Apexigen Inc., of San Carlos, Calif., announced the completion of a $65 million equity financing, led by Decheng Capital and Oceanpine Capital and including participation from other new and existing investors. The financing is an extension of the company's series C financing of $58 million, previously announced in August 2018, bringing the total amount raised in the series C to $123 million. Apexigen intends to use the proceeds to support the ongoing clinical development of APX-005M, currently in multiple phase II trials for solid tumors, as well as development of other therapies in its pipeline.

Baudax Bio Inc., of Malvern, Pa., announced the pricing of an underwritten public offering of about 7.7 million shares of its common stock, series A warrants to purchase 7.7 million shares of common stock and series B warrants to purchase 7.7 million shares of common stock, for a gross offering of $25 million, not including any future proceeds from the exercise of warrants. JMP Securities LLC and Oppenheimer & Co. Inc. are acting as joint book-running managers. The company intends to use the proceeds for the launch and the commercialization of Anjeso, pipeline development and general corporate purposes.

Cel-Sci Corp., of Vienna, Va., announced that, due to demand, the underwriter agreed to increase the size of its previously announced offering and purchase on a firm commitment basis 630,500 shares of common stock of the company, at a price to the public of $12.22 per share, a 5% discount to the closing price per share. Aegis Capital Corp. is the sole book-running manager. The gross proceeds, assuming no exercise of the option, are expected to be approximately $7.7 million. The company intends to use proceeds to fund the continued development of Multikine, Leaps and for general corporate purposes.

Eyenovia Inc., of New York, announced that it received subscriptions for a private placement of approximately $6 million of units at a price to the public of $2.21425 per unit. Each unit consists of one share of common stock, a one-year warrant to purchase 0.5 share of common stock and a five-year warrant to purchase 0.75 share of common stock. National Securities Corp. acted as the sole placement agent. The company intends to use the proceeds for the Microline and Micropine clinical studies, to advance Microstat’s NDA and for general corporate purposes.

Hoth Therapeutics Inc., of New York, announced the pricing of its previously announced underwritten public offering of about 1.4 million shares of its common stock at a price to the public of $3.45 per share. Gross proceeds are expected to be approximately $5 million. Laidlaw & Co. (UK) Ltd. is acting as sole book-running manager for the offering. The company intends to use the proceeds for general corporate purposes, including the development of products to prevent the COVID-19 virus.

Moberg Pharma AB, of Stockholm, entered a convertible note agreement with Nice & Green SA, contingent upon board approval. According to the financing agreement, N&G has committed to subscribe for convertible notes with a nominal value of up to SEK216 million (US$21.308 million), in tranches of initially SEK3 million per month for the first six months and thereafter, depending on market conditions, with the possibility to increase to SEK6 million per month. The financing will enable Moberg to conduct an additional clinical study of MOB-015.

Novan Inc., of Morrisville, N.C., entered definitive agreements with several institutional and accredited investors for the issuance and sale of about 18.6 million shares of its common stock (or pre-funded warrants) at an effective purchase price of 43 cents per share in a registered direct offering priced at-the-market. Gross proceeds are expected to be approximately $8 million. H.C. Wainwright & Co. is acting as the exclusive placement agent. The company intends to use the proceeds to fund its research and development programs and for general working capital purposes.

Promis Neurosciences Inc., of Toronto, said it received approval from the Toronto Stock Exchange to amend the exercise price of an aggregate of 44.1 million outstanding common share purchase warrants that were previously issued between 2017 and 2019, which will expire five years from the original date of issuance. The exercise price of the warrants is being repriced to CA13 cents (US9 cents) per share, effective April 8, 2020, until May 22, 2020, after which the warrants will revert to the original exercise price.

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