Brickell adds 26M shares to market
BOULDER — Brickell Biotech Inc. (Nasdaq: BBI) said it will offer 26 million new common shares at 38 cents a share, with up to another 4 million shares discounted for underwriters.
Brickell had 86 million shares outstanding before the offering and its shares closed Wednesday at 53 cents.
The public offering is set to close Monday, Nov. 1.
William Blair & Co. LLC and Oppenheimer & Co. Inc. are the underwriters.
Brickell, a clinical stage drug company, expects to raise about $10 million to continue trials and for working capital and other purposes.
On Oct. 7 it reported positive topline results in Phase 3 studies of its sofpironium bromide gel, which is said to inhibit receptors in certain glands to reduce excessive underarm sweat.
Brickell focuses on “dermatologic, autoimmune and other debilitating diseases,” a press release said.
The company’s stock lost 25.53% on Thursday.
© BizWest Media LLC
BOULDER — Brickell Biotech Inc. (Nasdaq: BBI) said it will offer 26 million new common shares at 38 cents a share, with up to another 4 million shares discounted for underwriters.
Brickell had 86 million shares outstanding before the offering and its shares closed Wednesday at 53 cents.
The public offering is set to close Monday, Nov. 1.
William Blair & Co. LLC and Oppenheimer & Co. Inc. are the underwriters.
Brickell, a clinical stage drug company, expects to raise about $10 million to continue trials and for working capital and other purposes.
On Oct. 7 it reported positive topline results in Phase 3 studies…
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.