Virios Therapeutics Announces Closing of $1.7 Million Public Offering of Common Stock to Commence Preparations for Planned IMC-2 Long-COVID Phase 2b Study
ATLANTA, May 22, 2024 (GLOBE NEWSWIRE) — Virios Therapeutics, Inc. (Nasdaq:VIRI) (the “Company” or “Virios Therapeutics”), a development-stage biotechnology company focused on advancing novel antiviral therapies to treat debilitating chronic diseases, including fibromyalgia (“FM”) and Long-COVID (“LC”), today announced the closing of its previously announced public offering of 8,500,000 shares of its common stock at a public offering price of $0.20 per share. Gross proceeds from the offering are $1.7 million before deducting placement agent fees and offering expenses. Virios Therapeutics intends to use the net proceeds of the offering to commence preparatory activities for its planned IMC-2 Long-COVID Phase 2b study and for general corporate purposes.