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Tag: NASDAQ:BBI

  • 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.

  • Here is why Brickell Biotech Inc. (BBI) stock faced the headwinds on the first day of the week?

    Here is why Brickell Biotech Inc. (BBI) stock faced the headwinds on the first day of the week?

    Brickell Biotech Inc. (BBI) shares fell 13.14% in after-hours on Monday, July 19, 2021, and closed Monday’s trading at $0.64. Earlier in the morning session, BBI’s stock lost 1.77% to close Monday’s session at $0.74. BBI shares have fallen 18.49% over the last 12 months, and they have moved down 10.16% in the past week. Over the past three months, the stock has lost 12.31%, while over the past six months, it has shed 33.03%. Further, the company has a current market of $51.08 million and its outstanding shares stood at 67.18 million.

    Let’s see is there any recent news or development behind its negative start on Monday?

    Increasing Bought Deal Offering of Common Stock

    On July 19, 2021, Brickell Biotech, Inc announced that the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 11,290,323 shares of common stock of the Company at a price to the public of $0.62 per share, less underwriting discounts and commissions, due to demand. The offer will close on July 22, 2021.

    Participation in the recent investor conference

    Brickell Biotech recently participated in one-on-one investor meetings at the William Blair Biotech Focus Conference 2021, which was held virtually on July 14 – 15, 2021.

    Update about patient enrollment in Phase 3 pivotal Cardigan I &II study

    On June 29, 2021, Brickell Biotech, Inc announced that the final patient has completed the Phase 3 pivotal Cardigan I study and that all planned patients have been enrolled in the Phase 3 pivotal Cardigan II study. Both studies are evaluating sofpironium bromide gel, 15% in patients with primary axillary (underarm) hyperhidrosis.

    Brickell’s U.S. Phase 3 clinical program for sofpironium bromide gel, 15% is comprised of two pivotal clinical studies, Cardigan I and Cardigan II. Each study has enrolled approximately 350 subjects nine years of age and older with primary axillary hyperhidrosis.

    Initiation of Phase 1 clinical study of sofpironium bromide gel in Japan

    On June 24, 2021, the development partner of Brickell Biotech, Kaken Pharmaceutical Co., Ltd initiated a Phase 1 clinical study to assess the pharmacokinetics (PK) of sofpironium bromide gel in patients with primary palmoplantar hyperhidrosis (PPH) in Japan.

    Publication of Phase 3 Results for ECCLOCKin the Journal of Dermatology

    On June 01, 2021, Brickell Biotech, Inc announced that the results from the Phase 3 long-term safety and efficacy study conducted in Japan by its development partner, Kaken Pharmaceutical Co., Ltd were published in the peer-reviewed Journal of Dermatology1.

    Conclusion

    The BBI stock faced negativity on Monday after it announced to increase in the size of the previously announced public offering. BBI stock can further slide down in the coming days.