bath & Beyond Inc. is preparing a bankruptcy filing for as early as this weekend as its falling stock price makes it near impossible to raise enough capital to avert default, according to people familiar with the matter.
The embattled retailer recently said it needed to raise $300 million from share sales by April 26 to stay out of chapter 11. The company will have to stop selling stock by that date, when it would lose eligibility to continue under its share registration documents. Given the stock’s closing price on Wednesday of 46 cents, Bed Bath & Beyond faces long odds to raise that amount of money within that time.
This is a good thing?
April 19 (Reuters) - Bed Bath & Beyond Inc (BBBY.NaE):
* BED BATH & BEYOND IS PREPARING A BANKRUPTCY FILING FOR AS EARLY AS THIS WEEKEND - WSJ Source text: https://on.wsj.com/43QhZhp Further company coverage:
Tanking below the low of day now
Interesting to see this double top out at 85 cents and then crash back down to the mid 60 cent level
NEWS FLASH: No one here has a handle on what's going on with this company
Yes she is making a decent stair stepping pattern but a pattern is not made in just a 48 hour period of time. We need at least five or so sessions before we can say that the trend has reversed. Following this company's clinical trials or business plan in quite some time. But I'm going to shoot an email over to the company just to see if there are any new developments that could be causing an interest in the shares
Looking forward to that breach thru the hod and follow-thru to over $1
Seems we may have a volume precedes news event starting here
And everyone said this company was filing bankruptcy
I'm on Ft. Lauderdale beach
Traders are taking profits at multiple levels, as long as there is profit to take.
If the company has news to drop, I just hope they drop it when the share price is closer to $1 per share than way down here
Hoping the latter is the case
Hello 0.08s
Thank you David Michery
Pull a 2 or 3 year chart on DRUG for a clearer perspective of just how low we are.
A push through the $0.85 level at some point this week or next should get us a nice spike over $1 per share and then perhaps shorts may begin covering.
Thing is,,,, if this is news related concerning something internally positive within the company itself, then we could be trading exponentially higher. I'm happy with the last two days worth of action with the spike from 41 cents to over 80 cents then the retracement back down to the .40s today followed by continuing buying
There simply has to be news in the pipeline that just hasn't hit the wires yet.
Stock twits is literally on fire
DRUG CHART IS CERTAINLY LOOKING FANTASTIC
I find it hilarious that no one here has a clue what's happening with this company, including myself. Nobody knew when the bottom was going to be. The company could have just as easily filed bankruptcy moments after anyone bought this in the .20s
It's a total crap shoot
Yes ...but things can always be worse
I really am shocked that there are individuals selling their stock at such a loss
But congratulations to you for picking those up.
Indeed...but we will ultimately recover a fair portion of those paper losses. In the meantime...
Breathe..
The Russell 2000 and Russell 3000 fund managers must be pulling their hair out right around now after having purchased this substantially higher than $1 per share
This was extremely heavily shorted from the $3 range or so. Much easier to cover all of those shares at a substantially lower price, hence today's volume. I'm just wondering why the shares moved up from 40 cents to over 80 cents earlier in the session. One would think there might be some news pending...
I'm not concerned. I've been down hundreds of thousands of dollars before and sometimes these things will make one hell of a run at some point in the future restoring a good portion of your investment back. You just have to be patient. There's no point in selling now
Correct me if I'm wrong but wasn't this one of the highest short interest stocks over the past year?
Volume precedes news
I see no pump involved today anywhere
This stock has immense short interest and I can see this busting through the $1 level this week easily
DRUG ran from the 40 cent level to over 80 cents today. Anything is possible
Stock twits is on fire on it. 1 post every few seconds
What is the reason for today's percentage gain?
Ahh ok.... I was referencing those individuals that purchased shares at a 50% discount to $0.04 and wanting to take a fast double
A wash sale occurs only when you sell a stock at a LOSS and purchase that same or similar stock back within 30 days. The wash sale prohibits that individual from being able to write off the stock loss against any future gains.