Lowenstein represented Oppenheimer & Co. Inc., acting as the sole book-running manager, in connection with the underwritten public offering by Brickell Biotech, Inc., (Nasdaq: BBI), a clinical-stage pharmaceutical company focused on developing innovative and differentiated prescription therapeutics for the treatment of debilitating skin diseases. Each share of common stock (or pre-funded warrant in lieu thereof) was sold together with one investor warrant to purchase one share of common stock at a combined offering price of $1.15, for total gross proceeds of approximately $20.1 million, before underwriting discounts and commissions and offering expenses payable by Brickell.
Brickell anticipates using the net proceeds from the offering for research and development, including clinical trials, working capital, and general corporate purposes.
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