San Diego-based Vical Inc. and Boulder, Colo.-based Brickell Biotech Inc. completed their previously approved merger, with the combined company operating under the name of Brickell Biotech Inc.
Following the completion of the merger, the combined company has about 7.8 million outstanding common shares. Brickell's stockholders received about 56% of outstanding shares while Vical's stockholders held onto about 44%.
Last week, Vical's board approved a 1-for-7 reverse split. The combined company, Brickell Biotech Inc., will begin trading on the post-split basis on the Nasdaq Capital Market today under the ticker symbol BBI.
