Bright Minds is Unaware of Any Material Changes

Rhea-AI Summary

At the request of CIRO, Bright Minds Biosciences (CSE: DRUG) (NASDAQ: DRUG) has confirmed that the company's management is unaware of any material changes in its operations that could explain the recent increase in market activity. This statement was made in response to unusual trading patterns observed in the company's stock.

The press release, dated October 15, 2024, serves as a formal declaration to investors and regulatory bodies that Bright Minds has not undergone any significant operational changes that would justify the recent market behavior. This type of announcement is often made to ensure transparency and compliance with stock exchange regulations.

News Market Reaction

-25.18%

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-25.18% News Effect

On the day this news was published, DRUG declined 25.18%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - At the request of CIRO, Bright Minds Biosciences Inc. (CSE: DRUG) (NASDAQ: DRUG) ("Bright Minds" or the "Company") wishes to confirm that the Company's management is unaware of any material changes in the Company's operations that would account for the recent increase in market activity.

About Bright Minds

Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain. Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as treatment resistant epilepsy, treatment resistant depression, PTSD, and pain. The Company leverages its world-class scientific and drug development expertise to bring forward the next generation of safe and efficacious drugs. Bright Minds' drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first- generation compounds, such as fenfluramine, psilocybin, LSD, and ibogaine.

Investor Contact:

Ian McDonald
CEO and Director
E: ian@brightmindsbio.com
T: (647) 865-8622

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226772

FAQ

Why did Bright Minds Biosciences (DRUG) issue a statement about no material changes on October 15, 2024?

Bright Minds Biosciences issued the statement at the request of CIRO to confirm that there were no material changes in the company's operations that would explain the recent increase in market activity for its stock.

What stock exchanges is Bright Minds Biosciences (DRUG) listed on?

According to the press release, Bright Minds Biosciences is listed on both the Canadian Securities Exchange (CSE) and NASDAQ under the ticker symbol DRUG.

Has there been unusual market activity for Bright Minds Biosciences (DRUG) stock recently?

Yes, the press release implies there has been a recent increase in market activity for Bright Minds Biosciences stock, which prompted the company to issue a statement confirming no material changes in its operations.

What is CIRO and why did they request a statement from Bright Minds Biosciences (DRUG)?

CIRO likely refers to a regulatory body. They requested a statement from Bright Minds Biosciences to address the recent increase in market activity, ensuring transparency and compliance with stock market regulations.