Key Developments: Venaxis Inc (APPY.W)
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17 Jun 2013
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Latest Key Developments (Source: Significant Developments)
Venaxis Inc Closes Underwritten Public Offering, Including Full Over-Allotment
Venaxis Inc announced the closing of its previously announced underwritten public offering. The underwriter fully exercised its option to purchase additional shares of common stock and related warrants to cover over-allotments, resulting in the sale of 11,500,000 shares of common stock and related warrants to purchase up to 4,025,000 shares of common stock, at an exercise price of $1.36 per share, at a combined public offering price of $1.25 per share and related warrant. The gross proceeds to Venaxis from this offering were approximately $14.4 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Venaxis and excluding the proceeds, if any, from the exercise of warrants. Piper Jaffray & Co. acted as sole manager for the offering. Venaxis anticipates using the net proceeds from the offering for working capital and other general corporate purposes, including funding for further clinical development, seeking FDA clearance for APPY1, and for initial commercialization of APPY1 in the U.S. and the E.U. Full Article
Venaxis Inc Announces Pricing Of Offering Of Common Stock And Warrants
Venaxis Inc announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock and related warrants to purchase 3,500,000 shares of its common stock at an exercise price of $1.36 per share at a combined public offering price of $1.25 per share and related warrant. Venaxis has also granted the underwriter a 30-day option to purchase up to an additional 1,500,000 shares and related warrants to purchase up to an additional 525,000 shares of common stock to cover over-allotments, if any. The shares of common stock and warrants are immediately separable and will be issued separately in the offering. The offering is expected to close on May 30, 2013, subject to customary closing conditions. All of the shares and warrants in the offering are being sold by Venaxis. Venaxis expects to receive net proceeds from the offering of approximately $11.1 million, after deducting estimated underwriting discounts and commissions and offering expenses. Venaxis intends to use the net proceeds from the offering primarily for general corporate purposes, including funding for further clinical development, seeking FDA clearance for APPY1, and for initial commercialization of APPY1 in the U.S. and the E.U. Piper Jaffray & Co. is acting as sole manager for the offering. Full Article
Venaxis Inc Receives Purchase Order From EMELCA Bioscience
Venaxis Inc announced that it has signed first European commercial development agreement with Netherlands-based EMELCA Bioscience for the initial phase of Venaxis' EU launch. Under the agreement, EMELCA will help Venaxis identify and engage with key opinion leaders and potential customers, as well as assess key market opportunities for APPY1 within the Benelux Territories, which includes Belgium, the Netherlands, and Luxembourg. Pursuant to the agreement, Venaxis also received an initial stocking order from EMELCA, marking the first purchase order for APPY1. Full Article
Venaxis Inc Files For CE Mark Approval
Venaxis Inc announced that it has filed for CE Mark approval in Europe for APPY1, the Company's blood-based appendicitis test. Based upon the standard protocol for submission of technical file for APPY1 through the Company's authorized representative, Venaxis expects to obtain CE Mark under the European Economic Area by the end of the year. Full Article
AspenBio Pharma Inc Changes Company Name To Venaxis, Inc.
Venaxis, Inc., formerly AspenBio Pharma Inc announced it has changed its corporate name after receiving approval from its shareholders at a Special Meeting of Shareholders held on December 11, 2012. The Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol APPY. As part of its rebranding process Venaxis has also changed the name of the Company's blood-based appendicitis diagnostic test in development to APPY1. Full Article
Venaxis, Inc. Announces Full Exercise Of Underwriter's Over-Allotment Option
Venaxis, Inc announced the full exercise of the over-allotment option granted to the underwriters to purchase an additional 291,900 shares of common stock, at a public offering price of $2.10 per share in connection with its previously announced underwritten public offering of 1,946,000 shares of common stock, bringing total gross proceeds from the offering to approximately $4.7 million. Aegis Capital Corp. acted as the sole book-running manager for this offering. Full Article
AspenBio Pharma Inc Announces Closing Of Public Offering Of 1,946,000 Shares Of Common Stock
AspenBio Pharma Inc announced the closing of an underwritten public offering of 1,946,000 shares of common stock at an offering price of $2.10 per share. After underwriting discounts and commissions and estimated offering expenses, the Company received net proceeds from the offering of approximately $3.7 million. AspenBio Pharma has also granted the underwriters a 45-day option to purchase up to an additional 291,900 shares of common stock to cover over-allotments, if any. AspenBio intends to use the net proceeds from this offering for general corporate purposes, including conducting a clinical trial for its blood-based appendicitis test and for working capital purposes. Aegis Capital Corp. acted as the sole book-running manager for the offering. Full Article
AspenBio Pharma Inc Announces Pricing of Public Offering of 1,476,000 Shares of Common Stock
AspenBio Pharma Inc announced the pricing of its previously announced underwritten public offering. The Company is offering 1,476,000 shares of common stock at an offering price of $2.10 per share. The gross proceeds to AspenBio from this offering are expected to be approximately $3.1 million, prior to deducting underwriting discounts and commissions and other estimated offering expenses. AspenBio has also granted the underwriters a 45-day option to purchase up to an additional 221,400 shares of common stock to cover over-allotments, if any. The offering is expected to close on November 20, 2012, subject to customary closing conditions. All of the shares in the offering are to be sold by AspenBio. AspenBio intends to use the net proceeds from this offering for general corporate purposes, including conducting a clinical trial for its blood-based appendicitis test and for working capital purposes. Aegis Capital Corp. is acting as the sole book-running manager for the offering. Full Article
AspenBio Pharma Inc Announces Proposed Public Offering
AspenBio Pharma Inc announced that its intention, subject to market and other conditions, to commence a public offering of its common stock. AspenBio intends to use the net proceeds from this offering for general corporate purposes, including conducting a clinical trial for its blood-based appendicitis test and for working capital purposes. Aegis Capital Corp. is acting as the sole book-running manager for the offering. Full Article
AspenBio Pharma Inc Proposes Corporate Name Change To Venaxis, Inc
AspenBio Pharma Inc announced that it will ask shareholders to approve changing name to Venaxis, Inc. As announced recently during the Company's clinical and business update conference call, a name change is part of a strategic rebranding of the Company in line with its focus on its blood-based appendicitis test, which is designed to assist emergency room clinicians in ruling out acute appendicitis. Full Article
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