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Brickell Biotech, Inc. (Nasdaq: BBI), a clinical-stage pharmaceutical company, will report its Q2 2020 financial results on August 12, 2020, after market close. Management will host a conference call at 4:30 PM ET to discuss financial results and corporate highlights. Brickell focuses on developing innovative therapeutics for skin diseases, including hyperhidrosis. The management team has extensive experience in product development, having worked on several successful products in the pharmaceutical and biotech industries.
Brickell Biotech, Inc. (Nasdaq: BBI) has announced a public offering of 17,500,000 shares of common stock, priced at $1.15 each, leading to gross proceeds of approximately $20.1 million. This offering includes investor warrants for the purchase of additional shares. The anticipated use of proceeds is for research and development, clinical trials, working capital, and corporate purposes. The offering is expected to close around June 22, 2020, subject to customary conditions.
Brickell Biotech has announced positive Phase 3 results for sofpironium bromide gel, 5%, in treating primary axillary hyperhidrosis in Japan. The study met all primary and secondary endpoints with statistically significant results. 53.9% of subjects using the gel showed significant improvement in Hyperhidrosis Disease Severity Scale (HDSS) compared to 36.4% in the placebo group. Kaken Pharmaceutical has filed a New Drug Application in Japan based on these results. The drug, designed to minimize systemic side effects, targets a substantial unmet need in hyperhidrosis treatment, with over 16 million people affected in Japan.
Brickell Biotech (Nasdaq: BBI) announced its Q1 2020 financial results, reporting revenue of $1.0 million, a decrease from $3.5 million in Q1 2019, primarily due to completed studies. The company's cash reserves dropped to $7.1 million, down from $11.7 million at year-end 2019. Research and development expenses decreased to $2.7 million, while general and administrative expenses increased to $2.5 million. Brickell remains focused on advancing sofpironium bromide into Phase 3 studies in the U.S. following positive Phase 3 safety study results.
Brickell Biotech, Inc. (Nasdaq: BBI) will release its Q1 2020 financial results on May 13, 2020, after U.S. market close. A conference call is scheduled for 4:30 p.m. ET to discuss the results and corporate highlights. Interested participants can access the call via a domestic dial-in number or via a live webcast on Brickell's website. The company focuses on developing innovative therapeutics for skin diseases, with a clinical-stage pipeline targeting conditions like hyperhidrosis. For more information, visit brickellbio.com.