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.
SPONSORED CONTENT
Business Cares: April 2024
In Colorado, 1 in 3 women, 1 in 3 men and 1 in 2 transgender individuals will experience an attempted or completed sexual assault in their lifetime. During April, we recognize Sexual Assault Awareness Month with the hopes of increasing conversations about this very important issue.
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.
© 2021 BizWest Media LLC