Core Viewpoint - Bright Minds Biosciences Inc. successfully closed a public offering of 1,945,000 common shares at a price of US$90.00 per share, raising gross proceeds of US$175,050,000 to fund clinical trials and research initiatives [1][2]. Group 1: Offering Details - The public offering consisted of 1,945,000 common shares priced at US$90.00 each, resulting in gross proceeds of US$175,050,000 [1]. - Underwriters were granted a 30-day option to purchase an additional 291,750 common shares at the public offering price [1]. - Jefferies, TD Cowen, Piper Sandler & Co., and Cantor acted as joint book-running managers for the offering [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to fund future clinical trials for drug candidates targeting absence seizures, DEE, and Prader-Willi Syndrome [2]. - The company plans to initiate phase 1 clinical trials for BMB-105 and conduct additional research and development on earlier phase programs [2]. - Proceeds will also support general corporate and working capital purposes [2]. Group 3: Company Overview - Bright Minds is a biotechnology company focused on developing innovative treatments for neurological and psychiatric disorders [5]. - The company’s pipeline includes novel compounds targeting key receptors in the brain to address conditions with high unmet medical needs, such as epilepsy and depression [5]. - Bright Minds has developed a unique platform of highly selective serotonergic agonists, providing a rich portfolio of new chemical entity programs within neurology and psychiatry [6].