PLXP PLx Pharma Inc.

9.56
+0.56  (+6%)
Previous Close 9
Open 10.01
52 Week Low 2.28
52 Week High 10.4
Market Cap $218,315,343
Shares 22,836,333
Float 21,140,249
Enterprise Value $183,700,611
Volume 325,635
Av. Daily Volume 371,275
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Drug Pipeline

Drug Stage Notes
VAZALORE 325 mg and 81 mg doses
Liquid-filled aspirin capsule
Approved
Approved
FDA approval announced March 1, 2021.
Locilex
Mild infections of diabetic foot ulcers
Phase 3
Phase 3
Phase 3 top-line data did not meet endpoints - October 25, 2016.

Latest News

  1. -- Received FDA approval of sNDAs for both VAZALORE 325 mg and 81 mg, the first-ever novel, liquid-filled aspirin capsule --

    -- U.S. commercial launch of VAZALORE planned for third quarter 2021 --

    -- Secured $63 million of gross proceeds in an underwritten public offering of common stock for the launch of VAZALORE --

    SPARTA, N.J., March 12, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products, with its lead products VAZALORE™ 325 mg and VAZALORE™ 81 mg (referred to together as "VAZALORE"), announced today certain…

    -- Received FDA approval of sNDAs for both VAZALORE 325 mg and 81 mg, the first-ever novel, liquid-filled aspirin capsule --

    -- U.S. commercial launch of VAZALORE planned for third quarter 2021 --

    -- Secured $63 million of gross proceeds in an underwritten public offering of common stock for the launch of VAZALORE --

    SPARTA, N.J., March 12, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products, with its lead products VAZALORE™ 325 mg and VAZALORE™ 81 mg (referred to together as "VAZALORE"), announced today certain financial and operational results for the three months and full year ended December 31, 2020.

    Highlights of, and certain events subsequent to, the fourth quarter of 2020 include:

    • Received U.S. Food and Drug Administration ("FDA") approval of its supplemental new drug applications ("sNDAs") for its lead products, VAZALORE 325 mg and VAZALORE 81 mg, the first-ever liquid-filled aspirin capsules;
    • Completed a $63 million financing of 7,875,000 shares of common stock, offered at a price of $8.00 for the launch of VAZALORE;
    • Entered into an $18 million private placement in November 2020; and



    • VAZALORE commercial launch planned for the third quarter 2021.

    "We are delighted to receive FDA approval of the sNDAs for both dose strengths and are excited to launch this breakthrough product to the medical community and to patients who can benefit from a reliable and predictable antiplatelet therapy," stated Natasha Giordano, President and Chief Executive Officer of PLx.

    "The successful $63 million financing provides the capital needed to commercialize VAZALORE. Our experienced leadership team is well prepared to execute our strategy, and this funding will enable us to launch the product successfully," concluded Giordano.

    Public Offering

    On March 5, 2021, the Company completed an underwritten public offering in which PLx issued and sold 7,875,000 shares of its common stock at a price to the public of $8.00 per share. The gross proceeds to the Company from this offering were $63 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

    Fourth Quarter 2020 Financial Results

    The Company recognized no revenue for the fourth quarter of 2020 compared to $24,000 for the fourth quarter of 2019. All the revenue recognized in 2019 was attributable to work performed under an award of a National Institutes of Health ("NIH") grant, which came to an end in the second quarter of 2020.

    Research and development expenses were $1.2 million for the fourth quarter of 2020, compared to $0.9 million in the fourth quarter of 2019. This increase reflected the expiration of raw materials combined with higher regulatory costs supporting the filing of the supplemental new drug applications in October 2020.

    General and administrative expense totaled $2.5 million in the fourth quarter of 2020 compared to $2.8 million in the fourth quarter of 2019. This decrease was due to lower pre-launch marketing costs combined with lower conference and related travel costs due to COVID-19 restrictions.

    Other (expense) income totaled $4.3 million of other expense and $1.8 million of net other income in the three months ended December 31, 2020 and 2019, respectively. The decrease was largely attributable to the non-cash change in fair value of warrant liability primarily due to the fluctuation of the price of the Company's common stock, combined with lower net interest expense, which was impacted by a lower principal debt balance and lower interest rates.

    Net loss attributable to common stockholders for the fourth quarter of 2020 was $8.5 million, or ($0.87) per basic and diluted share, compared to net loss of $2.3 million, or ($0.25) per share, for the fourth quarter of 2019. The fourth quarter of 2020 included a non-cash loss of $4.2 million, or ($0.44) per share, related to the change in fair value of warrant liability and $0.5 million, or ($0.05) per share, of Series A and Series B convertible preferred stock dividends. The fourth quarter of 2019 included a non-cash gain of $1.9 million, or $0.20 per share, related to the change in the warrant liability and $0.3 million, or ($0.03) per share, for preferred stock dividends related to the Series A convertible preferred stock.

    Full Year 2020 Financial Results

    For the year ended December 31, 2020, total revenues were $0.03 million, compared with $0.6 million for the prior year. All the revenue recognized in 2020 and 2019 was attributable to work performed under a federal grant from the NIH, which came to an end in the second quarter of 2020.

    Research and development expenses totaled $4.3 million for the year ended December 31, 2020, compared to $4.7 million in the prior year, reflecting continued product development and manufacturing activities for VAZALORE. This decrease was due to 2020 activities, which included the bioequivalence study to provide data for the sNDA filing, stability and validation work, compared to manufacture, packaging, stability, and analytical costs related to the registration batches in 2019.

    General and administrative expenses totaled $9.2 million for the year ended December 31, 2020, compared to $10.0 million in the prior year. The decrease was due to lower compensation-related expenses combined with savings from COVID-19 restrictions on conference and travel costs.

    Other (expense) income totaled $1.8 million of other expense for the year ended December 31, 2020, compared to $6.3 million of other expense in the prior year. The change is primarily attributable to the non-cash change in fair value of warrant liability primarily due to the fluctuation of the price of the Company's common stock, combined with lower net interest expense due to lower interest rates and lower principal debt balance.

    Net loss attributable to common stockholders for the year ended December 31, 2020 was $16.9 million or ($1.74) per basic and diluted share compared to net loss of $34.3 million, or ($3.84) per share for the prior year. Full year 2020 included non-cash expense of $1.4 million, or ($0.15) per share, as a result of a change in the fair value of the warrant liability and $1.7 million, or ($0.18) per share, of Series A and Series B convertible preferred stock dividends.   Full year 2019 included $13.7 million or ($1.54) per share, for the beneficial conversion feature and preferred stock dividends related to the $15 million Series A convertible preferred stock financing completed in February 2019. Full year 2019 also included a non-cash expense of $5.7 million, or ($0.64) per share as a result of a change in the fair value of the warrant liability.

    On November 16, 2020, the Company entered into a securities purchase agreement for the sale of units comprised of shares of common stock and a warrant to purchase shares of common stock in a private placement that resulted in gross proceeds to the Company of approximately $18 million, before deducting placement agent and other offering expenses, for the issuance of 4,755,373 shares of common stock and warrants to purchase up to an additional 5,230,910 shares of common stock for a per unit price of $3.787. The private placement closed on November 18, 2020. The warrants become exercisable on the date of issuance, have an exercise price of $4.31 per share and will expire five years from the date of issuance.

    As of December 31, 2020, the Company had cash and cash equivalents of $22.4 million.

    Conference Call

    As previously announced, PLx management will host its fourth quarter 2020 conference call as follows:

    Date:Friday, March 12, 2021
    Time:8:30 a.m. ET
    Toll free (U.S.):(866) 394-2901
    International:(616) 548-5567
    Webcast (live and replay):www.plxpharma.com under the ‘Investor Relations' section.

    The archived webcast will be available for 30 days via the aforementioned URL.

    About VAZALORE

    VAZALORE is an FDA-approved liquid-filled aspirin capsule that provides patients with vascular disease and diabetic patients who are candidates for aspirin therapy based on physician recommendation, with fast, reliable and predictable platelet inhibition as compared to enteric-coated aspirin. It also reduces the risk of stomach erosions and ulcers, as compared to immediate-release aspirin, common in an acute setting.

    About PLx Pharma Inc. 

    PLx Pharma Inc. is a specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products. The PLxGuard drug delivery platform works by targeting the release of active pharmaceutical ingredients to various portions of the gastrointestinal (GI) tract. PLx believes this platform has the potential to improve the absorption of many drugs currently on the market or in development, and to reduce the risk of stomach erosions and ulcers associated with certain drugs.

    To learn more about PLx Pharma Inc. and its pipeline, please visit www.plxpharma.com.

    Forward-Looking Statements

    Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the prospects for commercializing or selling any products or drug candidates, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to PLx may identify forward-looking statements. PLx cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by PLx to secure and maintain relationships with collaborators; risks relating to clinical trials; risks relating to the commercialization, if any, of PLx's proposed product candidates (such as marketing, regulatory, product liability, supply, competition, and other risks); dependence on the efforts of third parties; dependence on intellectual property, risks that PLx may lack the financial resources and access to capital to fund proposed operations. Further information on the factors and risks that could affect PLx's business, financial conditions and results of operations are contained in PLx's filings with the U.S. Securities and Exchange Commission ("SEC"), which are available at www.sec.gov. Other risks and uncertainties are more fully described in PLx's Form 10-K for the year ended December 31, 2020 filed with the SEC on March 12, 2021, and in other filings that PLx has made or will make going forward. The forward-looking statements represent PLx's estimate as of the date hereof only, and PLx specifically disclaims any duty or obligation to update forward-looking statements.

    Contact

    Investor Relations:

    Lisa M. Wilson, In-Site Communications, Inc.

    T: 212-452-2793

    E:

    Source: PLx Pharma Inc.

    FINANCIAL TABLES FOLLOW

    PLx Pharma Inc. 
    CONSOLIDATED BALANCE SHEETS 
         
     December 31,

    2020
     December 31,

    2019
     
    ASSETS    
    CURRENT ASSETS    
    Cash and cash equivalents $22,448,651  $14,001,304  
    Accounts receivable -   18,683  
    Inventory, net 143,380   -  
    Prepaid expenses and other current assets 393,470   263,268  
    TOTAL CURRENT ASSETS    
    NON-CURRENT ASSETS    
    Property and equipment, net  1,225,879   1,466,646  
    Right of use assets  327,161   618,158  
    Goodwill  2,061,022   2,061,022  
    Security deposit 17,036   73,665  
    TOTAL ASSETS$26,616,599  $18,502,746  
         
    LIABILITIES, SERIES A AND SERIES B CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT)    
    CURRENT LIABILITIES    
    Accounts payable and accrued liabilities$862,568  $928,921  
    Accrued bonuses 1,184,823   1,166,821  
    Accrued interest 597,411   34,964  
    Current portion of term loan, net of discount and fees 622,265   3,658,121  
    Other current liabilities 275,247   304,603  
    TOTAL CURRENT LIABILITIES 3,542,314   6,093,430  
    NON-CURRENT LIABILITIES    
    Accrued interest, net of current portion -   501,826  
    Term loan, net of discount, fees and current portion -   622,265  
    Warrant liability 9,691,271   8,247,679  
    Accrued dividends 2,795,795   1,058,498  
    Other liabilities 134,184   409,431  
    TOTAL LIABILITIES 16,163,564   16,933,129  
         
    Series A convertible preferred stock: $0.001 par value; liquidation value of $17,385,970; 45,000 shares authorized, 15,000 issued and outstanding 13,661,578   13,661,578  
    Series B convertible preferred stock: $0.001 par value; liquidation value of $8,409,825; 25,000 shares authorized, 8,000 and 0 issued and outstanding 7,723,312   -  
         
    STOCKHOLDERS' EQUITY (DEFICIT)    
    Preferred stock; $0.001 par value; 930,000 shares authorized; none issued and outstanding -   -  
    Common stock; $0.001 par value; 100,000,000 shares authorized; 13,911,633 and 9,156,260 shares issued and outstanding 13,912   9,156  
    Additional paid-in capital 91,203,050   74,837,046  
    Accumulated deficit (102,148,817)  (86,938,163) 
    TOTAL STOCKHOLDERS' EQUITY (DEFICIT) (10,931,855)  (12,091,961) 
    TOTAL LIABILITIES, SERIES A AND SERIES B CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT)$26,616,599  $18,502,746  
         



    PLx Pharma Inc. 
    CONSOLIDATED STATEMENTS OF OPERATIONS
          
     Three Months Ended December 31, Year Ended December 31,
      2020   2019   2020   2019 
    REVENUES:       
    Federal grant$-  $23,893  $30,430  $565,464 
    TOTAL REVENUES -   23,893   30,430   565,464 
            
    OPERATING EXPENSES:       
    Research and development  1,222,877   935,513   4,338,974   4,741,130 
    General and administrative  2,469,116   2,845,953   9,150,568   10,026,627 
    TOTAL OPERATING EXPENSES  3,691,993   3,781,466   13,489,542   14,767,757 
    OPERATING LOSS  (3,691,993)  (3,757,573)  (13,459,112)  (14,202,293)
            
    OTHER (EXPENSE) INCOME:       
    Interest and other expense, net  (40,737)  (113,656)  (307,950)  (589,740)
    Change in fair value of warrant liability  (4,248,554)  1,871,159   (1,443,592)  (5,710,362)
    TOTAL OTHER (EXPENSE) INCOME (4,289,291)  1,757,503   (1,751,542)  (6,300,102)
    LOSS BEFORE INCOME TAXES  (7,981,284)  (2,000,070)  (15,210,654)  (20,502,395)
    Income taxes -   -   -   - 
    NET LOSS  (7,981,284)  (2,000,070)  (15,210,654)  (20,502,395)
            
    Deemed dividends -   -   -   (12,692,308)
    Preferred dividends  (509,875)  (317,409)  (1,737,297)  (1,058,498)


    NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS 
    $(8,491,159) $(2,317,479) $(16,947,951) $(34,253,201)
            
    Net loss per common share - basic and diluted $(0.87) $(0.25) $(1.74) $(3.84)
            
    Weighted average shares of common shares - basic and diluted 9,714,951   9,129,854   9,714,951   8,916,190 
            



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  2. SPARTA, N.J., March 11, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products, with its lead products VAZALORE™ 325 mg and VAZALORE™ 81 mg (referred to together as "VAZALORE"), announced today that Natasha Giordano, President and Chief Executive Officer, and Rita O'Connor, Chief Financial Officer, will present at the Oppenheimer 31st Annual Healthcare Conference as follows:

      
    Date:Wednesday, March 17, 2021
      
    Time:2:30PM Eastern Time
      
    Webcast Link:https://wsw.com/webcast/oppenheimer9/plxp/2764916
      

    The presentation will be webcast live at the aforementioned…

    SPARTA, N.J., March 11, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products, with its lead products VAZALORE™ 325 mg and VAZALORE™ 81 mg (referred to together as "VAZALORE"), announced today that Natasha Giordano, President and Chief Executive Officer, and Rita O'Connor, Chief Financial Officer, will present at the Oppenheimer 31st Annual Healthcare Conference as follows:

      
    Date:Wednesday, March 17, 2021
      
    Time:2:30PM Eastern Time
      
    Webcast Link:https://wsw.com/webcast/oppenheimer9/plxp/2764916
      

    The presentation will be webcast live at the aforementioned time, and archived for 30 days thereafter, via the Company's website at www.plxpharma.com, under the ‘Investors Relations' Section.

    About VAZALORE

    VAZALORE is an FDA-approved liquid-filled aspirin capsule that provides patients with vascular disease and diabetic patients who are candidates for aspirin therapy based on physician recommendation, with fast, reliable and predictable platelet inhibition as compared to enteric-coated aspirin. It also reduces the risk of stomach erosions and ulcers, as compared to immediate-release aspirin, common in an acute setting.

    About PLx Pharma Inc.

    PLx Pharma Inc. is a specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products. The PLxGuard drug delivery platform works by targeting the release of active pharmaceutical ingredients to various portions of the gastrointestinal (GI) tract. PLx believes this platform has the potential to improve the absorption of many drugs currently on the market or in development, and to reduce the risk of stomach erosions and ulcers associated with certain drugs.

    To learn more about PLx Pharma Inc. and its pipeline, please visit www.plxpharma.com.

    Contact

    Investor Relations:

    Lisa M. Wilson, In-Site Communications, Inc.

    T: 212-452-2793

    E:



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  3. SPARTA, N.J., March 04, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform designed to provide more effective and safer products, announced today that the Company will release its 2020 fourth quarter financial results on Friday, March 12, 2021, before the U.S. financial markets open.

    Natasha Giordano, President and Chief Executive Officer, and Rita O'Connor, Chief Financial Officer, will host a conference call to discuss the results and provide a business update as follows:

    DateFriday, March 12, 2021
    Time8:30 a.m. ET
    Toll free (U.S.)(866) 394-2901
    International
    Conference ID
    (616)

    SPARTA, N.J., March 04, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform designed to provide more effective and safer products, announced today that the Company will release its 2020 fourth quarter financial results on Friday, March 12, 2021, before the U.S. financial markets open.

    Natasha Giordano, President and Chief Executive Officer, and Rita O'Connor, Chief Financial Officer, will host a conference call to discuss the results and provide a business update as follows:

    DateFriday, March 12, 2021
    Time8:30 a.m. ET
    Toll free (U.S.)(866) 394-2901
    International

    Conference ID
    (616) 548-5567

    7293573
    Webcast (live and replay)www.plxpharma.com under the ‘Investor Relations' section.
      

    A replay of the conference call will be available for two weeks after the call's completion by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (International). The conference ID for the replay is 7293573. The archived webcast will be available for 30 days via the aforementioned URL.

    About VAZALORE

    VAZALORE is an FDA-approved liquid-filled aspirin capsule that provides patients with vascular disease and diabetic patients who are candidates for aspirin therapy based on physician recommendation, with fast, reliable and predictable platelet inhibition as compared to enteric-coated aspirin. It also reduces the risk of stomach erosions and ulcers, as compared to immediate-release aspirin, common in an acute setting.

    About PLx Pharma Inc. 

    PLx Pharma Inc. is a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products. The PLxGuard drug delivery platform works by targeting the release of active pharmaceutical ingredients to various portions of the gastrointestinal (GI) tract. PLx believes this platform has the potential to improve the absorption of many drugs currently on the market or in development, and to reduce the risk of stomach erosions and ulcers associated with certain drugs.

    To learn more about PLx Pharma Inc. and its pipeline, please visit www.plxpharma.com.

    Contact

    Investor Relations:

    Lisa M. Wilson, In-Site Communications, Inc.

    T: 212-452-2793

    E:

    Source: PLx Pharma Inc.



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  4. SPARTA, N.J., March 03, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform designed to provide more effective and safer products, today announced the pricing of an underwritten public offering of 7,875,000 shares of its common stock, offered at a price of $8.00 to the public. Additionally, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,181,250 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the offering are being offered by the Company. The offering is expected to…

    SPARTA, N.J., March 03, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform designed to provide more effective and safer products, today announced the pricing of an underwritten public offering of 7,875,000 shares of its common stock, offered at a price of $8.00 to the public. Additionally, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,181,250 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the offering are being offered by the Company. The offering is expected to close on or about March 5, 2021, subject to customary closing conditions. The gross proceeds to the Company from this offering are expected to be approximately $63 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. This amount assumes no exercise of the underwriters' option.

    The Company intends to use the net proceeds from this offering for general corporate purposes. General corporate purposes may include additions to working capital and capital expenditures.

    Raymond James & Associates, Inc. and Oppenheimer & Co. Inc. are acting as joint book-running managers for the offering.

    This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-230478) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on April 4, 2019. A preliminary prospectus supplement relating to the offering was filed with the SEC on March 2, 2021 and is available on the SEC's website at www.sec.gov. The final prospectus supplement relating to the offering will be filed with the SEC and will also be available on the SEC's web site at www.sec.gov.  Before investing in the offering, you should read the prospectus supplement and the accompanying prospectus in their entirety as well as the other documents that the Company has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus, which provide more information about the Company and the offering. Copies of the final prospectus supplement and accompanying prospectus , when available, may also be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at (800) 248-8863 or by e-mail at ; or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY, 10004, by telephone at (212) 667-8055, or by email at .

    This press release shall not constitute an offer to sell or the 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 PLx Pharma Inc.

    PLx Pharma Inc. is a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products. The PLxGuard drug delivery platform works by targeting the release of active pharmaceutical ingredients to various portions of the gastrointestinal (GI) tract. PLx believes this platform has the potential to improve the absorption of many drugs currently on the market or in development, and to reduce the risk of stomach erosions and ulcers associated with certain drugs.

    To learn more about PLx Pharma Inc. and its pipeline, please visit www.plxpharma.com.

    Forward-Looking Statements

    Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the prospects for commercializing or selling any products or drug candidates are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to PLx may identify forward-looking statements. PLx cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by PLx to secure and maintain relationships with collaborators; risks relating to clinical trials; risks relating to the commercialization, if any, of PLx's proposed product candidates (such as marketing, regulatory, product liability, supply, competition, and other risks); dependence on the efforts of third parties; dependence on intellectual property, risks that PLx may lack the financial resources and access to capital to fund proposed operations. Further information on the factors and risks that could affect PLx's business, financial conditions and results of operations are contained in PLx's filings with the U.S. Securities and Exchange Commission ("SEC"), which are available at www.sec.gov. Other risks and uncertainties are more fully described in PLx's Form 10-K for the year ended December 31, 2019 filed with the SEC on March 13, 2020, and in other filings that PLx has made or will make going forward. The forward-looking statements represent PLx's estimate as of the date hereof only, and PLx specifically disclaims any duty or obligation to update forward-looking statements.

    Contact

    Investor Relations:

    Lisa M. Wilson, In-Site Communications, Inc.

    T: 212-452-2793

    E:

    Source: PLx Pharma Inc.



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  5. SPARTA, N.J., March 02, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform designed to provide more effective and safer products, announced today that it intends to offer shares of its common stock for sale in an underwritten public offering. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. The offering is subject to market conditions and there can be no assurance as to whether or when…

    SPARTA, N.J., March 02, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ:PLXP) ("PLx" or the "Company"), a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform designed to provide more effective and safer products, announced today that it intends to offer shares of its common stock for sale in an underwritten public offering. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering at the public offering price, less underwriting discounts and commissions. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares in the proposed offering are to be sold by PLx.

    PLx intends to use the net proceeds from this offering for general corporate purposes. General corporate purposes may include additions to working capital and capital expenditures.

    Raymond James & Associates, Inc. and Oppenheimer & Co. Inc. are acting as the joint book-running managers for the public offering.

    This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-230478) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on April 4, 2019. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. When available, copies of the preliminary prospectus supplement and accompanying prospectus may also be obtained from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at (800) 248-8863 or by e-mail at ; or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY, 10004, by telephone at (212) 667-8055, or by email at .

    Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

    This press release shall not constitute an offer to sell or the 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 PLx Pharma Inc.

    PLx Pharma Inc. is a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products. The PLxGuard drug delivery platform works by targeting the release of active pharmaceutical ingredients to various portions of the gastrointestinal (GI) tract. PLx believes this platform has the potential to improve the absorption of many drugs currently on the market or in development, and to reduce the risk of stomach erosions and ulcers associated with certain drugs.

    To learn more about PLx Pharma Inc. and its pipeline, please visit www.plxpharma.com.

    Forward-Looking Statements

    Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the prospects for commercializing or selling any products or drug candidates are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words "may," "could," "should," "anticipate," "believe," "estimate," "expect," "intend," "plan," "predict" and similar expressions and their variants, as they relate to PLx may identify forward-looking statements. PLx cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by PLx to secure and maintain relationships with collaborators; risks relating to clinical trials; risks relating to the commercialization, if any, of PLx's proposed product candidates (such as marketing, regulatory, product liability, supply, competition, and other risks); dependence on the efforts of third parties; dependence on intellectual property, risks that PLx may lack the financial resources and access to capital to fund proposed operations. Further information on the factors and risks that could affect PLx's business, financial conditions and results of operations are contained in PLx's filings with the U.S. Securities and Exchange Commission ("SEC"), which are available at www.sec.gov. Other risks and uncertainties are more fully described in PLx's Form 10-K for the year ended December 31, 2019 filed with the SEC on March 13, 2020, and in other filings that PLx has made or will make going forward. The forward-looking statements represent PLx's estimate as of the date hereof only, and PLx specifically disclaims any duty or obligation to update forward-looking statements.

    Contact

    Investor Relations:

    Lisa M. Wilson, In-Site Communications, Inc.

    T: 212-452-2793

    E:

    Source: PLx Pharma Inc.



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