Bright Minds Biosciences completes $175 million public offering

Bright Minds Biosciences Inc. (CSE: DRUG) (NASDAQ: DRUG) completed a public offering of 1,945,000 common shares at $90.00 per share, generating gross proceeds of $175,050,000. The biotechnology company also granted underwriters a 30-day option to purchase up to an additional 291,750 shares at the same price.

The company plans to use net proceeds to fund clinical trials for drug candidates targeting absence seizures, DEE, and Prader-Willi Syndrome. The funds will also support the initiation of phase 1 clinical trials for BMB-105 and additional research and development work on earlier-stage programs, as well as general corporate and working capital purposes.

Jefferies, TD Cowen, Piper Sandler & Co., and Cantor served as joint book-running managers for the offering. The transaction was conducted under a shelf registration statement on Form F-3 that the Securities and Exchange Commission declared effective on September 2, 2025.

Bright Minds develops treatments for neurological and psychiatric disorders, focusing on novel compounds that target brain receptors. The company's platform includes serotonergic agonists designed for conditions including epilepsy, depression, and other central nervous system disorders.

The information is based on a company press release statement.

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