NEW YORK - Bright Minds Biosciences Inc. (NASDAQ: DRUG), a biotechnology company specializing in CNS disorder treatments, has announced positive preclinical results for its drug candidate BMB-201. The substance, designed to treat chronic pain, showed similar efficacy to morphine in pain models without the associated risks of dependency and side effects.
In the recent preclinical testing conducted under the National Institute of Health pain screening program, BMB-201 demonstrated its potential as a safer alternative to opioids. The study involved plantar incision and L5/L6 nerve ligation rat models, with BMB-201 being tested alongside morphine and gabapentin. Results indicated that BMB-201 was effective in reducing mechanical allodynia and pain-related behaviors, especially in female rodents at higher doses.
Jan Torleif Pedersen, Chief Scientific Officer of Bright Minds, highlighted the significance of these findings, stating that BMB-201's performance in preclinical models underscores the potential of serotonergic therapies in pain management. The company is now preparing to advance BMB-201 into clinical trials to further assess its safety and efficacy in human subjects.
BMB-201 is a selective 5-HT2A/2C receptor agonist, part of Bright Minds' portfolio targeting neurological and psychiatric disorders. The drug is a prodrug of BMB-A39a and has been engineered to minimize activity at the 5-HT2B receptor, potentially reducing the risk of side effects.
The promising preclinical results for BMB-201 were presented at the Society for Neuroscience's annual meeting at the NIH Satellite Forum, with the poster available on the company's website.
This news is based on a press release statement and should be considered in the context of Bright Minds' forward-looking information, which includes the design, progress, and completion of future clinical development. The company's public filings can be found under its SEDAR+ profile, which details the risk factors associated with pharmaceutical industry operations and the assumptions made by management.
InvestingPro Insights
Bright Minds Biosciences Inc. (NASDAQ: DRUG) has been making waves in the biotechnology sector, as evidenced by its recent stock performance and the positive preclinical results for BMB-201. According to InvestingPro data, the company has seen an extraordinary 3,550.42% price return in just one week, reflecting the market's enthusiasm for its potential breakthrough in chronic pain treatment.
This surge in stock price aligns with two key InvestingPro Tips: the stock is trading near its 52-week high and has shown significant returns over various time frames. The company's market capitalization stands at $142.9 million, indicating that investors are placing substantial value on Bright Minds' potential in the CNS disorder treatment space.
However, it's important to note that despite the positive preclinical results, Bright Minds is not yet profitable. The company reported an adjusted operating income of -$2.49 million for the last twelve months as of Q3 2023. This aligns with another InvestingPro Tip, which indicates that the company is not profitable over the last twelve months.
For investors considering Bright Minds Biosciences, it's worth noting that InvestingPro offers 14 additional tips that could provide further insights into the company's financial health and market position. These additional tips could be particularly valuable given the stock's recent volatility and the company's stage in drug development.
NEW YORK - Bright Minds Biosciences Inc. (NASDAQ: DRUG), a biotechnology company specializing in CNS disorder treatments, has announced positive preclinical results for its drug candidate BMB-201. The substance, designed to treat chronic pain, showed similar efficacy to morphine in pain models without the associated risks of dependency and side effects.
In the recent preclinical testing conducted under the National Institute of Health pain screening program, BMB-201 demonstrated its potential as a safer alternative to opioids. The study involved plantar incision and L5/L6 nerve ligation rat models, with BMB-201 being tested alongside morphine and gabapentin. Results indicated that BMB-201 was effective in reducing mechanical allodynia and pain-related behaviors, especially in female rodents at higher doses.
Jan Torleif Pedersen, Chief Scientific Officer of Bright Minds, highlighted the significance of these findings, stating that BMB-201's performance in preclinical models underscores the potential of serotonergic therapies in pain management. The company is now preparing to advance BMB-201 into clinical trials to further assess its safety and efficacy in human subjects.
BMB-201 is a selective 5-HT2A/2C receptor agonist, part of Bright Minds' portfolio targeting neurological and psychiatric disorders. The drug is a prodrug of BMB-A39a and has been engineered to minimize activity at the 5-HT2B receptor, potentially reducing the risk of side effects.
The promising preclinical results for BMB-201 were presented at the Society for Neuroscience's annual meeting at the NIH Satellite Forum, with the poster available on the company's website.
This news is based on a press release statement and should be considered in the context of Bright Minds' forward-looking information, which includes the design, progress, and completion of future clinical development. The company's public filings can be found under its SEDAR+ profile, which details the risk factors associated with pharmaceutical industry operations and the assumptions made by management.
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