VIRI - Virios Therapeutics Announces Proposed Public Offering of Common Stock to Commence Preparations for Planned IMC-2 Long-COVID Phase 2b Study | Benzinga
ATLANTA, May 17, 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 that it intends to offer and sell up to $2.1 million in shares of its common stock in a public offering. All shares of common stock in the offering are to be offered by Virios Therapeutics. Virios Therapeutics intends to use the net proceeds of the proposed offering to commence preparatory activities for its planned IMC-2 Long-COVID Phase 2b study and for general corporate purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Maxim Group LLC is acting as sole placement agent, on a reasonable best-efforts basis, for the proposed offering.
The public offering is being 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 may be offered only by means of a prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the ...