Small neu­rol­o­gy biotech an­nounces prices its $8M IPO; Vivos put on no­tice af­ter miss­ing fil­ing dead­line

Small biotech PaxMed­ica de­buted on the Nas­daq Fri­day.

Un­der the tick­er $PXMD, PaxMed­ica is of­fer­ing just over 1.5 mil­lion shares at a price of $5.25 a share for a to­tal raise of around $8.1 mil­lion. The un­der­writ­ers have an ad­di­tion­al 45 days to buy 231,000 more shares if they choose.

The of­fer­ing is ex­pect­ed to end on Au­gust 30.

The biotech said in an amend­ed SEC fil­ing ear­li­er in Au­gust that it is break­ing down pro­ceeds in a few ways: $2.5 mil­lion for “drug-sub­stance pro­cure­ment and sup­ply-chain ac­tiv­i­ties,” $2.5 mil­lion for R&D, $50,000 to re­pay out­stand­ing amounts and $2 mil­lion for work­ing cap­i­tal and gen­er­al pur­pos­es.

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