Brickell Biotech: Falls on at-par stock offering

Fresh Tracks Therapeutics

23/10/2020 12:36

** Shares of drug developer  BBI.O  fall 11% to 64 cents
premarket; among most heavily traded stocks across U.S.
exchanges
    ** Co prices 20,833,322 shares of common stock, including
pre-funded warrants, at 72 cents/shr- at par with its closing
price on Thursday  urn:newsml:reuters.com:*:nGNX7DXtZ
    ** Expects to generate gross proceeds of ~$15 mln
    ** BBI plans to use net proceeds for R&D purposes, including
clinical trials
    ** Co has 27.79 mln shares outstanding as of Oct. 22-
Refinitiv IBES
    ** Stock down ~52% YTD as of last close

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))