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Apricus Biosciences, Inc. (NASDAQ:APRI) Files An 8-K Other Events

Apricus Biosciences, Inc. (NASDAQ:APRI) Files An 8-K Other EventsItem 8.01

Other Events.
On April 26, 2017, Apricus Biosciences, Inc. (the “Company”) closed the previously announced underwritten public offering of an aggregate of 5,030,000 units, with each unit consisting of one share of Company common stock and one warrant to purchase 0.75 of a share of Company common stock, at a public offering price of $1.40 per unit for gross proceeds of approximately $7.0 million.
As a result of the offering, along with aggregate payments received to date from Ferring International Center S.A. of approximately $12.2 million (including a payment of $0.7 million for certain product inventory) to the previously announced asset sale, the Company believes its stockholders’ equity now exceeds the minimum $2.5 million stockholders’ equity requirement. The Company is awaiting confirmation from The NASDAQ Stock Market LLC that it has evidenced compliance with all applicable requirements for continued listing on The Nasdaq Capital Market.
Forward-Looking Statements
This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, as amended. Statements in this report that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things: whether the Company can demonstrate compliance with the Nasdaq’s continue listing rules, including with respect to the stockholders’ equity requirement. Actual results could differ from those projected in any forward-looking statements due to a variety of reasons that are outside of the Company’s control, including, but not limited to: the Panel failing to confirm the Company’s compliance with the continued listing requirements; and other risks identified by the Company in its reports filed with the Securities and Exchange Commission (“SEC”). These forward-looking statements are made as of the date of this report, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Readers are urged to read the risk factors set forth in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q, and other filings made with the SEC.
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About Apricus Biosciences, Inc. (NASDAQ:APRI)
Apricus Biosciences, Inc. is a pharmaceutical company, which develops pharmaceutical products. The Company primarily focuses on the development and commercialization of products and product candidates in the areas of urology and rheumatology. The Company’s drug delivery technology is a permeation enhancer called NexACT. The Company has over two product candidates in Phase II development, fispemifene for the treatment of symptomatic male secondary hypogonadism and RayVa for the treatment of Raynaud’s phenomenon, secondary to scleroderma. The Company has a commercial product, Vitaros for the treatment of erectile dysfunction (ED), which is in development in the United States, approved in Canada and marketed throughout Europe. Apricus Biosciences, Inc. (NASDAQ:APRI) Recent Trading Information
Apricus Biosciences, Inc. (NASDAQ:APRI) closed its last trading session down -0.03 at 1.13 with 3,735,573 shares trading hands.