BioPharmX Corporation Closes Direct Investment
Post# of 223
Posted On: 12/10/2015 5:24:22 PM
BioPharmX Corporation Closes Direct Investment
MENLO PARK, Calif., Dec. 10, 2015 /PRNewswire/ -- BioPharmX Corporation (NYSE MKT: BPMX), a specialty pharmaceutical company focusing on dermatology and women's health, today announced the closing of a direct investment of approximately $5.9 million through the sale of 4,100,000 shares of the Company's common stock at a purchase price of $1.43 per share to investment vehicles of Franklin Advisers.
"This investment is an important recognition of the value that our pipeline promises and will help us accelerate our efforts to fulfill the unmet medical and wellness needs of patients," said Jim Pekarsky, BioPharmX CEO. "It will support our Violet marketing programs, facilitate clinical trials for our topical acne treatment and help us advance additional pipeline initiatives."
The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. As part of the transaction, the Company has agreed to file a resale registration statement on Form S-3 with the Securities and Exchange Commission within three months of the closing for purposes of registering the resale of the shares of common stock issued in the private placement. CRT Capital Group LLC acted as a financial advisor to the Company.
http://www.prnewswire.com/news-releases/bioph...91402.html
MENLO PARK, Calif., Dec. 10, 2015 /PRNewswire/ -- BioPharmX Corporation (NYSE MKT: BPMX), a specialty pharmaceutical company focusing on dermatology and women's health, today announced the closing of a direct investment of approximately $5.9 million through the sale of 4,100,000 shares of the Company's common stock at a purchase price of $1.43 per share to investment vehicles of Franklin Advisers.
"This investment is an important recognition of the value that our pipeline promises and will help us accelerate our efforts to fulfill the unmet medical and wellness needs of patients," said Jim Pekarsky, BioPharmX CEO. "It will support our Violet marketing programs, facilitate clinical trials for our topical acne treatment and help us advance additional pipeline initiatives."
The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. As part of the transaction, the Company has agreed to file a resale registration statement on Form S-3 with the Securities and Exchange Commission within three months of the closing for purposes of registering the resale of the shares of common stock issued in the private placement. CRT Capital Group LLC acted as a financial advisor to the Company.
http://www.prnewswire.com/news-releases/bioph...91402.html
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