Bright Minds Biosciences announced the closing of its upsized public offering of 1,945,000 common shares at a price of $90 per share, generating gross proceeds of $175.05 million. The offering included a 30-day overallotment option for underwriters to purchase an additional 291,750 shares at the same price, subject to customary discounts and commissions. Joint book-running managers for the transaction were Jefferies, TD Cowen, Piper Sandler & Co. and Cantor Fitzgerald & Co. The closing occurred on January 9, 2026, following satisfaction of standard closing conditions and the effectiveness of the company’s shelf registration declared by the SEC on September 2, 2025.

Bright Minds plans to deploy the net proceeds to advance multiple neurological drug candidates through clinical development. Allocations include funding for Phase 2b trials targeting absence seizures and developmental and epileptic encephalopathies (DEE), initiation of a Phase 1 study for BMB-105, and a proof-of-concept trial in Prader-Willi Syndrome. Additional funds will support ongoing research on earlier-stage programs and general corporate purposes. The company expects these investments to extend its cash runway into 2028 and position its pipeline for key data readouts over the next 18 months.