BioPharmX announces closure of previously announced underwritten public offering of common stock

BioPharmX CorporationJul 1 2015

BioPharmX Corporation (NYSE MKT: BPMX) today announced the closing of its previously announced underwritten public offering of 3,636,364 shares of its common stock at a price to the public of $2.75 per share. BioPharmX has granted the underwriters a 30-day option to purchase up to 545,454 additional shares of common stock at the public offering price.

In addition, Korea Investment Partners Overseas Expansion Platform Fund, an existing stockholder, has agreed to purchase 1,081,081 shares of common stock from BioPharmX in a private placement in connection with the successful uplisting of the company's common stock to the NYSE MKT. This private placement is anticipated to close within 15 business days of the uplisting of the company's common stock to the NYSE MKT on June 25, 2015.

BioPharmX expects to use the net proceeds it receives from the offering and private placement for research and development associated with the development of the company's product candidates, and research and development pipeline, marketing and advertising for the company's Violet™ iodine product, working capital, capital expenditures, and other general corporate purposes, including strategic hires.

CRT Capital Group LLC acted as the sole book-running manager of the offering. Feltl and Company, Inc. and Newbridge Securities Corporation acted as co-managers for the offering.

A registration statement relating to these shares of common stock was declared effective by the Securities and Exchange Commission, or SEC. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities described herein, 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 the registration or qualification under the securities laws of any such state or jurisdiction.

This offering was made solely by means of a prospectus. A final prospectus related to the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus related to the offering may also be obtained from: CRT Capital Group LLC, c/o Kirk Crecco, 262 Harbor Drive, Stamford, CT 06902, or by telephone at (203) 548-8008.