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An announcement from Bright Minds Biosciences ( (TSE:DRUG) ) is now available.
On January 7, 2026, Bright Minds Biosciences entered into an underwriting agreement with a syndicate led by Jefferies, TD Securities (USA), Piper Sandler and Cantor Fitzgerald to sell 1,945,000 common shares at $90.00 each, raising gross proceeds of $175.1 million in a public offering that is expected to close on January 9, 2026, with the underwriters also granted a 30-day option to buy up to 291,750 additional shares. The company expects to receive about $164.4 million in net proceeds (or roughly $189.1 million if the option is fully exercised), which it plans to deploy into future clinical trials for its pipeline of drug candidates targeting absence seizures, DEE and Prader-Willi Syndrome, the initiation of Phase 1 trials for BMB-105, additional early-stage R&D, and general corporate and working capital needs, while agreeing to a 90-day lock-up on new share issuances by the company and its executives that could bolster investor confidence but temporarily cap equity dilution beyond this raise.
The most recent analyst rating on (TSE:DRUG) stock is a Buy with a C$142.00 price target. To see the full list of analyst forecasts on Bright Minds Biosciences stock, see the TSE:DRUG Stock Forecast page.
Spark’s Take on TSE:DRUG Stock
According to Spark, TipRanks’ AI Analyst, TSE:DRUG is a Neutral.
The score is held back primarily by weak financial performance (pre-revenue, recurring losses, and negative free cash flow), despite a strong low-debt balance sheet. Technicals are notably supportive with price above major moving averages and positive momentum indicators, while valuation remains pressured due to negative earnings and no provided dividend yield.
To see Spark’s full report on TSE:DRUG stock, click here.
More about Bright Minds Biosciences
Bright Minds Biosciences Inc. is a clinical-stage biopharmaceutical company focused on developing drug candidates for neurological and neurodevelopmental disorders, including absence seizures, developmental and epileptic encephalopathies (DEE), and Prader-Willi Syndrome, alongside earlier-stage programs such as its BMB-105 candidate now moving toward Phase 1 trials.
Average Trading Volume: 1,694
Technical Sentiment Signal: Buy
Current Market Cap: C$1.01B
For detailed information about DRUG stock, go to TipRanks’ Stock Analysis page.