RESEARCH TRIANGLE PARK, N.C., Feb. 14, 2014 (GLOBE NEWSWIRE) -- NephroGenex, Inc. (Nasdaq:NRX), a pharmaceutical company focused on the development of therapeutics to treat kidney disease, today announced the closing of its initial public offering of 3,100,000 shares of common stock at a public offering price of $12.00 per share for total gross proceeds of $37,200,000 before underwriting discounts. In addition, NephroGenex has granted the underwriter a 45-day option to purchase up to an additional 465,000 shares of common stock from NephroGenex to cover over-allotments, if any.
The Company's stock is listed on The NASDAQ Capital Market under the trading symbol "NRX."
Aegis Capital Corp. acted 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 was made only by means of a prospectus. A copy of the final prospectus dated as of February 11, 2014 relating to these securities was 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.
Cautionary Note on Forward-Looking Statements
This press release includes forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Applicable risks and uncertainties include those identified under the heading "Risk Factors" included in the prospectus related to the initial public offering, and in other filings that NephroGenex may make with the SEC in the future. The forward-looking statements contained in this press release reflect NephroGenex's current views with respect to future events, and NephroGenex does not undertake and specifically disclaims any obligation to update any forward-looking statements.