SAN JOSE, Calif., March 21, 2019 /PRNewswire/ -- BioPharmX
Corporation (NYSE American: BPMX), a specialty pharmaceutical
company focused on developing innovative medical dermatology
products, today announced that it has entered into securities
purchase agreements with certain institutional investors for the
purchase and sale of 43,645,000 shares of common stock at a price
of $0.09 per share in a
registered direct offering. The gross proceeds of the offering are
expected to be approximately $3.9
million.
Net proceeds of the offering will be used to advance the
BioPharmX clinical programs, product development and general
corporate purposes.
The offering is expected to close on March 25, 2019, subject to customary closing
conditions.
Roth Capital Partners acted as sole placement agent.
The shares of common stock were offered by BioPharmX pursuant to
a shelf registration statement on Form S-3 (File No. 333-229459)
which was declared effective by the Securities and Exchange
Commission (SEC) on February 13,
2019. A prospectus supplement relating to the offering will
be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. When available,
copies of the prospectus supplement and accompanying base
prospectus relating to this offering may be obtained from Roth
Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by
accessing the SEC's website, www.sec.gov.
About BioPharmX® Corporation
BioPharmX Corporation (NYSE American: BPMX) is a specialty
pharmaceutical company focused on developing prescription products
utilizing its proprietary HyantX Topical Delivery System for
dermatology indications. To learn more about BioPharmX, visit
www.BioPharmX.com.
Forward-Looking Statement
The information in this press release contains forward-looking
statements and information within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, which are subject to
the "safe harbor" created by those sections. This press release
contains forward-looking statements about the company's
expectations, plans, intentions, and strategies. Additional risks
are set forth in our filings with the Securities and Exchange
Commission, including those described in the company's Annual
Report on Form 10-K for the fiscal year ended January 31, 2019. The forward-looking statements
included in this press release are made only as of the date hereof,
and the company undertakes no obligation to publicly update such
statements.
BioPharmX and HyantX are registered trademarks of BioPharmX,
Inc.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/biopharmx-announces-3-9-million-offering-300816382.html
SOURCE BioPharmX Corporation