Bright Minds Biosciences (CSE: DRUG) has an eye for the US big boards. The company this morning announced that it has submitted an application to list its common shares on the Nasdaq.
In association with the listing, the company has reserved the right to trade under the symbol “DRUG” on the exchange. The firm has filed a registration statement with the US Securities and Exchange Commission in connection with the planned listing, which remains subject to review and approval. The company intends to maintain its listing on the Canadian Securities Exchange, in addition to the US listing.
The listing on the US big board is expected to be a “critical step” in the evolution of the company, with the exposure to “elevate [the] company profile with the biotechnology investment community,” in addition to broadening the firms investor base.
“We believe that this is an ideal time for Bright Minds to announce its plans to move to a leading national stock exchange. Serotonergic therapeutics have gained considerable traction and are on the cusp of an exciting revolution in medicine. BMB is already moving to the clinic with a patented 5-HT2C drug for use in epilepsy. Moreover, having developed a robust pipeline of novel, best-in-class 5-HT2A/2C (serotonin) agonists that refine and build on the first-generation natural compound approaches, Bright Minds has laid a solid foundation to become the front runner in psychedelic-drug inspired medicine.”
Ian McDonald, Chief Executive Officer of Bright Minds
Bright Minds Biosciences last traded at $5.55 on the CSE.
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