NEW YORK, NY— October 19, 2016—AzurRx BioPharma Inc. (NASDAQ: AZRX), a company specializing in the development of non-systemic, recombinant therapies for gastrointestinal diseases, announced Tuesday October 11th that its initial public offering of 960,000 shares of common stock was priced at $5.50 per share. Total gross proceeds from the offering were $5,280,000.
The shares began trading on October 11, 2016 on the NASDAQ Capital Market under the ticker symbol “AZRX.” The underwriters have a 45-day option to purchase up to 144,000 additional shares of common stock from AzurRx to cover over-allotments, if any. The Company intends to use the net proceeds of the offering to conduct the necessary validation testing on the MS1819 capsules that will be used in future clinical studies, to conduct the phase 2a trial, and for working capital and general corporate purposes.
WallachBeth Capital LLC acted as co-book-running manager for the offering.
AzurRx’s registration statement relating to these securities was declared effective as of October 11, 2016 by the U.S. Securities and Exchange Commission.
About AzurRx Biopharma
AzurRx BioPharma, Inc. (NASDAQ:AZRX) aims to become a leader in developing non-systemic, recombinant protein therapies for the treatment of gastrointestinal diseases and related conditions. MS1819 recombinant lipase for exocrine pancreatic insufficiency is the company’s lead development program, and additional early stage research is being conducted for the prevention of hospital-acquired infection. The company is headquartered in Brooklyn, NY, with scientific operations based in Langlade, France.
About WallachBeth Capital LLC
WallachBeth Capital is a leading provider of institutional execution services, offering clients a full spectrum of solutions to help them navigate increasingly complex markets. The firm’s expertise includes ETF and equity trading, derivatives, healthcare research and capital markets. Operating on a fully disclosed, agency-only basis, the firm is committed to facilitating all client needs with transparency and integrity. The firm’s website is located at www.wallachbeth.com.
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