"An indication of interest (IOI) is an underwriting expression showing a conditional, non-binding interest in buying a security that is currently in registration (awaiting approval by the Securities and Exchange Commission [SEC]). The investor's broker is required to provide the investor with a preliminary prospectus."
BioPharmX continues to be in ongoing discussions with a number of potential strategic partners regarding interest in the company's BPX-01 product candidate for the treatment of acne. The company continues to assess several written indications of interest and is evaluating the variety of financial and strategic benefits of the various options. Management remains diligent and deliberate in its thoughtful consideration of options as it works to maintain the best interests of the company and its shareholders.
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