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Brickell Biotech, Inc. (BBI) is a clinical-stage pharmaceutical company dedicated to developing innovative and differentiated prescription therapeutics for debilitating skin diseases. With a primary focus on its lead asset, sofpironium bromide, Brickell is targeting the treatment of hyperhidrosis, a condition characterized by excessive sweating.
Brickell's executive management team and board of directors are seasoned professionals with significant experience in product development and global commercialization. They have previously held leadership roles at major pharmaceutical companies, contributing to the development and launch of successful products such as Cialis®, Taltz®, Gemzar®, Prozac®, Cymbalta®, and Juvederm®.
Brickell's strategic approach involves leveraging its team's vast experience to in-license, acquire, develop, and commercialize distinctive pharmaceutical products. The company aims to address unmet patient needs and bring transformative solutions to the market.
Recent updates indicate that Brickell is strengthening its cash position while exploring strategic options to maximize shareholder value. Additionally, the company plans to make cash distributions to shareholders, estimated to range between $5 million and $7 million, or $0.84 to $1.17 per share, pending shareholder approval and the filing of the certificate of dissolution.
Fresh Tracks Therapeutics (Nasdaq: FRTX) announced significant findings from preclinical studies of FRTX-02, an oral DYRK1A inhibitor, published in the Journal of Translational Autoimmunity. The study highlights FRTX-02's ability to modulate immune responses in models of psoriasis and atopic dermatitis, paving the way for its Phase 1 clinical trial. Topline results from this trial, assessing safety and dosing, are expected by Q1 2023. These preclinical results suggest FRTX-02 may offer a breakthrough approach to treating autoimmune diseases by restoring immune homeostasis.
Fresh Tracks Therapeutics reported progress in its Phase 1 study of FRTX-02, completing the single ascending dose (SAD) portion and initiating the multiple ascending dose (MAD) segment. Topline results are expected by early 2023. The company has $11.3 million in cash and revenue of $0.5 million for Q3 2022, a significant increase from $0.1 million the previous year. R&D expenses decreased to $3.6 million, while G&A expenses slightly fell to $3.0 million. The net loss narrowed to $6.0 million compared to $13.3 million in Q3 2021. Fresh Tracks continues to develop its pipeline, including FRTX-10.
Fresh Tracks Therapeutics (Nasdaq: FRTX) will release its third quarter financial results on November 10, 2022, at 4:30 PM EST. The company, focused on developing innovative therapeutics for autoimmune and inflammatory diseases, aims to disrupt traditional treatment paradigms. Following the earnings report, management will host a conference call to discuss results and corporate highlights. Investors can access the call via phone or a live audio webcast on the company’s website. A replay of the call will be available for 90 days post-event.
Fresh Tracks Therapeutics (FRTX) has initiated the multiple ascending dose (MAD) portion of its Phase 1 clinical trial for FRTX-02, a new DYRK1A inhibitor aimed at treating autoimmune and inflammatory diseases. The trial, which is ongoing in Canada, follows a successful single ascending dose (SAD) phase, demonstrating good safety and tolerability. Topline results are expected by early 2023. FRTX-02 shows potential to restore immune balance, setting the stage for a new treatment paradigm in autoimmune diseases.
Brickell Biotech has rebranded to Fresh Tracks Therapeutics with a new ticker symbol FRTX, effective September 8, 2022. This strategic shift aims to develop innovative therapies for autoimmune and inflammatory diseases. The company has formed a Scientific Advisory Board comprising experts in the field to guide its research. CEO Robert Brown emphasized the acquisition of multiple platforms, including the clinical-stage FRTX-02 and preclinical-stage FRTX-10, to enhance treatment paradigms. The rebranding represents a commitment to pioneering first-in-class therapeutics.
Brickell Biotech (Nasdaq: BBI) reported significant progress in its Phase 1 study of BBI-02, a DYRK1A inhibitor for autoimmune diseases, expecting to initiate the multiple ascending dose (MAD) part next month. The company also advanced BBI-10, a STING inhibitor, and is exploring next-generation kinase inhibitors. Financially, Brickell reported $4.3 million in Q2 2022 revenue, up from $0.2 million in Q2 2021, driven by an asset purchase agreement (APA) with Botanix. Cash reserves stood at $14.5 million, expected to fund operations for at least 12 months.
Brickell Biotech, Inc. (NASDAQ: BBI) announced it will report its second quarter financial results on August 11, 2022. Management will host a conference call and webcast at 4:30 p.m. EDT to discuss these results and recent corporate highlights. Interested parties can join the call at 1-844-826-3035 (U.S.) or through the live audio webcast on Brickell’s website. The company focuses on developing innovative therapeutics for autoimmune and inflammatory diseases, leveraging extensive industry experience in product development and commercialization.
Brickell Biotech, Inc. (Nasdaq: BBI) has announced it has regained compliance with Nasdaq's minimum bid price requirement, thereby avoiding potential delisting. The scheduled hearing regarding its compliance has been canceled, allowing Brickell’s common stock to continue trading on Nasdaq. The company is focused on developing innovative therapeutics for autoimmune and inflammatory diseases, with a robust pipeline and experienced management team.
Brickell Biotech, a clinical-stage pharmaceutical company (Nasdaq: BBI), will participate in a virtual fireside chat at the William Blair Biotech Focus Conference on July 11, 2022. The chat aims to showcase Brickell’s innovative therapeutics for autoimmune and inflammatory diseases. Attendees can access the chat on-demand starting at 9:00 am ET. A replay will be available for 90 days on Brickell's investor website. The management team boasts extensive experience in drug development from notable global pharmaceutical companies.
Brickell Biotech has announced a 1-for-45 reverse stock split approved by stockholders on June 30, 2022. This action, effective July 5, 2022, will reduce the number of outstanding shares from approximately 121.1 million to 2.7 million. The primary goal is to increase the stock price to comply with Nasdaq's $1.00 minimum bid requirement. Stockholders will receive a new share for every 45 held, and fractional shares will be sold, with the proceeds distributed as cash. This split aims to maintain the company's listing on the Nasdaq Capital Market.
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