BOULDER, Colorado, July 19, 2021 (GLOBE NEWSWIRE) – Brickell Biotech, Inc. (Nasdaq: BBI) (“Brickell” or the “Company”), a clinical-stage pharmaceutical company focused on the development of innovative prescription drugs and differentiated for the treatment of debilitating skin diseases, today announced that it has entered into a subscription agreement with HC Wainwright & Co., LLC under which the underwriter has agreed to purchase on a firm commitment basis 8,064,517 common shares of the Company at a public price of $ 0.62 per share, less subscription discounts and commissions. The closing of the public offer is expected to take place on or around July 22, 2021, subject to the satisfaction of the usual closing conditions.

HC Wainwright & Co. acts as the sole accounting manager of the offering.

The Company has granted the underwriter a 30-day option to purchase up to 1,209,677 additional common shares at the public offering price, less underwriting discounts and commissions.

The gross proceeds of the Offer are expected to be approximately $ 5.0 million, before the deduction of any subscription rebates and commissions and any offering fees payable by Brickell and assuming no exercise of the call option. additional shares have been exercised. The Company intends to use the net proceeds of the offering for research and development, including clinical trials, working capital and general business purposes.

The common shares described above are offered by the Company in accordance with a “shelf” registration statement on Form S-3 (File No. 333-254037) filed with the Securities and Exchange Commission (“SEC”) and declared effective on March 17, 2021. The offering of the ordinary shares is made only by means of a prospectus, including a prospectus supplement, forming part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Electronic copies of the preliminary prospectus supplement and accompanying prospectus, as well as the final prospectus supplement and accompanying prospectus, when available, may also be obtained by contacting HC Wainwright & Co., LLC. at 430 Park Avenue, 3rd Floor, New York, NY 10022, by emailing [email protected] or by calling (212) 856-5711.

This announcement is not an offer to sell, nor a solicitation of an offer to buy, any of these securities and does not constitute an offer, solicitation or sale in any state or jurisdiction where such an offer , solicitation or sale is illegal before registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if any, will be made only by means of the prospectus forming part of the actual registration statement.

About Brickell

Brickell Biotech, Inc. is a clinical-stage pharmaceutical company focused on the development of innovative and differentiated prescription treatments for debilitating skin diseases, with a focus on its primary active, sofpironium bromide for the treatment of ‘hyperhidrosis. Brickell’s management team and board of directors bring extensive experience in product development and global commercialization, having held leadership positions in large global pharmaceutical and biotechnology companies that have developed and / or launched products. successful, many of which were first in their class and / or achieved iconic status, such as Cialis®, Taltz®, Gemzar®, Prozac®, Cymbalt® and Juvéderm®. Brickell’s strategy is to leverage this experience to license, acquire, develop and commercialize innovative and differentiated pharmaceuticals that Brickell believes can succeed in the marketplace and transform lives by solving currently unmet patient needs. .

Caution Regarding Forward-Looking Statements

All statements made in this press release regarding our expectations regarding the completion, timing and size of the Offer and the intended use of the net proceeds are forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. In addition, when or if they are used in this press release, the words “may”, “could”, “should”, “anticipate”, “believe”, “estimate”, “expect”, “have” Intent to ”,“ Plan ”,“ Predict, ”Brickell cautions that such forward-looking statements are subject to many assumptions, risks and uncertainties, which change over time, often rapidly and in unforeseen ways. Important factors that may cause actual results to differ materially from results discussed in forward-looking statements or historical experience include risks and uncertainties, including, without limitation, market conditions and the satisfaction of closing conditions. usual related to the offer. Further information on the factors and risks that could cause actual results to differ from forward-looking statements is contained in the documents filed by Brickell with the United States Securities and Exchange Commission. Forward-looking statements represent Brickell’s estimates as of the date hereof only, and Brickell specifically disclaims any obligation or obligation to update any forward-looking statements.

Contact for Brickell investors:
Dan Ferry
LifeSci Advisors
(617) 430-7576
[email protected]

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