Brickell Biotech BBI Stock News

Brickell Biotech Inc (NASDAQ: BBI) is making a run for the top in the market this morning, trading on gain of more than 130% in the premarket hours. The gains come after the company announced positive clinical data. Here’s what’s going on:

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BBI Stock Flies On Positive Data

In the press release, Brickell Biotech provided positive Phase 2 pivotal study results from its development partner in Japan known as Kaken Pharmaceutical Co. Ltd. Importantly, the company said that all primary and secondary endpoints were successfully met.

During the study, the company’s topically applied sofpironium bromide gel was provided to patients with primary axillary hyperhidrosis. Importantly, Kaken has already submitted the new drug application for approval in Japan.

BBI reminded investors that 281 Japanese subjects were included in the trial on a 1:1 ratio of drug to placebo. The treatment lasted a total of 42 days. As mentioned above, all primary and secondary endpoints were met.

Moreover, the study resulted in no serious adverse events related to the treatment. In a statement, Deepak Chadha, Chief Research & Development Officer at BBI, had the following to offer:

We are encouraged by these positive results and are pleased by the filing of the Japanese New Drug Application based on this Phase 3 study by Kaken. We believe there is growing interest from the global medical community for novel therapeutic options for the treatment of primary axillary hyperhidrosis and think these data provide additional clinical support for sofpironium bromide to be a potential best-in-class treatment.

This News Is Huge

Ultimately, the news issued by Brickell Biotech is overwhelmingly positive. The data showed that the treatment is not only effective, but a safe option for this patient population.

Should all continue to go well for the company, it could break into a vast market relatively soon. In fact, experts expect that the primary axillary hyperhidrosis market will grow to be worth around $1.87 billion annually by 2026.

Considering the fact that BBI stock trades with a market cap of around $12 million, breaking into this market would be a massive opportunity, making this stock one to watch closely.

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