Full Press Release Details
Email:mkrusin@azurrx.com
BioPharma Announces Pricing of Initial Public
October 11, 2016 AzurRx BioPharma Inc. (NASDAQ: AZRX)
( AzurRx or the Company ), a company
specializing in the development of non-systemic, recombinant
therapies for gastrointestinal diseases, announced today that its initial public offering
of 960,000 shares of common stock has been priced at $5.50 per
share. Total gross proceeds from the offering will be
shares will begin trading on October 11, 2016 on the NASDAQ Capital
Market under the ticker symbol "AZRX." The underwriters have a
45-day option to purchase up to 144,000 additional shares of common
stock from AzurRx to cover over-allotments, if any. The Company
intends to use the net proceeds of the offering to conduct the
necessary validation testing on the MS1819 capsules that will be
used in future clinical studies, to conduct the phase 2a trial, and
for working capital and general corporate purposes.
Capital, LLC and Network1 Financial Securities, Inc. acted as
co-book running managers and ViewTrade Securities Inc. acted as a
co-manager for the offering.
AzurRx's registration statement relating to
these securities was declared effective as of October 11, 2016 by
the U.S. Securities and Exchange Commission. Copies of the
final prospectus may be obtained on the SEC's website,
www.sec.gov, and by contacting WallachBeth Capital, LLC, Attention:
Capital Markets, 100 Wall Street, Suite 6600, New York, NY 10005,
by telephone at 646-998-7605, or by email at cap-mkts@wallachbeth.com
or Network 1 Financial Securities, Inc., Attention: Keith
Testaverde, by telephone at 800-886-7007 or by mail at 2 Bridge
Avenue, Suite 241, Redbank, NJ 07701.
news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there
be any sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
AzurRx BioPharma, Inc.:
BioPharma, Inc. (NASDAQ: AZRX) aims to become a leader in
developing non-systemic, recombinant protein therapies for the
treatment of gastrointestinal diseases and related conditions.
MS1819 recombinant lipase for exocrine pancreatic insufficiency is
the company's lead development program, and additional early
stage research is being conducted for the prevention of
hospital-acquired infection. The company is headquartered in
Brooklyn, NY, with scientific operations based in Langlade,
Parkside Avenue Downstate Biotechnology Incubator Suite 217