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Tag: Brickell

  • Did Anything Boost Brickell (BBI) Stock In Extended Trading?

    Brickell Biotech Inc. (BBI) charted higher today, an 8.13% increase to trade at $0.685 in afterhours trading. Brickell stock fell -3.28% on Tuesday to close at $0.63. BBI stock traded for 1.37 million shares on the day, compared to 1.26 million on average for the last three months. BBI’s stock fluctuated between $0.6101 and $0.655 during the trading session. The earnings per share ratio of BBI was -1.03. On a year-to-date basis, BBI stock has gained 2.18% and lost -18.83% over the past five sessions and on a monthly basis has gained -32.53%. The 50-day moving average of BBI stock is $0.8299, which is below the 200-day moving average of $0.9239. In addition, BBI stock has a current RSI of 27.91. A bought deal offering of common stock resulted in a rise in BBI stock.

    How did BBI complete the deal?

    Brickell is focused on developing innovative and differentiated prescription therapeutics for the treatment of debilitating skin diseases, particularly hyperhidrosis. BBI’s lead asset is sofpironium bromide for the treatment of this condition. BBI executives and board members have extensive product development and global commercialization experience. Several of the BBI team’s products have achieved first-in-class status and/or first-to-market status, including Cialis, Taltz, Gemzar, Prozac, Cymbalta and Juvederm, among others. By leveraging this experience, BBI aims to in-license, acquire, develop and market innovative and differentiating pharmaceutical products that could transform lives by solving currently unmet patient needs in the marketplace.

    It was announced last week that Brickell had closed its publicly announced offering of 12,983,871 shares of the company’s common stock.

    • The underwriter exercised its option to purchase 1,693,548 shares of BBI common stock in full as part of the offer.
    • In addition to underwriting discounts and commissions, the underwriter exercised the option for $0.62 per share to the public.
    • For the BBI offering, HC Wainwright & Co. served as the bookrunner.
    • According to the Securities and Exchange Commission (“SEC”), BBI offered the shares of common stock pursuant to a “shelf” registration statement on Form S-3 issued on March 17, 2021.
    • By virtue of the effective registration statement, shares of common stock of BBI were only offered through a prospectus, including a prospectus supplement.

    How BBI plans to utilize the proceeds?

    Before deducting underwriting discounts and commissions as well as BBI’s offering expenses, the gross proceeds of the offering were approximately $8.05 million. In addition to the net proceeds of the offering, Brickell (BBI) plans to use the working capital and general corporate purpose proceeds for research and development.

  • Brickell Biotech, Inc. (BBI) Stock Rallies Ahead of Sofpironium Bromide Clinical Trial Milestones

    Brickell Biotech, Inc. (BBI) Stock Rallies Ahead of Sofpironium Bromide Clinical Trial Milestones

    Brickell Biotech, Inc. (BBI) stock prices were down by a marginal 0.52% as of the market closing on June 29th, 2021, bringing the price per share down to USD$0.93 at the end of the trading day. Subsequent pre-market fluctuations saw the stock rally by 5.91%, bringing it up to USD$0.98.

    Sofpironium Bromide Gel, 15%, Study

    The company’s U.S Phase 3 clinical program is comprised of two pivotal studies designed to evaluate sofpironium bromide gel, 15%. Cardigan I and Cardigan II each have approximately 350 subjects enrolled, each of which is above the age of 8 and has primary axillary hyperhidrosis. The efficacy and safety of topically applied sofpironium bromide gel will be evaluated in the multicenter, randomized, double-blinded, vehicle-controlled studies, with safety and tolerability assessments being performed throughout the studies.

    Details of the Study

    The regimen consists of subjects applying the treatment or a placebo to their underarms once daily before sleeping at night for a period of six consecutive weeks, with a 2-week post-treatment follow up. The co-primary efficacy endpoints of both studies include the demographic of patients that exhibited at least a 2-point improvement on the Hyperhidrosis Disease Severity Measure-Axillary (HDSM-Ax) scale, which is a proprietary and validated patient-reported outcome measure. The studies will also evaluate changes in gravimetric sweat production (GSP) from baseline to the end of treatment.

    Scope of Clinical Study

    Topline results from each of the Cardigan clinical studies is expected for the fourth quarter of 2021. The success of these results will form the basis of a potential NDA in the U.S for sofpironium bromide gel, 15% for the treatment of primary axillary hyperhidrosis.

    Phase 1 PPH Clinical Study

    June 24th, 2021 had seen the company announce that its development partner, Kaken Pharmaceutical, had initiated a Phase 1 clinical study to assess the pharmacokinetics of sofpironium bromide gel. The Study would assess the efficacy and safety of the treatment in patients with primary palmoplantar hyperhidrosis in Japan. PPH is a medical disorder that is very common, resulting in excessive sweating from the palms and soles. Primary palmar hidrosis is estimated to affect 5.33% of the Japanese population, while primary plantar hyperhidrosis is thought to affect 2.79% of the population. With no existing approved topical prescription treatments available for PPH in Japan, the study’s scope is potentially massive.

    Future Outlook for BBI

    Armed with a solid liquidity position, BBI is poised to capitalize on the strides made in its clinical studies, with the company pushing for the commercialization and proliferation of sofpirinium bromide gel, 15%. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.