BioPharmX Secures $9,900,000 New Funding

  • Feed Type
  • Date
    6/25/2015
  • Company Name
    BioPharmX
  • Mailing Address
    1098 Hamilton Court Menlo Park, CA 94025 USA
  • Company Description
    BioPharmX, Inc. (NYSE: BPMX) provides innovative drug-delivery products through its unique, patented platform technologies for pharmaceutical and OTC applications.
  • Website
    http://www.biopharmx.com
  • Transaction Type
    IPO
  • Transaction Amount
    $9,900,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    As of April 30, 2015, we had cash of $0.5 million. We currently intend to use the net proceeds we receive from this offering and the KIP private placement, together with our existing cash, as follows: approximately $4.0 million for research and development expenses associated with the development of our product candidates and research and development pipeline; approximately $3.0 million for marketing and advertising expense to build awareness and sell through volume at drug stores and supplement stores for VI2OLET; and the balance to be used primarily to fund working capital, capital expenditures and other general corporate purposes, including strategic hires.
  • M&A Terms

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