VIRI - Virios Therapeutics Announces Closing of $1.7 Million Public Offering of Common Stock to Commence Preparations for Planned IMC-2 Long-COVID Phase 2b Study | Benzinga
ATLANTA, May 22, 2024 (GLOBE NEWSWIRE) -- Virios Therapeutics, Inc. (NASDAQ:VIRI) (the "Company" or "Virios Therapeutics"), a development-stage biotechnology company focused on advancing novel antiviral therapies to treat debilitating chronic diseases, including fibromyalgia ("FM") and Long-COVID ("LC"), today announced the closing of its previously announced public offering of 8,500,000 shares of its common stock at a public offering price of $0.20 per share. Gross proceeds from the offering are $1.7 million before deducting placement agent fees and offering expenses. Virios Therapeutics intends to use the net proceeds of the offering to commence preparatory activities for its planned IMC-2 Long-COVID Phase 2b study and for general corporate purposes.
Maxim Group LLC acted as sole placement agent, on a reasonable best-efforts basis, for the offering.
The public offering was made pursuant to an effective shelf registration statement on Form S-3, (File No. 333-263700), previously filed with the U.S. Securities and Exchange Commission (SEC) on March 18, 2022, and declared effective on April 28, 2022. The securities were offered only by means of a prospectus. A final prospectus supplement and an accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement ...