Brickell Biotech Inc (BBI)

[lojack]

Sold my position over here before the new price offering announcement.
https://ir.brickellbio.com/news/detail/39/brickell-biotech-announces-pricing-of-15-0-million

Read it in the 8K, I guess this company is using the reasoning of these new tests they are starting up to do another price offering 3 and a half months after they did the last one for 20 million worth..
https://ir.brickellbio.com/news/detail/31/brickell-biotech-inc-announces-pricing-of-20-1-million

Before they could even try and get their pps above a dollar to meet the warning letter of delisting to the otc
https://www.google.com/amp/s/www.dailycamera.com/2020/08/24/brickell-biotech-gets-delisting-notice-from-nasdaq/amp/

So why do they just keep running their pps in to the ground?
There are really two outcomes I can see happening, either the company doesn’t give a sh*t anymore and see you in the otc, or they are sitting on something that is going to push this to stay over a dollar and will release it sometime between now and the time given for the delisting.

If you look at all of the recent stock acquisitions by the people that run the company, most are purchasing shares around .80 pps average. So if they knew by releasing this offering a month after they bought stock for a third higher than its trading after the offering. They are either throwing their money away, or they know it will be higher very soon..

I am considering taking another position but staying on the sidelines for now. Good luck to everyone!
-BBI