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BioPharmX (BPMX) Enters 1.55M Share Stock Sales Agreement

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BioPharmX (BPMX) Enters $930k Registered Direct Offering of Common Stock

September 26, 2016 9:09 AM EDT

BioPharmX Corporation (NYSE: BPMX) announced that it has entered into a definitive agreement with institutional investors to purchase shares of common stock for aggregate gross proceeds of approximately $930,000 in a registered direct offering. The closing of the offering is expected to take place on or about September 29, 2016, subject to the satisfaction of customary closing conditions.

In connection with the offering, the Company will issue approximately 1,550,000 registered shares of common stock at a purchase price of $0.60 per share. Concurrently in a private placement, for each share of common stock purchased by... More