10:44 AM EDT, 10/16/2024 (MT Newswires) -- 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 ( AIFF ) 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.

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