Brickell spends on drug trials, shares down 5%
BOULDER — Brickell Biotech Inc. (Nasdaq: BBI) reported a quarterly loss of $11.1 million Thursday after the closing bell; shares declined 5% in Friday trading.
The clinical-stage developer of skin therapy drugs burned through about $5.7 million in the first half of the year and said it spent $8.8 million on research and development in its second quarter — tripling last year’s second quarter R&D expenses — as it ramped up drug trials.
Brickell said a July offering at 62 cents a share that raised $8 million should get it beyond its anticipated new drug application to the FDA in mid-2022. It had $24.1 million in cash equivalents as of June 30.
Shares traded at about 66 cents today, and a $56 million market cap.
Quarterly revenue was $200,000 — royalties from drug sales by a licensee in Japan — down two-thirds year-over-year. The biotech said 2020’s second quarter included “collaboration revenue recognized” on R&D money the Japan company, Kaken, had paid Brickell in 2018.
© 2021 BizWest Media LLC
BOULDER — Brickell Biotech Inc. (Nasdaq: BBI) reported a quarterly loss of $11.1 million Thursday after the closing bell; shares declined 5% in Friday trading.
The clinical-stage developer of skin therapy drugs burned through about $5.7 million in the first half of the year and said it spent $8.8 million on research and development in its second quarter — tripling last year’s second quarter R&D expenses — as it ramped up drug trials.
Brickell said a July offering at 62 cents a share that raised $8 million should get it beyond its anticipated new drug application to the FDA in mid-2022.…
This article has been intentionally blurred.
You must purchase a subscription to view the rest of this content.
Want to See More!?
OR
Start your subscription to BizWest, The Business Journal of the Boulder Valley and Northern Colorado, TODAY!
Online access PLUS print versions of all Bizwest publications
40% Off Annual Membership
Now Only $65 (Normally $108)
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.
Online access for one year.
40% Off Annual Membership
Now Only $65 (Normally $108)
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year access to daily email newsletter & breaking news alerts.
Online access PLUS print versions of all Bizwest publications
One month subscription includes:
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-month subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.
Online access for one year.
One month subscription includes:
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year access to daily email newsletter & breaking news alerts.
Online and print versions of all Bizwest publications PLUS premium access to BizWest Datastore for one year.
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year premium online access to unlimited downloads from the BizWest Datastore!
- 1-year premium online access to the Breaking Ground website!
- 1-year access to daily email newsletter & breaking news alerts.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
One year subscription includes:
- 1-year online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-year subscription to BizWest & all of the publications in print version.
- 1-year premium online access to the Breaking Ground website!
- 1-year access to daily email newsletter & breaking news alerts.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
One month subscription includes:
- 1-year premium online access to the Breaking Ground website!
- 1-month online access to BizWest.com which includes unlimited news stories, archived story access and interactive versions of monthly business journal.
- 1-month subscription to BizWest & all of the publications in print version.
- 1-year access to daily email newsletter & breaking news alerts.