Dipexium Pharmaceuticals, Inc. (Nasdaq: DPRX), a late stage pharmaceutical company focused on the development and commercialization of Locilex® (pexiganan cream 0.8%), today announced it intends to offer and sell common stock in an underwritten public offering. The Company also expects to grant to the underwriters for the offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering. Raymond James & Associates, Inc. is acting as sole book-running manager for the offering. Feltl and Company is acting as co-manager for the offering.
The Company intends to use the net proceeds from the offering to fund its operations and for other general corporate purposes, including, but not limited to, its internal research and development programs and the development of new programs and general working capital.
The shares will be issued pursuant to an effective shelf registration statement that was previously filed with the SEC and was declared effective on June 19, 2015.
SOURCE Dipexium Pharmaceuticals, Inc.