Spherix Closes Registered Direct Offering Of $1.15 Million In Common Stock And Warrants

Spherix Incorporated [SPEX], headquartered in Bethesda, Maryland, is a scientific research company. The company now leverages its scientific and technical expertise and experience through its two subsidiaries—Biospherics Incorporated and Spherix Consulting, Inc.

An innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis, and provider of technical and regulatory consulting services , Spherix has entered into definitive agreements to sell $1.15 million of shares of its common stock and warrants to purchase shares of its common stock in a registered direct offering to institutional investors. Spherix will issue an aggregate of 1,064,815 shares of common stock to the institutional investors together with warrants to purchase an additional 212,963 shares of common stock.

As its primary goals, Spherix is seeking to successfully commercialize SPX-106T worldwide, D-Tagatose in the U.S. and other markets, to advance its pre-clinical pipeline, and to promote its consulting practice as the premier product regulatory approval and scientific advisory service. The company’s mission is to create and grow shareholder value through innovations that benefit its clients and the human condition.

Below, Claire Kruger, Ph.D., CEO and COO, and Robert Lodder, President of Spherix discuss the company’s business model and upcoming milestones in a candid interview with OneMedRadio. Spherix was a presenting company at OneMedForum SF2012.