Bright Minds Biosciences launches $100 million public offering

Bright Minds Biosciences Inc. (CSE: DRUG) (NASDAQ: DRUG) announced the launch of a public offering to raise $100 million through the sale of common shares and pre-funded warrants. The biotechnology company also granted underwriters a 30-day option to purchase up to 15% additional shares beyond the base offering.

The company plans to use proceeds to fund clinical trials for drug candidates targeting absence seizures, developmental and epileptic encephalopathy, and Prader-Willi Syndrome. Funds will also support initiation of phase 1 clinical trials for BMB-105 and research and development work on earlier-stage programs, along with general corporate purposes.

Jefferies, TD Cowen, Piper Sandler & Co., and Cantor serve as joint book-running managers for the offering. The sale operates under a shelf registration statement filed with the U.S. Securities and Exchange Commission that became effective September 2, 2025.

Bright Minds develops treatments for neurological and psychiatric disorders through a platform of serotonergic agonists that target specific brain receptors. The company's pipeline addresses conditions including epilepsy, depression, and other central nervous system disorders.

The offering information comes from a company press release. Investors can access prospectus documents through the SEC's EDGAR database or directly from the underwriters. The securities will be sold according to Securities Act of 1933 registration requirements.

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