Biotech Values

[DewDiligence]

VICL reverse-merges into (private) Brickell Biotech:

https://www.globenewswire.com/news-release/2019/06/03/1862969/0/en/Vical-and-Brickell-Announce-Merger-Agreement.html

Brickell’s lead pipeline asset, sofpironium bromide, is a pivotal Phase 3-ready topical soft anticholinergic intended for axillary hyperhidrosis.

… existing Vical stockholders will own 40% of the combined company and Brickell stockholders will own 60% of the combined company…

…Following the Merger, the combined company will be led by the current Brickell management team… The board of directors of the combined company will be comprised of seven directors, including five current directors of Brickell…

VICL investors don’t like the deal, evidently; the stock is -13% as I’m typing.