AZRX - AzurRx BioPharma launches $10M registered direct offering priced at-the-market

AzurRx BioPharma ([[AZRX]] +5.8%) entered into a securities purchase agreement with a single healthcare-focused institutional investor providing for the sale and issuance of 7,858,548 shares of common stock and warrants to purchase up to an aggregate of 3,929,274 shares at $1.2725/share via a registered direct offering priced at-the-market.Warrants will be exercisable immediately at an exercise price of $1.21/share and will expire five years from issuance date.Expected gross proceeds of ~$10M.Offer is expected to close on or about March 10, 2021.Proceeds to be used for funding and initiating its two niclosamide clinical programs in the first half of 2021, a Phase 2 clinical trial for COVID-19 GI infections and a Phase 1b/2a trial for immune checkpoint inhibitor induced colitis and for other general corporate purposes.

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AzurRx BioPharma launches $10M registered direct offering priced at-the-market