Bright Minds Biosciences (XCNQ:DRUG) Effective Interest Rate on Debt % : 0.00% (As of Dec. 2023)

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What is Bright Minds Biosciences Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Bright Minds Biosciences's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was C$0.00 Mil. Bright Minds Biosciences's average total debt for the quarter that ended in Dec. 2023 was C$0.06 Mil. Therefore, Bright Minds Biosciences's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 0.00%.

Bright Minds Biosciences Effective Interest Rate on Debt % Historical Data

The historical data trend for Bright Minds Biosciences's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Bright Minds Biosciences Effective Interest Rate on Debt % Chart

Bright Minds Biosciences Annual Data

Trend

Sep20

Sep21

Sep22

Sep23

Effective Interest Rate on Debt %

Bright Minds Biosciences Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
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Competitive Comparison of Bright Minds Biosciences's Effective Interest Rate on Debt %

For the Biotechnology subindustry, Bright Minds Biosciences's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Bright Minds Biosciences's Effective Interest Rate on Debt % Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Bright Minds Biosciences's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Bright Minds Biosciences's Effective Interest Rate on Debt % falls into.

Bright Minds Biosciences Effective Interest Rate on Debt % Calculation

Bright Minds Biosciences's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Sep. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Sep. 2022 )	+	Total Debt (A: Sep. 2023 ))	/ count )
=	-1 * 0	/	( (0.14	+	0.074)	/ 2 )
=	-1 * 0	/	0.107
=	0.00 %

where

	Total Debt (A: Sep. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0.072	+	0.068
=	0.14

	Total Debt (A: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0.074
=	0.074

Bright Minds Biosciences's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * 0	/	( (0.074	+	0.055)	/ 2 )
=	-1 * 0	/	0.0645
=	0.00 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0.074
=	0.074

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0.055
=	0.055

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Bright Minds Biosciences (XCNQ:DRUG) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Bright Minds Biosciences Effective Interest Rate on Debt % Related Terms

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Bright Minds Biosciences (XCNQ:DRUG) Business Description

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DRUG:USA

Address

19 Vestry Street, New York, NY, USA, 10013

Website

https://www.brightmindsbio.com

Bright Minds Biosciences Inc is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain. The company has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as resistant epilepsy, treatment resistant depression, PTSD, and pain. The company's drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as psilocybin.