PaxMedica (NASDAQ: PXMD), a biopharmaceutical company focused on advancing treatments for neurological disorders, today announced the pricing of its public offering of an aggregate of 5,384,615 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 5,384,615 shares of common stock, at a combined public offering price of $1.30 per share (or common stock equivalent in lieu thereof) and accompanying warrant. According to the announcement, the warrants will be exercisable immediately upon issuance, at an exercise price of $1.30 per share, and will expire five years after the initial exercise date. Subject to the satisfaction of customary conditions, the closing is expected to occur on or about Nov. 22, 2023. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
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About PaxMedica Inc.
PaxMedica is a forward-looking clinical-stage biopharmaceutical firm specializing in cutting-edge anti-purinergic drug therapies (“APT”) aimed at addressing a range of challenging neurologic disorders, including autism spectrum disorder (“ASD”) and human African trypanosomiasis (“HAT”). Its portfolio encompasses critical areas within the neurology field, with a focus on pioneering advancements in both ASD and HAT treatments. The company is dedicated to the continuous development and evaluation of its pioneering program, PAX-101-an intravenous suramin formulation that lies at the heart of its efforts, particularly focused on innovative ASD and HAT treatment solutions. PaxMedica’s ongoing research initiatives not only prioritize the needs of ASD and HAT patients but also extend to exploring potential therapeutic applications for related conditions. For more information about the company, visit www.PaxMedica.com.
NOTE TO INVESTORS: The latest news and updates relating to PXMD are available in the company’s newsroom at https://nnw.fm/PXMD
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