Brickell Bio sells off rights to excessive-sweating drug for $9M upfront

BOULDER —  Brickell Biotech Inc. (Nasdaq: BBI), a clinical-stage pharmaceutical company that’s developing a gel to treat excessive sweating and has struggled to maintain a stock price high enough to keep its Nasdaq listing, has sold the rights to its sofpironium bromide drug for a $9 million upfront payment and other considerations. 

Buyer Botanix Pharmaceuticals Ltd. has also pledged to make “additional success-based regulatory and sales milestone payments of up to $168 million and tiered earn out payments ranging from high-single digits to mid-teen digits on net sales of sofpironium bromide gel,” according to a Brickell release. 

That could be quite a…