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The latest update is out from Bright Minds Biosciences ( (TSE:DRUG) ).
On January 9, 2026, Bright Minds Biosciences closed a US$175.05 million public offering of 1,945,000 common shares at US$90.00 per share, with underwriters granted a 30‑day option to purchase up to an additional 291,750 shares. All shares were sold by the company, which plans to use the net proceeds to fund future clinical trials for its drug candidates targeting absence seizures, developmental and epileptic encephalopathies, Prader‑Willi syndrome, initiation of Phase 1 trials for BMB‑105, additional early‑stage research and development, and general corporate and working capital needs, bolstering its ability to progress its CNS pipeline and reinforcing its capital position in the competitive biotech space.
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. The company’s pipeline is built around a platform of highly selective serotonergic agonists targeting distinct brain receptors, supporting a portfolio of new chemical entity programs in neurology and psychiatry aimed at high unmet medical need.
Average Trading Volume: 1,694
Technical Sentiment Signal: Buy
Current Market Cap: C$1.01B
For a thorough assessment of DRUG stock, go to TipRanks’ Stock Analysis page.