Firefly Neuroscience (AIFF) said Wednesday it is collaborating with Bright Minds Biosciences (DRUG) to use Firefly's AI-driven Brain Network Analytics technology to analyze data from Bright Minds' phase 1 study of its lead compound, BMB-101.
Financial details weren't disclosed.
The study on Bright Minds' lead compound, BMB-101, utilized electroencephalogram, or EEG headsets from Firefly's partner, Zeto, and showed positive results through qEEG data analysis with recordings taken at multiple time points.
Firefly Neuroscience said that the phase 1 trial is complete, and BMB-101 is now ready for phase 2.
Shares of Firefly were up more than 22%, while Bright Minds retreated over 35% in recent Wednesday trading.
Price: 3.84, Change: +0.71, Percent Change: +22.52
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