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News  ›  Benzinga

Bright Minds Biosciences Announces Closing of US$175 Million Public Offering

Benzinga Logo Benzinga By Globe Newswire
Bright Minds Biosciences Announces Closing of US$175 Million Public Offering

Bright Minds Biosciences (NASDAQ: DRUG) successfully closed a public offering of 1.945 million common shares at US$90 per share, raising US$175.05 million in gross proceeds. The company plans to use the net proceeds to fund clinical trials for drug candidates targeting absence seizures, DEE, Prader-Willi Syndrome, and BMB-105, along with R&D and general corporate purposes.

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DRUG   positive

The company successfully closed a substantial $175 million public offering, demonstrating strong investor confidence and securing significant capital to advance its clinical pipeline for neurological and psychiatric disorders. The funding provides a solid foundation for expanding drug development programs.