PaxMedica Inc. (NASDAQ: PXMD) Closes Public Offering of Approximately $7 Million and Continues Pursuing ASD Pipeline
PaxMedica’s total gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, were approximately $7 million The company intends to use the proceeds to pay an outstanding promissory note, advance development programs, and general corporate purposes PaxMedica received constructive feedback from its type-B meeting with the FDA, which will aid in completing the remaining paperwork necessary to file a New Drug Application The company is currently working on commercial lots of PAX-101, which are expected during the first half of 2024, for the New Drug Application, which is expected to be filed during the second…