BOULDER, Colo., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Brickell Biotech, Inc. (“Brickell”) (Nasdaq: BBI), a clinical-stage pharmaceutical company focused on developing innovative and differentiated prescription therapeutics for the treatment of debilitating skin diseases, today announced the pricing of an underwritten public offering of 20,833,322 shares of common stock or common stock equivalents (which includes pre-funded warrants to purchase shares of common stock in lieu of shares of common stock) and investor warrants to purchase up to an aggregate of 20,833,322 shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) is being sold together with one, immediately exercisable investor warrant with a five year term to purchase one share of common stock at an exercise price of $0.72 per share. The shares and warrants are being sold at a combined offering price of $0.72, for total gross proceeds of approximately $15.0 million, before underwriting discounts and commissions and offering expenses payable by Brickell. The offering is expected to close on or about October 27, 2020, subject to the satisfaction or waiver of customary closing conditions.

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Brickell Biotech Announces Pricing of $15.0 Million Underwritten Public Offering