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NephroGenex slides 8.8% postmarket after pricing offering

Jul. 16, 2015 7:04 PM ETNephroGenex, Inc. (NRXGQ) StockBy: Jason Aycock, SA News Editor
  • NephroGenex (NRX) is down 8.8% after hours, following on a day where it lost 8.7% in market-day trading, after pricing an offering of 1.5M shares of common stock, and warrants to purchase 1.5M shares of common stock, at $5 per share and warrant.
  • The stock closed today at $5.70, down from Wednesday's $6.24; after hours it's quoted at $5.20.
  • The warrants will have an exercise price of $6.25/share and are exercisable immediately. Underwriters have a 45-day option to buy up to 225K more shares and/or warrants for overallotment.
  • The pharma firm expects gross proceeds of $7.5M, to be used for general purposes. The offering should close next Wednesday.

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