BRIGHT MINDS BIOSCIENCES INC.
DRUG · Pharmaceutical Preparations · EDGAR filings ↗
Reference price $89.50 — last insider sale, 2026-04-28 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
D50Pre-revenue CNS biotech with deeply negative returns and a thin cash balance.
Strengths
- Very high current/quick ratio (~11x, 83rd pct) indicates negligible near-term liabilities
- Net loss contracted year-over-year (net income growth -62% off a small base)
Risks
- Cash and investments only ~$4.2M (14th pct) against a clinical burn — limited runway
- Deeply negative ROA (-46%) and ROE (-51%); no approved products or revenue
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Notable holderHeld by 3 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, FMR LLC (as of 2026-03-31)
- Insider sellingInsider selling — 1 open-market sale(s) by 1 insider(s) (~$10M, last 6mo) Form 4 ↗
Key metrics
Return on equity
-50.6%
Return on assets
-45.9%
Current ratio
11.3×
Tangible book value
$4M
Cash & investments
$4M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-28 | Cormorant Asset Management, LP | Sell | 109K | $89.50 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2025-12-23 | 2025-09-30 | 0001437749-25-038729 ↗ |
| 20-F | 2024-12-31 | 2024-09-30 | 0001062993-24-021301 ↗ |
| 20-F | 2023-12-29 | 2023-09-30 | 0001062993-23-023281 ↗ |
| 20-F | 2022-12-29 | 2022-09-30 | 0001062993-22-024547 ↗ |
| 20-F | 2021-12-29 | 2021-09-30 | 0001062993-21-013611 ↗ |