13D Filing: Park West Asset Management and PLX Pharma Inc. (PLXP)

The
Reporting Persons purchased an aggregate of 57,542 shares of Common Stock on the open market and an aggregate of 1,018,181
shares of Common Stock in a registered direct offering (including a private placement of related warrants) on June 9,
2017, in each case based on the Reporting Persons’ belief that such securities, when purchased, were undervalued
and represented an attractive investment opportunity.  The acquisitions were made in the ordinary course of
the Reporting Persons’ investment activities and such securities are currently held for investment purposes.

The
Reporting Persons anticipate engaging in discussions with the Issuer’s management and members of the Issuer’s Board of
Directors concerning potential financing transactions that may result in the acquisition by the Reporting Person of additional
shares of Common Stock and/or other securities from the Issuer.

The
Reporting Persons may have further discussions with the Issuer’s management and members of the Issuer’s Board
of Directors regarding operational, strategic, financial or governance matters with the intent of maximizing shareholder
value.  In addition, the Reporting Persons may have discussions with other parties, including significant shareholders
of the Issuer, regarding the Issuer and future plans of proposals with respect to the Issuer and its securities.

The
Reporting Persons intend to review their investment in the Issuer on a continuing basis.  Depending on various
factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the
Common Stock, conditions in the securities markets and general economic and industry conditions, the Reporting Persons
may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including,
without limitation, seeking representation on the Issuer’s Board of Directors, making proposals to the Issuer concerning
changes to the capitalization, ownership structure or operations of the Issuer, purchasing additional shares of Common
Stock or other securities, selling some or all of their shares of Common Stock or warrants, engaging in short selling
of or any hedging or similar transaction with respect to the Common Stock or changing their intention with respect to
any and all matters referred to in Item 4.

Other
than as set forth above, the Reporting Persons do not have any plans or proposals as of the date of this filing which
relate to, or would result in, any of the actions enumerated in Item 4 of the instructions to Schedule 13D.