VimRx Pharmaceuticals Inc. completed its public offering of1,350 units at $5,000 per unit, netting approximately $5.6million. Each unit consists of 3,475 shares of common stock(NASDAQ:VMRX) and the same number of class A warrants(NASDAQ:VMRXW).
Effective Jan. 20, the offering was managed by D. H. BlairInvestment Banking Corp. VimRx plans to gain an additional$840,000 from the exercise of overallotments, which consist of202 additional units.
VimRx of Stamford, Conn., now has 18.8 million sharesoutstanding and approximately $7.7 million in cash and cashequivalents. The company's burn rate is $2.5 million per year.
VimRx's stock closed unchanged on Wednesday at $1.31 pershare.VIMRX
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