Bioxytran's $1.6M SPA: A Lifeline for Drug Development and Shareholder Value

Bioxytran, Inc. (OTCQB: BIXT), a clinical-stage biotechnology company focused on addressing hypoxia in humans, has secured a $1.6 million common stock purchase agreement (SPA) with TRITON FUNDS LP. This strategic investment will not only help the company extinguish a convertible note overhang but also fund regulatory pre-clinical and clinical trials, as well as working capital needs. The SPA comes at a critical juncture for Bioxytran, as it seeks to advance its drug development pipeline and enhance shareholder value.



The $1.6 million SPA with TRITON FUNDS LP has several strategic implications for Bioxytran:

1. Removing Convertible Note Overhang: By using a portion of the SPA proceeds to repurchase all convertible note overhang, Bioxytran eliminates a potential burden on its financials and provides clarity for investors. This move allows the market to better determine the true value of the company's shares through price discovery, as the risk of dilution from convertible note conversions is removed.
2. Funding Drug Development: The remaining funds from the SPA will be used to support regulatory pre-clinical and clinical trials for Bioxytran's lead drug candidates, ProLectin-Rx and BXT-25. ProLectin-Rx is a polysaccharide derived from pectin that targets galectin-1 for the treatment of mild to moderate cases of Covid-19, while BXT-25 is an oxygen-carrying small molecule for treating hypoxic conditions in the brain and wounds. This funding will enable Bioxytran to advance its drug development pipeline and potentially bring these therapies to market.
3. Testing Broad-Spectrum Antiviral Capability: The SPA funds will also allow Bioxytran to test various pandemic-potential viruses to demonstrate the broad-spectrum antiviral capability of its Galectin Antagonists. This aligns with the company's strategy to develop drugs that can treat a wide range of viral diseases, including those with pandemic potential.
4. Enhancing Shareholder Value: By addressing its immediate financial needs and advancing its drug development pipeline, Bioxytran can focus on its core competencies and position itself for long-term growth and success. This can ultimately lead to the commercialization of its products and an increase in shareholder value.

In conclusion, Bioxytran's $1.6 million SPA with TRITON FUNDS LP is a strategic move that addresses the company's immediate financial needs, advances its drug development pipeline, and enhances shareholder value. By removing the convertible note overhang, funding regulatory pre-clinical and clinical trials, and testing the broad-spectrum antiviral capability of its Galectin Antagonists, Bioxytran is well-positioned to capitalize on its core competencies and achieve long-term success.