Bright Minds (DRUG) Biosciences announced the launch of a public offering of common shares in the capital of the company and, in lieu of common shares to investors that so choose, pre-funded warrants to purchase common shares, for aggregate gross proceeds of $100M. The company intends to use the net proceeds from the offering to fund future clinical trials for the company’s drug candidates, including for absence seizures, DEE, and Prader-Willi Syndrome, as well as initiation of phase 1 clinical drug trials for BMB-105, and additional research and development work on earlier phase programs, as well as for general corporate and working capital purposes. Jefferies, TD Cowen, Piper Sandler & Co., and Cantor are acting as joint book-running managers for the offering.
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