Benzinga | Oct 23, 2020 11:18AM EDT

Why Brickell Biotech's Stock Is Trading Lower Today

Brickell Biotech (NASDAQ: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.