180 Life Sciences Corp - ATNF STOCK NEWS

PALO ALTO, Calif., Dec. 29, 2022 – 180 Life Sciences updates shareholders on clinical programs targeting Dupuytren’s disease, frozen shoulder, and postoperative delirium. A phase 2B trial on Dupuytren's showed promising results, with plans for a UK marketing authorization application targeted for mid-2023. The company is enhancing recruitment strategies for the frozen shoulder trial, while preparations for the postoperative delirium trial are on track. Despite ongoing litigation, the company believes it is in a stronger cash position following recent financing and a completed reverse stock split.

180 Life Sciences Corp. (NASDAQ: ATNF) has completed a registered direct offering of 1,714,286 shares of common stock and accompanying warrants, raising approximately $6 million in gross proceeds. The offering was conducted with a healthcare-focused U.S. institutional investor at a purchase price of $3.50 per share. Proceeds from the offering will be allocated to research and development, including preparations for a marketing authorization application for Dupuytren’s contracture in the UK. The warrants are exercisable after six months and expire in five years.

180 Life Sciences Corp. (NASDAQ: ATNF) has announced a definitive agreement with a U.S. institutional investor to sell 1,714,286 shares and warrants to purchase up to 2,571,429 shares at a price of $3.50 per share. The offering is expected to close on or around December 22, 2022, with gross proceeds anticipated to be approximately $6 million. Funds from this offering will be directed towards research and development, a marketing authorization application, and general corporate purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent.

180 Life Sciences Corp. (NASDAQ: ATNF) announced a one-for-20 reverse stock split effective December 19, 2022, to comply with NASDAQ's minimum bid requirement of $1.00. The total shares will decrease from approximately 40.5 million to about 2.0 million. The reverse split will not affect the par value or authorized shares. All outstanding options and warrants will be adjusted accordingly. This action was approved by shareholders during a special meeting on December 15, 2022. The company remains focused on addressing unmet medical needs through its clinical programs.

180 Life Sciences Corp. (NASDAQ: ATNF) met with the UK MHRA to discuss Dupuytren's disease treatment data on October 31, 2022. They provided information about nodule size and hardness as surrogate markers. The MHRA noted that reducing nodule size may not correlate with disease progression and requested supporting literature on adalimumab's clinical safety. CEO Dr. James Woody stated they plan to submit a marketing approval application in 2023, though approval is not guaranteed. The company addresses significant unmet medical needs in Dupuytren's disease, impacting approximately 4% of the Western population.

180 Life Sciences Corp. (NASDAQ: ATNF) announced positive findings from a study by Oxford researchers indicating that anti-TNF treatment (adalimumab) is likely cost-effective for early-stage Dupuytren's disease, impacting over 5 million people in the UK. The study, led by Professor Jagdeep Nanchahal, revealed that adalimumab significantly reduces disease symptoms and may cost £14,593 per QALY gained, below the NHS threshold of £20,000. Dr. James Woody emphasized the importance of these findings for potential market accessibility and ongoing partnership discussions.

180 Life Sciences Corp. (NASDAQ: ATNF), a clinical-stage biotechnology firm, provided an update to stockholders highlighting progress in its clinical development programs targeting Dupuytren’s disease and other conditions. The company is conducting Phase 2 trials, with promising data reported in The Lancet Rheumatology about anti-TNF therapy potentially preventing disease progression. A meeting with the U.K. Medicines and Healthcare products Regulatory Agency (MHRA) is scheduled for Q4 2022 to discuss regulatory pathways for Dupuytren’s therapy. The company is also advancing trials for frozen shoulder and postoperative cognitive delirium.

180 Life Sciences Corp. (NASDAQ: ATNF) has announced the randomization of the first patient in a clinical trial evaluating the use of anti-tumor necrosis factor (TNF) therapy for pain predominant frozen shoulder. This significant milestone is part of a study funded by the National Institute of Health and Care Research in the U.K. The trial aims to assess whether early injections of anti-TNF can alleviate pain and prevent disease progression. Led by the University of Oxford, the study may pave the way for future phase 3 trials.