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      Did Anything Boost Brickell (BBI) Stock In Extended Trading? - Stocks Telegraph

      By Fahim Awan

      Published on

      July 28, 2021

      8:33 AM UTC

      Did Anything Boost Brickell (BBI) Stock In Extended Trading? - Stocks Telegraph

      Brickell Biotech Inc. (BBI) charted higher today, an 8.13% increase to trade at $0.685 in afterhours trading. Brickell stock fell -3.28% on Tuesday to close at $0.63. BBI stock traded for 1.37 million shares on the day, compared to 1.26 million on average for the last three months. BBI’s stock fluctuated between $0.6101 and $0.655 during the trading session. The earnings per share ratio of BBI was -1.03. On a year-to-date basis, BBI stock has gained 2.18% and lost -18.83% over the past five sessions and on a monthly basis has gained -32.53%. The 50-day moving average of BBI stock is $0.8299, which is below the 200-day moving average of $0.9239. In addition, BBI stock has a current RSI of 27.91. A bought deal offering of common stock resulted in a rise in BBI stock.

      How did BBI complete the deal?

      Brickell is focused on developing innovative and differentiated prescription therapeutics for the treatment of debilitating skin diseases, particularly hyperhidrosis. BBI’s lead asset is sofpironium bromide for the treatment of this condition. BBI executives and board members have extensive product development and global commercialization experience. Several of the BBI team’s products have achieved first-in-class status and/or first-to-market status, including Cialis, Taltz, Gemzar, Prozac, Cymbalta and Juvederm, among others. By leveraging this experience, BBI aims to in-license, acquire, develop and market innovative and differentiating pharmaceutical products that could transform lives by solving currently unmet patient needs in the marketplace.

      It was announced last week that Brickell had closed its publicly announced offering of 12,983,871 shares of the company’s common stock.

      • The underwriter exercised its option to purchase 1,693,548 shares of BBI common stock in full as part of the offer.
      • In addition to underwriting discounts and commissions, the underwriter exercised the option for $0.62 per share to the public.
      • For the BBI offering, HC Wainwright & Co. served as the bookrunner.
      • According to the Securities and Exchange Commission (“SEC”), BBI offered the shares of common stock pursuant to a “shelf” registration statement on Form S-3 issued on March 17, 2021.
      • By virtue of the effective registration statement, shares of common stock of BBI were only offered through a prospectus, including a prospectus supplement.

      How BBI plans to utilize the proceeds?

      Before deducting underwriting discounts and commissions as well as BBI’s offering expenses, the gross proceeds of the offering were approximately $8.05 million. In addition to the net proceeds of the offering, Brickell (BBI) plans to use the working capital and general corporate purpose proceeds for research and development.

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