Bright Minds Biosciences Inc. (DRUG) 10-Year Financial Performance & Capital Metrics

DRUG • • Industrial / General

HealthcareBiotechnologyNeurology & CNS DisordersPsychiatric & CNS Disorders

AboutBright 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-HT2C, 5-HT2A, and 5-HT2C/A for the treatment of epilepsy, pain, and neuropsychiatry. The company has collaboration with National Institutes of Health for the treatment of epilepsy; University of Texas Medical Branch to treat impulse control disorders, such as binge eating; and Medical College of Wisconsin. The company was incorporated in 2019 and is headquartered in Vancouver, Canada.Show more

Revenue $0
EBITDA -$14M
Net Income -$12M -336.5%
EPS (Diluted) -1.28 -96.9%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -27.93% +39.5%
ROIC -
Debt/Equity 0.00 -92.9%
Interest Coverage -541.45

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 96 (top 4%)

✗Weaknesses

✗Shares diluted 59.6% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-296.63%

EPS CAGR

10Y-

5Y-

3Y-

TTM-155.02%

ROCE

10Y Avg-91.25%

5Y Avg-68.45%

3Y Avg-52.81%

Latest-31.8%

Peer Comparison

Psychiatric & CNS Disorders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
JAZZJazz Pharmaceuticals plc	10.4B	171.16	19.79	6.12%	-8.86%	-9.31%	12.96%	1.51
ACADACADIA Pharmaceuticals Inc.	4.49B	26.53	19.51	31.85%	24.94%	28.47%	3.5%	0.07
CPRXCatalyst Pharmaceuticals, Inc.	2.82B	22.96	17.53	23.49%	37.63%	23.64%	8.48%	0.00
HRMYHarmony Biosciences Holdings, Inc.	2.1B	36.41	14.51	22.8%	22.48%	22.23%	10.43%	0.28
ALKSAlkermes plc	5.15B	31.22	14.39	-6.36%	22.27%	19.55%	7.87%	0.05
PRTCPureTech Health plc	463.31M	19.17	9.59	44.98%	-495.91%	-8.53%		0.05
LBRXLB Pharmaceuticals Inc Common Stock	540.89M	21.38	-1.20
NMRANeumora Therapeutics, Inc. Common Stock	361.97M	2.13	-1.39			-178.79%		0.01

Profit & Loss

	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	0	0	0	0	0	0	0
Revenue Growth %	-	-	-	-	-	-	-
Cost of Goods Sold+	0	0	0	0	0	0	55.19K
COGS % of Revenue	-	-	-	-	-	-	-
Gross Profit+	0	0	0	0	0	0	-55.19K
Gross Margin %	-	-	-	-	-	-	-
Gross Profit Growth %	-	-	-	-	-	-	-
Operating Expenses+	236.15K	474.93K	8.62M	14.73M	7.2M	2.62M	9.93M
OpEx % of Revenue	-	-	-	-	-	-	-
Selling, General & Admin	110.12K	120.07K	2.31M	2.55M	2.2M	1.44M	2.57M
SG&A % of Revenue	-	-	-	-	-	-	-
Research & Development	126.03K	354.85K	6.31M	12.18M	5M	1.18M	7.96M
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	-597.85K
Operating Income+	-236.15K	-474.93K	-8.62M	-14.73M	-7.2M	-2.62M	-13.94M
Operating Margin %	-	-	-	-	-	-	-
Operating Income Growth %	-	-1.01%	-17.16%	-0.71%	0.51%	0.64%	-4.33%
EBITDA+	0	0	0	-14.73M	-7.13M	0	-13.88M
EBITDA Margin %	-	-	-	-	-	-	-
EBITDA Growth %	-	-	-	-	0.52%	1%	-
D&A (Non-Cash Add-back)	236.15K	474.93K	8.62M	6.04K	72.45K	2.62M	55.19K
EBIT	-236.15K	-474.93K	-8.65M	-14.73M	-7.35M	-2.62M	-8.75M
Net Interest Income+	0	0	0	0	0	21.19K	1.07M
Interest Income	0	0	0	0	0	21.19K	1.09M
Interest Expense	0	0	0	0	0	0	25.74K
Other Income/Expense	0	-5.45K	-27.64K	-232.93K	-172.46K	-185.31K	1.71M
Pretax Income+	-236.15K	-480.38K	-8.65M	-14.96M	-7.37M	-2.8M	-12.23M
Pretax Margin %	-	-	-	-	-	-	-
Income Tax+	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%
Net Income+	-236.15K	-480.38K	-8.65M	-14.96M	-7.37M	-2.8M	-12.23M
Net Margin %	-	-	-	-	-	-	-
Net Income Growth %	-	-1.03%	-17.01%	-0.73%	0.51%	0.62%	-3.36%
Net Income (Continuing)	-236.15K	-480.38K	-8.65M	-14.96M	-7.37M	-2.8M	-12.23M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	-0.06	-0.38	-4.74	-6.15	-1.98	-0.65	-1.28
EPS Growth %	-	-5.18%	-11.47%	-0.3%	0.68%	0.67%	-0.97%
EPS (Basic)	-0.06	-0.38	-4.74	-6.15	-1.98	-0.65	-1.28
Diluted Shares Outstanding	1.28M	1.28M	1.79M	2.47M	3.72M	4.31M	6.88M
Basic Shares Outstanding	1.28M	1.28M	1.79M	2.47M	3.72M	4.31M	6.88M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	79.99K	878.22K	20.04M	11.95M	6.81M	5.99M	84.31M
Cash & Short-Term Investments	79.99K	799.93K	19.76M	11.63M	6.75M	5.72M	82.91M
Cash Only	79.99K	799.93K	19.76M	11.63M	6.75M	5.72M	82.91M
Short-Term Investments	0	0	0	0	0	0	61.93K
Accounts Receivable	0	0	110.15K	155.78K	0	50.22K	413.07K
Days Sales Outstanding	-	-	-	-	-	-	-
Inventory	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	0	0
Total Non-Current Assets+	83.98K	2K	2K	138.86K	66.41K	117.66K	111.97K
Property, Plant & Equipment	0	0	0	138.86K	66.41K	117.66K	80.39K
Fixed Asset Turnover	-	-	-	-	-	-	-
Goodwill	0	2K	2K	0	0	0	0
Intangible Assets	2K	2	2	0	0	0	0
Long-Term Investments	81.98K	1K	33.68K	0	0	0	0
Other Non-Current Assets	0	-1K	-33.68K	0	0	0	31.57K
Total Assets+	163.97K	880.22K	20.04M	12.09M	6.88M	6.1M	84.42M
Asset Turnover	-	-	-	-	-	-	-
Asset Growth %	-	4.37%	21.77%	-0.4%	-0.43%	-0.11%	12.83%
Total Current Liabilities+	36.71K	150.92K	638.57K	1.47M	280.86K	528.68K	2.34M
Accounts Payable	36.71K	138.42K	596.57K	1.25M	182.31K	407.55K	1.71M
Days Payables Outstanding	-	-	-	-	-	-	11.31K
Short-Term Debt	0	0	0	0	0	0	60.69K
Deferred Revenue (Current)	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	0	0	0	-60.69K
Current Ratio	2.18x	5.82x	31.38x	8.11x	24.26x	11.32x	36.10x
Quick Ratio	2.18x	5.82x	31.38x	8.11x	24.26x	11.32x	36.10x
Cash Conversion Cycle	-	-	-	-	-	-	-
Total Non-Current Liabilities+	0	0	0	71.98K	0	39.58K	41.25K
Long-Term Debt	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	71.98K	0	39.58K	41.25K
Deferred Tax Liabilities	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	0
Total Liabilities	36.71K	150.92K	638.57K	1.54M	280.86K	568.26K	2.38M
Total Debt+	0	0	0	139.91K	73.55K	118.96K	125.78K
Net Debt	-79.99K	-799.93K	-19.76M	-11.49M	-6.67M	-5.6M	-82.78M
Debt / Equity	-	-	-	0.01x	0.01x	0.02x	0.00x
Debt / EBITDA	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-541.45x
Total Equity+	127.26K	729.29K	19.4M	10.54M	6.6M	5.54M	82.04M
Equity Growth %	-	4.73%	25.6%	-0.46%	-0.37%	-0.16%	13.82%
Book Value per Share	0.10	0.57	10.81	4.27	1.77	1.28	11.93
Total Shareholders' Equity	127.26K	729.29K	19.4M	10.54M	6.6M	5.54M	58.91M
Common Stock	205.98K	980.66K	27.08M	32.24M	33.91M	35.42M	88.49M
Retained Earnings	-78.72K	-559.09K	-9.21M	-24.17M	-31.55M	-34.35M	-33.44M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	-81.98K	161.3K	1.57M	2.48M	3.4M	4.01M	3.86M
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	-42.01K	-288.39K	-7.32M	-13.59M	-7.02M	-1.85M	-6.24M
Operating CF Margin %	-	-	-	-	-	-	-
Operating CF Growth %	-	-5.87%	-24.38%	-0.86%	0.48%	0.74%	-2.37%
Net Income	-78.72K	-480.38K	-8.65M	-14.96M	-7.37M	-2.8M	-12.23M
Depreciation & Amortization	0	0	0	6.04K	72.45K	73.36K	76.87K
Stock-Based Compensation	0	161.3K	880.62K	875.06K	1.15M	839.77K	3.18M
Deferred Taxes	0	0	0	0	0	0	0
Other Non-Cash Items	110.12K	161.3K	144.76K	-229.57K	65.1K	-1.18K	2.33M
Working Capital Changes	36.71K	30.68K	306.08K	726.31K	-941.72K	39.81K	398.49K
Change in Receivables	0	0	-110.15K	-45.63K	0	0	-260.52K
Change in Inventory	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0
Cash from Investing+	0	0	0	0	0	0	0
Capital Expenditures	0	0	0	0	5	0	0
CapEx % of Revenue	-	-	-	-	-	-	-
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0
Cash from Financing+	122K	1.01M	26.06M	5.2M	2.19M	810.57K	61.44M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	366K	0	-1.69M	1.17M	1.06M	302	28.24K
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	-42.01K	-288.39K	-7.32M	-13.59M	-7.02M	-1.85M	-6.24M
FCF Margin %	-	-	-	-	-	-	-
FCF Growth %	-	-5.87%	-24.38%	-0.86%	0.48%	0.74%	-2.37%
FCF per Share	-0.03	-0.23	-4.08	-5.50	-1.89	-0.43	-0.91
FCF Conversion (FCF/Net Income)	0.18x	0.60x	0.85x	0.91x	0.95x	0.66x	0.51x
Interest Paid	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0

Key Ratios

Metric	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-185.56%	-112.16%	-85.94%	-99.95%	-86.02%	-46.18%	-27.93%
Debt / Equity	-	-	-	0.01x	0.01x	0.02x	0.00x
Interest Coverage	-	-	-	-	-	-	-541.45x
FCF Conversion	0.18x	0.60x	0.85x	0.91x	0.95x	0.66x	0.51x

Frequently Asked Questions

Growth & Financials

Bright Minds Biosciences Inc. (DRUG) grew revenue by 0.0% over the past year. Growth has been modest.

Bright Minds Biosciences Inc. (DRUG) reported a net loss of $11.1M for fiscal year 2025.

Dividend & Returns

Bright Minds Biosciences Inc. (DRUG) has a return on equity (ROE) of -27.9%. Negative ROE indicates the company is unprofitable.

Bright Minds Biosciences Inc. (DRUG) had negative free cash flow of $8.3M in fiscal year 2025, likely due to heavy capital investments.

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