VC-backed NephroGenex debuts IPO

NephroGenex launched its IPO after pricing its offering of 3.1 million shares at $12 per share. The stock began trading Tuesday on the NASDAQ under the ticker symbol “NRX.” Aegis Capital Corp is the lead underwriter. Headquartered in Research Triangle Park, NC, NephroGenex is a pharmaceutical company focused on treating kidney disease. Its backers include Care Capital, BioStratum and Vanderbilt University Office of Investments.

PRESS RELEASE

RESEARCH TRIANGLE PARK, N.C., Feb. 10, 2014 (GLOBE NEWSWIRE) — NephroGenex, Inc. (Nasdaq:NRX), a pharmaceutical company focused on the development of therapeutics to treat kidney disease, today announced the pricing of its initial public offering of 3,100,000 shares of its common stock at an initial public offering price of $12.00 per share. The gross proceeds to NephroGenex is expected to be $37,200,000 before underwriting discounts and commissions and other offering expenses. All of the common stock is being offered by NephroGenex. In addition, NephroGenex has granted the underwriters a 45-day option to purchase up to an additional 465,000 shares of common stock from NephroGenex to cover over-allotments, if any. NephroGenex’s common stock has been approved for listing on the NASDAQ Capital Market and is expected to begin trading under the ticker symbol “NRX” on February 11, 2014.

The offering is expected to close on February 14, 2014, subject to customary closing conditions.

Aegis Capital Corp. is acting as sole book-running manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on February 10, 2014. The offering will be made only by means of a prospectus. A copy of the final prospectus relating to these securities will be filed with the SEC and may be obtained from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, via telephone at (212) 813-1010, or via email at prospectus@aegiscap.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About NephroGenex, Inc.

NephroGenex (Nasdaq:NRX) is a clinical-stage pharmaceutical company focused on developing therapeutics to treat kidney diseases caused by pathogenic oxidative chemistries. Since our inception, we have collaborated with the world’s leading experts and leveraged our knowledge of pathogenic oxidative chemistries to build a strong portfolio of intellectual property and to advance the development of our drug candidates. Our clinical product pipeline includes an oral formulation of Pyridorin, which is being developed as a chronic, therapeutic agent to slow the progression of diabetic nephropathy, as well as the application of an intravenous formulation of Pyridorin to treat specific types of acute kidney injury.

 

 

 

 

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