Fresh Tracks Therapeutics informs investors of Silicon Valley Bank account

BOULDER — Fresh Tracks Therapeutics Inc. (Nasdaq: FRTX) holds an account with the failed Silicon Valley Bank, the Boulder-based pharmaceutical company formerly called Brickell Biotech disclosed to the U.S. Securities and Exchange Commission.

“The company maintains up to $1 million in cash deposits at SVB and approximately $3.7 million in a U.S. Treasury money market mutual fund purchased through SVB but managed by a third-party asset manager,” Fresh Tracks told the regulatory agency and its investors. “The company believes that the funds held in the money market mutual fund are not considered deposits. Therefore, the company expects to have access…