BioPharmX Offering 5.5M Shares @$0.36/Share
We are offering 5,500,000 shares of our common stock, par value $0.001 per share to investors in a registered direct offering pursuant to this prospectus supplement and the accompanying prospectus and a securities purchase agreement with such investors.
Our common stock is traded on the NYSE MKT under the symbol “BPMX.” On July 21, 2017, the last reported sale price of our common stock was $0.46 per share.
The aggregate market value of our outstanding common stock held by non-affiliates was approximately $30.4 million, which was calculated based on 46,038,855 shares of outstanding common stock that will be held by non-affiliates as of July 21, 2017, and a price per share of $0.66, the closing price of our common stock on May 23, 2017. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities pursuant to the registration statement (of which this prospectus supplement forms a part) with a value more than one-third of the aggregate market value of our common stock held by non-affiliates in any 12-month period, so long as the aggregate market value of our common stock held by non-affiliates is less than $75.0 million. During the prior 12 calendar month period that ends on, and includes, the date of this prospectus supplement, we have offered securities with an aggregate market value of $10.1 million pursuant to General Instruction I.B.6 on Form S-3.
