08:14 AM EDT, 10/18/2024 (MT Newswires) -- Bright Minds Biosciences ( DRUG ) said Friday it launched a private placement of common shares at a price of $21.70 per share.

The biotechnology company also said it has a right to issue pre-funded warrants at $21.70 apiece, with each warrant being exercisable into one pre-funded warrant share for $0.001.

Bright Minds Biosciences ( DRUG ) said it expects aggregate gross proceeds of up to $35 million, which will be used for research and development related of drug development programs, as well as general capital purposes.

Shares of the company were up 33% in recent Friday premarket activity.

Price: 28.89, Change: +7.19, Percent Change: +33.13