NephroGenex Prices $7,500,000 Public Offering

RALEIGH, N.C.--(BUSINESS WIRE)--NephroGenex, Inc. (Nasdaq:NRX), a pharmaceutical company focused on the development of therapeutics to treat kidney disease, today announced the pricing of an underwritten public offering of 1,500,000 shares of its common stock and warrants to purchase up to an aggregate of 1,500,000 shares of its common stock at a combined offering price of $5.00 per share and accompanying warrant. The warrants will have a per share exercise price of $6.25, are exercisable immediately and will expire five years from the date of issuance. The gross proceeds to NephroGenex from this offering are expected to be approximately $7,500,000, before deducting underwriting discounts and commissions and other estimated offering expenses. NephroGenex intends to use the net proceeds from the offering for working capital and general corporate purposes. NephroGenex has granted the underwriters a 45-day option to purchase up to an additional 225,000 shares of common stock and/or 225,000 additional warrants to cover over-allotments, if any. The offering is expected to close on July 22, 2015, subject to customary closing conditions.

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