Brickell Biotech Inc. (Nasdaq: BBI) reported a net loss of just over $5 million as it prepares to start final clinical trials for its flagship anti-sweating treatment in the U.S.
The Boulder company reported $600,000 in revenue last quarter compared to $2.6 million in the same period last year, with the drop being attributed to a slowdown in payments from Japanese development partner Kaken Pharmaceutical Co. Ltd.
It reported an overall net loss of $5.1 million for the period.
Brickell’s main product is sofpironium bromide, a treatment for excessive sweating. The company reported positive results on its Phase III clinical trial in Japan in June.
Brickell and Kaken expect a regulatory decision for sale in Japan within the fourth quarter of this year, along with a Phase III trial for U.S. patients around the same time.
The company raised $18.7 million from new stock sales on the heels of that announcement.
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