BioPharmX (NYSE: BPMX) has successfully completed a sale of 6,410,258 shares of common stock at a price of $0.78 per share with 50% warrant coverage, representing warrants to purchase up to 3,205,129 shares of common stock, in a registered direct offering. ROTH Capital Partners acted as sole placement agent in the offering. Beginning six months following the closing date, the warrants will be exercisable at an exercise price of $0.90 per share and will expire five years from the date they become exercisable. Gross proceeds of the offering are anticipated to be approximately $5.0 million. The specialty pharmaceutical company said it intends to use the proceeds from the offering to advance the BioPharmX dermatology-focused drug delivery and clinical programs, including advancing the company’s lead product BPX-01, and for general corporate purposes.
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About BioPharmX Corporation
BioPharmX Corporation (NYSE: BPMX) is a Silicon Valley-based specialty pharmaceutical company that seeks to provide products through proprietary platform technologies for prescription, over-the-counter and supplement applications in dermatology and women’s health. To learn more about BioPharmX, please visit www.BioPharmX.com.
About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit www.roth.com.
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