Brickell Biotech, Inc. (BBI) is a biopharmaceutical company focused on the development of innovative and differentiated prescription therapeutics. The aim is to develop novel therapeutics for the treatment of dermatologic, autoimmune and other debilitating diseases. The company’s potential lead candidate which is in Phase 3 clinical trial is Sofpironium Bromide for the treatment of patients with primary axillary hyperhidrosis.
The stock price of BBI during the regular trading hours of December 14, 2021 showed a decrease of 3.25% ($0.29), while at the time of writing, the premarket also showed a further decline of 1.37%.
Key Financials
On November 09, 2021, BBI announced financial report for the third quarter ended September 30, 2021. Some of the key financials reported were
Revenue
Revenue was $0.13 million for the third quarter of 2021 as compared to the revenue for the third quarter of 2020 which was $0.1 million.
Net Loss per Share
Company’s net loss was $13.3 million or $0.16 per basic and diluted share for the Q3 2021 as compared to $4.3 million or $0.15 per basic and diluted share for the same period of 2020.
Events and Happenings
OnOctober 28, 2021, BBI announced that the pricing of its formerly announced underwritten public offering of 26,316,000 shares of its common stock at a price of $0.38 per share to the public. Brickell had also granted the underwriters a 30-day option to buy 3,947,400 additional shares of common stock at the public offering price.
On October 27, 2021, BBI announced about the commencement of a proposed underwritten public offering of shares of its common stock. Related to this offering, the company expects to grant the underwriters a 30-day option to buy an additional 15% of the shares of common stock at the public offering price.
On October 07, 2021, BBI announced positive results from the Phase 3 pivotal Cardigan I and Cardigan II research, which fortified Sofpironium Bromide gel, 15% as a once daily topical formulation in patients with primary axillary hyperhidrosis.
Conclusion
Although there is 24% decline in the stock price of BBI from the past month, yet the investors are putting their trust in the company’s strategies. Several key products are also in the pipeline by the company which will positively impact the stock.
