Attached files
Exhibit 99.2
AzurRx BioPharma Increases Previously Announced
Bought Deal to $5.0 Million
BOCA
RATON, Fla., July 22, 2021 (GLOBE NEWSWIRE) -- AzurRx BioPharma,
Inc. (NASDAQ: AZRX), (“AzurRx” or the
“Company”), a clinical stage biopharmaceutical company
specializing in the development of targeted, non-systemic therapies
for gastrointestinal (GI) diseases, announced today that, due
to demand, the underwriter has agreed to increase the size of the
previously announced public offering and purchase on a firm
commitment basis 9,090,910 shares of common stock of the Company,
at a price to the public of $0.55 per share, less underwriting
discounts and commissions. The closing of the offering is expected
to occur on or about July 27, 2021, subject to satisfaction of
customary closing conditions.
H.C.
Wainwright & Co. is acting as the sole book-running manager for
the offering.
The
Company has granted to the underwriter a 30-day option to purchase
up to an additional 1,363,636 shares of common stock at the public
offering price, less underwriting discounts and commissions. The
gross proceeds to AzurRx, before deducting underwriting discounts
and commissions and offering expenses and assuming no exercise of
the underwriter’s option to purchase additional common stock,
are expected to be approximately $5.0 million. The Company intends
to use the net proceeds from this offering for milestone payments
due under our license agreements and for other general corporate
purposes, which may include product manufacturing, clinical
development, acquisitions or investments in complementary
businesses, products or technologies, and/or increases in working
capital.
The
shares of common stock are being offered by the Company pursuant to
a “shelf” registration statement on Form S-3 (File No.
333-256476) previously filed with the Securities and Exchange
Commission (the “SEC”) on May 26, 2021, and declared
effective by the SEC on June 2, 2021. The offering of the shares of
common stock is being made only by means of a prospectus, including
a prospectus supplement, forming a part of the effective
registration statement. A preliminary prospectus supplement and
accompanying prospectus relating to, and describing the terms of,
the offering have been filed with the SEC and are available on the
SEC’s website at http://www.sec.gov. A final
prospectus supplement and the accompanying prospectus relating to
the offering will be filed with the SEC and, upon filing, may be
obtained on the SEC’s website at http://www.sec.gov or by
contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd
Floor, New York, NY 10022, by telephone at (212) 856-5711 or e-mail
at placements@hcwco.com.
This
press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About AzurRx BioPharma, Inc.
AzurRx
BioPharma, Inc. (NASDAQ: AZRX) is a clinical stage
biopharmaceutical company specializing in the development
of targeted, non-systemic therapies for gastrointestinal (GI)
diseases. The Company has a pipeline of three gut-restricted GI
assets. The lead therapeutic candidate is MS1819, a
recombinant lipase for the treatment of exocrine pancreatic
insufficiency (EPI) in patients with cystic fibrosis and chronic
pancreatitis, currently in two Phase 2 clinical trials. AzurRx
is launching two clinical programs in 2021 using proprietary
formulations of niclosamide, a pro-inflammatory pathway
inhibitor, FW-1022 for COVID-19 gastrointestinal infections,
and FW-420 for grade 1 Immune Checkpoint Inhibitor-Associated
Colitis and diarrhea in oncology patients. The Company is
headquartered in Boca Raton, Florida with clinical operations in
Hayward, California. For more information, visit www.azurrx.com.
Forward-Looking Statements
This press release may contain certain statements relating to
future results which are forward-looking statements. These
statements are not historical facts, but instead represent only the
Company’s belief regarding future events, many of which, by
their nature, are inherently uncertain and outside of the
Company’s control. These forward-looking statements are
subject to risks and uncertainties including, among other things,
the completion of the public offering, the satisfaction of
customary closing conditions related to the public offering and the
intended use of proceeds from the public offering. It is possible
that the Company’s actual results and financial condition may
differ, possibly materially, from the anticipated results and
financial condition indicated in these forward-looking statements,
depending on factors including risks and uncertainties related to
market conditions; whether results obtained in preclinical and
nonclinical studies and clinical trials will be indicative of
results obtained in future clinical trials; whether preliminary or
interim results from a clinical trial will be indicative of the
final results of the trial; the size of the potential markets for
the Company’s drug candidates and its ability to service
those markets; and the Company’s current and future capital
requirements and its ability to raise additional funds to satisfy
its capital needs. Additional information concerning the Company
and its business, including a discussion of factors that could
materially affect the Company’s financial results, including
those related to the clinical development of its clinical assets,
the results of its clinical trials, and the impact of the
coronavirus (COVID-19) pandemic on the Company’s operations
and current and planned clinical trials, including, but not limited
to delays in clinical trial recruitment and participation, are
contained in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2020 under the heading “Risk
Factors,” as well as the Company’s subsequent
filings with the Securities and Exchange Commission. All
forward-looking statements included in this press release are made
only as of the date of this press release, and we do not undertake
any obligation to publicly update or correct any forward-looking
statements to reflect events or circumstances that subsequently
occur or of which we hereafter become aware.
For more information:
AzurRx
BioPharma, Inc.
777
Yamato Road
Suite
502
Boca
Raton, Florida 33431
Phone:
(561) 589-7020
info@azurrx.com
Media contact:
Tiberend Strategic
Advisors, Inc.
Johanna
Bennett / Ingrid Mezo
(212)
375-2665 / (646) 604-5150
jbennett@tiberend.com / imezo@tiberend.com