Monday, July 26, 2021 6:57:59 AM
Boca Raton, FL – July 22, 2021 -- AzurRx BioPharma, Inc. (NASDAQ: AZRX), (“AzurRx” or the “Company”), a clinical stage biopharmaceutical company specializing in the development of targeted, non-systemic therapies for gastrointestinal (GI) diseases, announced today that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 9,090,910 shares of common stock of the Company, at a price to the public of $0.55 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about July 27, 2021, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.
The Company has granted to the underwriter a 30-day option to purchase up to an additional 1,363,636 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to AzurRx, before deducting underwriting discounts and commissions and offering expenses and assuming no exercise of the underwriter’s option to purchase additional common stock, are expected to be approximately $5.0 million. The Company intends to use the net proceeds from this offering for milestone payments due under our license agreements and for other general corporate purposes, which may include product manufacturing, clinical development, acquisitions or investments in complementary businesses, products or technologies, and/or increases in working capital.
The shares of common stock are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-256476) previously filed with the Securities and Exchange Commission (the “SEC”) on May 26, 2021, and declared effective by the SEC on June 2, 2021. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to, and describing the terms of, the offering have been filed with the SEC and are available on the SEC’s website at http://www.sec.gov. A final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and, upon filing, may be obtained on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail at placements@hcwco.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About AzurRx BioPharma, Inc.
AzurRx BioPharma, Inc. (NASDAQ: AZRX) is a clinical stage biopharmaceutical company specializing in the development of targeted, non-systemic therapies for gastrointestinal (GI) diseases. The Company has a pipeline of three gut-restricted GI assets. The lead therapeutic candidate is MS1819, a recombinant lipase for the treatment of exocrine pancreatic insufficiency (EPI) in patients with cystic fibrosis and chronic pancreatitis, currently in two Phase 2 clinical trials. AzurRx is launching two clinical programs in 2021 using proprietary formulations of niclosamide, a pro-inflammatory pathway inhibitor, FW-1022 for COVID-19 gastrointestinal infections, and FW-420 for grade 1 Immune Checkpoint Inhibitor-Associated Colitis and diarrhea in oncology patients. The Company is headquartered in Boca Raton, Florida with clinical operations in Hayward, California. For more information, visit www.azurrx.com.
Recent FWBI News
- First Wave BioPharma, Inc. to raise approximately $1.1 million of Gross Proceeds Priced At-the-Market • GlobeNewswire Inc. • 05/10/2024 11:55:00 AM
- First Wave BioPharma and Celiac Journey to Host Nasdaq Event in Support of Celiac Disease Awareness Month • GlobeNewswire Inc. • 05/09/2024 11:00:00 AM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 05/08/2024 09:16:31 PM
- First Wave BioPharma Announces Invited Paper for Special Edition on Celiac Disease in Peer-Reviewed Scientific Journal, Nutrients • GlobeNewswire Inc. • 04/24/2024 11:00:00 AM
- First Wave BioPharma CEO James Sapirstein to Present at the Planet MicroCap Showcase • GlobeNewswire Inc. • 04/17/2024 11:00:00 AM
- First Wave BioPharma CEO James Sapirstein to Participate in 2024 Longwood Healthcare Leaders Conference • GlobeNewswire Inc. • 04/15/2024 11:00:00 AM
- First Wave BioPharma Announces Two Abstracts on Celiac Disease Research Accepted for Presentation at the 2024 Digestive Disease Week (DDW) Conference • GlobeNewswire Inc. • 03/18/2024 11:00:00 AM
- First Wave BioPharma Announces Completion of Business Combination with ImmunogenX, Adding Phase 3-Ready Latiglutenase to its Late-Stage GI-Focused Clinical Pipeline • GlobeNewswire Inc. • 03/14/2024 10:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 10:26:27 PM
- First Wave BioPharma to Participate In ‘Fireside Chat’ at the 36th Annual Roth Conference • GlobeNewswire Inc. • 03/05/2024 12:00:00 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 03/04/2024 10:29:57 PM
- First Wave BioPharma, Inc. to Raise Approximately $4.0 Million of Gross Proceeds in Registered Direct Offering • GlobeNewswire Inc. • 03/04/2024 01:00:00 PM
- First Wave BioPharma CEO to Present at the BIO CEO & Investor Conference 2024 • GlobeNewswire Inc. • 02/13/2024 12:00:00 PM
- First Wave BioPharma to Present at the DealFlow MicroCap Conference • GlobeNewswire Inc. • 01/23/2024 12:00:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 01/18/2024 09:01:56 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 01/18/2024 05:15:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/17/2024 09:02:51 PM
- First Wave BioPharma CEO to Present at the Sequire Investor Summit 2024 in Puerto Rico • GlobeNewswire Inc. • 01/17/2024 12:00:00 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 01/08/2024 10:14:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 10:13:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 10:13:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/04/2024 01:22:04 PM
- First Wave BioPharma Chairman and CEO Issues Letter to Shareholders Highlighting Recent Accomplishments and Outlook for 2024 • GlobeNewswire Inc. • 01/04/2024 11:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 12:54:55 AM
- Form RW - Registration Withdrawal Request • Edgar (US Regulatory) • 12/28/2023 05:21:53 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM