On March 9, 2021, Brickell Biotech, Inc. (the "Company"), reported that it entered into an At Market Issuance Sales Agreement (the "Agreement") with Oppenheimer & Co. Inc. and William Blair & Company, L.L.C. as the Company’s sales agents (the "Agents") (Filing, 8-K, Vical, MAR 9, 2021, View Source [SID1234576329]). Pursuant to the terms of the Agreement, the Company may sell from time to time through the Agents shares of the Company’s common stock having an aggregate offering price of up to $50,000,000 (the "Shares"). Any Shares will be issued pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-254037) filed with the Securities and Exchange Commission (the "SEC") on March 9, 2021.

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Sales of the Shares, if any, will be made by means of ordinary brokers’ transactions on the Nasdaq Capital Market at market prices or as otherwise agreed by the Company and the Agents. Under the terms of the Agreement, the Company may also sell the Shares from time to time to an Agent as principal for its own account at a price to be agreed upon at the time of sale. Any sale of the Shares to an Agent as principal would be pursuant to the terms of a separate placement notice between the Company and such Agent.