Why Brickell Biotech's Stock Is Trading Lower Today

Brickell Biotech BBI shares are trading lower on Friday after the company priced an offering of 20.8 million units at 72 cents per unit.

Brickell Biotech is a United States-based clinical-stage pharmaceutical company focused on developing therapeutics for the treatment of skin diseases. Its pipeline consists of therapeutics for Hyperhidrosis, Cutaneous T-cell lymphoma, Psoriasis, and Other prevalent severe skin diseases. The company's pipeline products include Sofpironium Bromide, BBI-3000 and BBI-6000 among others.

Brickell Biotech shares traded down 21.89% to 56 cents on Friday at the time of publication. The stock has a 52-week high of $3.98 and a 52-week low of 55 cents.