PLx Pharma Inc.: management transactions · United States · SEC (Form 4)

About PLx Pharma Inc.

PLx Pharma Inc. is a U.S.-based specialty pharmaceutical company that was publicly traded on the NASDAQ Capital Market under the ticker PLXP, before its later bankruptcy-related trading status changed. The company’s core positioning has centered on differentiated drug-delivery formulations, particularly non-steroidal anti-inflammatory drug products and, more broadly, technologies designed to improve gastrointestinal tolerability and drug absorption. In its corporate materials, PLx Pharma highlights its patent-protected PLxGuard™ platform, which is intended to direct active ingredients to specific portions of the GI tract and potentially reduce stomach irritation associated with certain medications. ([plxpharma.com](https://plxpharma.com/about-us/)) PLx Pharma’s origins go back to 2002. SEC disclosures show that the business began in Texas as ZT MediTech, Inc., then became GrassRoots Pharmaceuticals, Inc., and subsequently PLx Pharma Inc. The company later converted into a Texas LLC, reincorporated as a Delaware corporation in 2015, and then underwent a reverse-merger transaction with Dipexium Pharmaceuticals in 2017. That sequence created the public-company structure that investors followed in the later years, and it is an important part of the company’s equity story because it reflects a long history of strategic repositioning rather than a single linear operating model. ([annualreports.com](https://www.annualreports.com/HostedData/AnnualReportArchive/p/NASDAQ_PLXP_2019.pdf)) On the product side, PLx Pharma was best known for VAZALORE, a liquid-filled aspirin capsule line that the company positioned as a clinically differentiated OTC aspirin product. The 2019 annual report describes VAZALORE 325 mg as the first liquid-filled aspirin capsule approved by the FDA for over-the-counter distribution. The portfolio also included ibuprofen-based formulations and related platform-development work aimed at applying the same delivery technology to established therapeutic agents. This made the company more of a formulation and platform story than a conventional discovery-stage biotech story. ([annualreports.com](https://www.annualreports.com/HostedData/AnnualReportArchive/p/NASDAQ_PLXP_2019.pdf)) From a competitive standpoint, PLx Pharma operated in a niche segment of the U.S. pharmaceutical and consumer health market. Its competitive advantage was intended to come from intellectual property, formulation science, and potential GI-safety benefits rather than from scale. In practice, that meant competing against much larger prescription, OTC, and branded-drug companies, as well as against generic alternatives with lower cost bases. For investors, the key analytical question has always been whether the differentiated delivery technology could translate into meaningful commercial adoption and durable economics. ([plxpharma.com](https://plxpharma.com/about-us/)) Geographically, the company’s principal executive office was disclosed in Sparta, New Jersey in SEC filings, while the company website also lists a Dover, Delaware address. The business remained overwhelmingly U.S.-focused, consistent with its product approvals, commercialization efforts, and capital-markets presence in the United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1497504/000119380523000070/e618210_8k-plx.htm)) A major recent development is the Chapter 11 filing in April 2023. SEC disclosures state that PLx Pharma Winddown Corp. and its subsidiary filed voluntary petitions for relief in the U.S. Bankruptcy Court for the District of Delaware, and that the common stock began trading on the OTC Pink marketplace under PLXPQ. For market participants, that is a decisive signal: the investment case is no longer about normal operating growth on NASDAQ, but about wind-down, restructuring, and residual value recovery under a highly speculative scenario. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1497504/000119380523000903/e618735_8k-plx.htm))