Brickell Biotech Inc. (NASDAQ: BBI) jumped 7% in a week. The company and Voronoi Inc. have signed a definitive agreement with Voronoi Inc. for exclusive global rights to treatment developed from the novel DYRK1A inhibitor platform. Notably, the DYRK1A inhibitor platform seeks to restore the immune balance of individuals with dysregulated immune systems.
As a result, the inhibitors offer potential in a wide range of inflammatory and autoimmune diseases. Brickell’s initial flagship program will be BBI-02, the first phase–read DYRK1A inhibitor that has shown encouraging results in different preclinical models that include rheumatoid arthritis and atopic dermatitis. Equally, BBI0-2 has shown a promising reduction in the severity of disease and a decrease in pro-inflammatory cytokines relative to available standard of care therapies.
The company will initiate Phase 1 trial for BBI-02 next year. Under the agreement, Voronoi will receive a cash payment of $2.5 million, and Brickell common shared valued at $2.5 million. Additionally, Voronoi will receive a milestone payment of around $211 million from Brickell for BBI-02 and BBI-03. So, in the coming weeks, BBI is worth watching.
Market Reaction:
On Wednesday, BBI stock gained 1.42% at $0.75 with more than 1.05 million shares, compared to its average volume of 1.19 million shares. The stock has moved within a range of $0.7171 – 0.7500 after opening the trade at $0.74.
