Imprimis Pharmaceuticals, Inc. (IMMY) is a specialty pharmaceutical company focused on the commercial development of compounded drug formulations. Through an exclusive strategic relationship with the largest compounding pharmacy organization in North America, Imprimis expects to use its proprietary Accudel drug delivery technology, coupled with licensed technologies, and proprietary formulations and market data, to identify pharmaceutical development opportunities where there is a significant unmet need for a new drug product. Imprimis is also internally developing non-invasive, topically delivered products.
IMMY announced the pricing of an underwritten public offering of 1,840,000 shares of its common stock at a price to the public of $5.25 per share, for gross proceeds of approximately $9.66 million. The net proceeds from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $8.13 million. Subject to customary conditions, Imprimis expects to close the sale of its common stock on or about February 13, 2013.
Imprimis completed a 1-for-5 reverse stock split on February 7, 2013 & its common shares traded on The NASDAQ Capital Market under the ticker symbol IMMY.