DRUG

MKT CAP:$684M

Bright Minds Biosciences Inc.

Market Cap

$684M

Healthcare·Biotechnology·🇨🇦 Canada·NASDAQ

Healthcare·Biotechnology·🇨🇦·NASDAQ

Stock Price

$88.68+$5.22 (+6.25%)

Apr 23, 2026

Company Details

Bright Minds Biosciences Inc., a pre-clinical biosciences company, develops 5-HT (serotonin) medicines to improve the lives of patients with severe and life-altering diseases. Its portfolio of selective 5-HT receptor agonists comprises 5-HT...

CEO

Ian McDonald

IPO Date

Mar 22, 2021

Website

brightmindsbio.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$15M

EPS (Diluted)

-$2.01

Free Cash Flow

-$10M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q2 2026

May 15, 2026

PENDING

Q1 2026

Feb 13, 2026

$0EPS -$0.71

FY 2025

Dec 23, 2025

$0EPS -$1.30

Q4 2025

Dec 23, 2025

$0EPS -$0.30

Q3 2025

Jun 30, 2025

$0EPS -$0.54

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$0	$0	-$3M
Q3 22	$0	$0	-$2M
Q4 22	$0	$0	-$2M
Q1 23	$0	$0	-$2M
Q2 23	$0	$0	-$2M
Q3 23	$0	$0	-$1M
Q4 23	$0	$0	-$1M
Q1 24	$0	$0	-$1M
Q2 24	$0	$0	-$407.8K
Q3 24	$0	$0	$171.5K
Q4 24	$0	$0	-$578.3K
Q1 25	$0	$0	-$1M
Q2 25	$0	$0	-$2M
Q3 25	$0	$0	-$2M
Q4 25	$0	$0	-$4M
Q1 26	$0	$0	-$5M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	-$3M	-$3M
Q3 22	-$2M	-$2M
Q4 22	-$2M	-$2M
Q1 23	-$2M	-$2M
Q2 23	-$1M	-$1M
Q3 23	-$1M	-$1M
Q4 23	-$875.1K	-$875.1K
Q1 24	-$600.8K	-$600.8K
Q2 24	-$588.3K	-$588.3K
Q3 24	$175.5K	$175.5K
Q4 24	-$338.5K	-$338.5K
Q1 25	-$1M	-$1M
Q2 25	-$2M	-$2M
Q3 25	-$3M	-$3M
Q4 25	-$926.6K	-$926.6K
Q1 26	-$4M	-$4M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	—	+188.0%
Q3 22	—	-27.0%
Q4 22	—	+1.5%
Q1 23	—	-52.4%
Q2 23	—	-54.1%
Q3 23	—	-46.3%
Q4 23	—	-48.5%
Q1 24	—	-26.1%
Q2 24	—	-72.8%
Q3 24	—	-116.4%
Q4 24	—	-49.0%
Q1 25	—	-4.4%
Q2 25	—	+500.7%
Q3 25	—	+1504.2%
Q4 25	—	+615.8%
Q1 26	—	+325.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$212.5K	—
Q3 22	$214.4K	—
Q4 22	$21.9K	—
Q1 23	$353.8K	—
Q2 23	$21.9K	—
Q3 23	$173.6K	—
Q4 23	$292.7K	—
Q1 24	$160.0K	—
Q2 24	$165.6K	—
Q3 24	$134.4K	—
Q4 24	$153.6K	—
Q1 25	$128.9K	—
Q2 25	$450.1K	—
Q3 25	$965.6K	—
Q4 25	$781.2K	—
Q1 26	$939.2K	—

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 22	$3M	$338.9K	$129.3K
Q3 22	$1M	$382.3K	$58.5K
Q4 22	$2M	$260.4K	$54.5K
Q1 23	$1M	$552.9K	$30.0K
Q2 23	$1M	$407.8K	$3.4K
Q3 23	$767.8K	$250.8K	$27.1K
Q4 23	$797.5K	$308.8K	$26.7K
Q1 24	$895.6K	$266.4K	$26.7K
Q2 24	$76.9K	$265.7K	—
Q3 24	—	$234.3K	—
Q4 24	$304.0K	$252.9K	$3.7K
Q1 25	$763.9K	$338.2K	$57.1K
Q2 25	$2M	$431.0K	$63.1K
Q3 25	$2M	$350.2K	$82.3K
Q4 25	$3M	$441.4K	$111.4K
Q1 26	$4M	$723.6K	$72.4K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$8M	$0	$8M
Q3 22	$6M	$0	$6M
Q4 22	$8M	$0	$8M
Q1 23	$8M	$0	$8M
Q2 23	$7M	$0	$7M
Q3 23	$6M	$0	$6M
Q4 23	$5M	$0	$5M
Q1 24	$5M	$0	$5M
Q2 24	$4M	$0	$4M
Q3 24	$5M	$0	$5M
Q4 24	$4M	$0	$4M
Q1 25	$42M	$0	$42M
Q2 25	$41M	$0	$41M
Q3 25	$38M	$0	$38M
Q4 25	$61M	$0	$61M
Q1 26	$65M	$0	$65M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	2M	+0.0%	+71.0%
Q3 22	2M	+0.1%	+4.8%
Q4 22	3M	+25.7%	+26.0%
Q1 23	4M	+20.3%	+51.5%
Q2 23	4M	+5.6%	+59.9%
Q3 23	4M	-0.4%	+59.0%
Q4 23	4M	0.0%	+26.5%
Q1 24	4M	+1.9%	+7.1%
Q2 24	4M	+16.2%	+17.9%
Q3 24	5M	+4.1%	+23.2%
Q4 24	5M	0.0%	+23.2%
Q1 25	5M	0.0%	+21.0%
Q2 25	5M	0.0%	+4.1%
Q3 25	7M	+52.4%	+52.4%
Q4 25	7M	+1.2%	+54.2%
Q1 26	8M	+8.3%	+66.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	—	—
Q3 22	—	—
Q4 22	$0	2
Q1 23	$0	2
Q2 23	$0	2
Q3 23	$0	2
Q4 23	$0	2
Q1 24	$0	2
Q2 24	$0	2
Q3 24	$0	2
Q4 24	$0	2
Q1 25	$0	2
Q2 25	$0	2
Q3 25	$0	2
Q4 25	$0	2
Q1 26	$0	2

Revenue / Employee