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An update from Bright Minds Biosciences ( (TSE:DRUG) ) is now available.
On January 7, 2026, Bright Minds Biosciences priced an upsized public offering of 1,945,000 common shares at US$90.00 per share, for anticipated gross proceeds of about US$175.1 million, with underwriters granted a 30-day option to buy up to an additional 291,750 shares; closing is expected on January 9, 2026, subject to customary conditions. The company plans to deploy the proceeds to advance clinical trials for its drug candidates in absence seizures, developmental and epileptic encephalopathies and Prader–Willi syndrome, initiate Phase 1 trials for BMB-105, and support earlier-stage R&D and corporate needs, while simultaneously terminating its US$100 million at-the-market equity program, signaling a shift to more traditional underwritten financing and bolstering its funding base for pipeline development in the competitive CNS therapeutics market.
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 biotechnology company focused on developing innovative treatments for neurological and psychiatric disorders, including epilepsy, depression and other central nervous system conditions with high unmet medical need. The company has built a platform of highly selective serotonergic agonists targeting different brain receptors, giving it a portfolio of new chemical entities in neurology and psychiatry and positioning it within the CNS drug development space.
Average Trading Volume: 1,677
Technical Sentiment Signal: Buy
Current Market Cap: C$973M
See more data about DRUG stock on TipRanks’ Stock Analysis page.