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.
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