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Brickell Biotech (NASDAQ:BBI) dropped 29% premarket after it priced its earlier announced underwritten public offering of 26.32M shares at $0.38/share. Underwriters granted 30-day option to purchase up to 3.95M shares. Offer is expected to close on Nov.1. Gross proceeds are expected to be ~$10M; net proceeds to be used for research and development, including clinical trials, working capital, business development and general corporate purposes.