Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ed091573-ea25-459f-a8ff-5827a2d68e66
Date 6/25/2015
Company Name BioPharmX
Mailing Address 1098 Hamilton Court Menlo Park, CA 94025 USA
Company Description BioPharmX, Inc. (NYSE: BPMX) provides innovative drug-delivery products through its unique, patented platform technologies for pharmaceutical and OTC applications.
Proceeds Purposes As of April 30, 2015, we had cash of $0.5 million. We currently intend to use the net proceeds we receive from this offering and the KIP private placement, together with our existing cash, as follows: approximately $4.0 million for research and development expenses associated with the development of our product candidates and research and development pipeline; approximately $3.0 million for marketing and advertising expense to build awareness and sell through volume at drug stores and supplement stores for VI2OLET; and the balance to be used primarily to fund working capital, capital expenditures and other general corporate purposes, including strategic hires.