VimRx Pharmaceuticals Inc. announced last week that it hasfiled a registration statement with the Securities and ExchangeCommission for a public offering of 1,380 units(NASDAQ:VMRXU) at $5,000 per unit.
The Stamford, Conn, company could gross upward of $6.9million from sales of the units, which consist of an unspecifiednumber of shares of common stock (NASDAQ:VMRX) and anidentical number of class A warrants (NASDAQ:VMRXW). Theexact number will be determined immediately prior to theoffering.
The underwriter is D.H. Blair Investment Banking Corp.
VimRx is developing drugs based on hypericin, a naturalcompound derived from St. John's wort, to treat retroviral andviral diseases. The company reported in November thathypericin completely inactivates HIV when put into bloodcollected for transfusion.
VimRx last raised money publicly in January 1992, when itsold 1,200 units at $5,000 each. The company netted $5 millionfrom the offering.
The stock closed unchanged Thursday at $1.44 per share.
-- Jennifer Van Brunt Senior Editor
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