July 23, 2021

Brickell Biotech closes on $8M fundraising round

BOULDER — Brickell Biotech Inc. (Nasdaq: BBI), a developer of skin disease therapies, closed on $8.05 million in new funding Wednesday, more than the company anticipated. 

Earlier this week, Brickell said it expected to raise $7 million.

“The company intends to use the net proceeds of the offering for research and development, including clinical trials, working capital and general corporate purposes,” Brickell said. 

H.C. Wainwright & Co. was the sole book-running manager for the offering.

Brickell offered shares at $0.62. The company’s stock price was hovering around $0.66 Friday morning after dipping more than 20% earlier this week. 

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