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Chromocell Therapeutics Corporation (NYSE American: CHRO) is a pioneering biotechnology company at the forefront of developing novel, non-opioid, and non-addictive therapeutics designed to alleviate pain and associated medical conditions. As a clinical-stage enterprise, Chromocell's initial focus is on selectively targeting the sodium ion-channel NaV1.7, which has been genetically validated as a pain receptor in human physiology. This innovative approach is aimed at treating various types of chronic neuropathic pain and eye pain.
Recently, the company successfully completed its initial public offering (IPO) on February 21, 2024, raising approximately $6.6 million in gross proceeds. This financial milestone has enabled Chromocell to significantly reduce its liabilities and accelerate the development of its non-opioid pain treatment portfolio.
Chromocell has two primary development programs:
- CC8464: This lead compound targets certain types of neuropathic pain. Phase I safety trials of CC8464 have demonstrated no liver or renal toxicity, no central nervous system changes, and no cardiovascular findings. The company is planning a slow dose escalation study to further evaluate and potentially mitigate the minor side effect of rashes in a small percentage of patients. Following this, Chromocell plans to commence a Phase II trial focusing on erythromelalgia (EM) or idiopathic small fiber neuropathy (ISFN), both of which are orphan indications in the United States.
- CT2000: This program is aimed at treating both acute and chronic eye pain. Current treatments for ocular pain often involve corticosteroids and NSAIDs, which can lead to severe complications. Chromocell is developing CT2000 eye drops, expected to move into animal toxicity studies in the second half of 2024, with subsequent proof-of-concept studies in humans planned in Australia.
The company operates with a lean but efficient team of four employees, leveraging consultants and contract research organizations (CROs) as needed. Chromocell also takes advantage of a substantial 43.5% tax credit on clinical expenses by conducting much of its development work in Australia.
In addition to its development programs, Chromocell is exploring strategic initiatives for non-dilutive capital, including potential out-licensing or joint ventures for its proprietary drug compounds. The company's prudent fiscal management and strategic growth plans position it for long-term success in the competitive biotechnology landscape.
Channel Therapeutics (NYSE: CHRO) has provided insights on the differences between NaV1.7 and NaV1.8 pain signal inhibitors, following Vertex Pharmaceutical's Phase 2 data announcement for Suzetrigine. The company emphasizes that while both are voltage-gated sodium channels in sensory neurons, NaV1.7 overexpression leads to more severe pain compared to NaV1.8's moderate pain effects.
Channel is pursuing a three-pronged approach with their NaV1.7 inhibitor: an oral treatment for neuropathic pain, an eye drop formulation for eye pain, and a slow-release depot formulation for post-surgical nerve blocks. The company expects critical data readouts in 2025 to validate their clinical development strategy.
Channel Therapeutics (NYSE: CHRO) announced positive results from preclinical trials of its NaV1.7 inhibitor nerve block formulations for acute pain. The study demonstrated superior efficacy and duration compared to bupivacaine, the current standard of care. Three out of four formulations showed better efficacy than bupivacaine, with one formulation remaining effective for over four days.
The trials included thermal hyperalgesia and mechanical allodynia tests in rodents, with multiple test arms including placebo, bupivacaine, and four Company formulations. Unlike current nerve block therapies that cause temporary paralysis, the NaV1.7 approach doesn't impact mobility, potentially offering better post-surgical physical therapy options.
The Company is targeting the post-operative global pain market, valued at $2.6 billion in 2023. Results for additional studies on eye drops for various types of eye pain are expected in late January 2025.
Channel Therapeutics (NYSE American: CHRO), formerly Chromocell, announced its name change and reincorporation in Nevada. The company focuses on developing non-opioid pain treatments through sodium channel modulation, specifically targeting NaV1.7. The company provided updates on three therapeutic programs: Depot Program for postoperative nerve blocks showing 96-hour sustained release in animals with pending efficacy results; Eye Pain Program with well-tolerated animal studies and expected Phase II human trials in Q2 2025; and a Chronic Pain program planned for Q1 2025 pending program-specific financing.
Chromocell Therapeutics (NYSE American: CHRO) has unveiled an injectable depot program using peripheral nerve blocks for post-operative pain treatment. The program leverages the company's NaV1.7 molecule, targeting a market of approximately 700,000 total knee replacements and 500,000 shoulder arthroplasties performed annually in the US. The company's drug has shown no addictive properties in four Phase I trials and demonstrated strong efficacy in preclinical models. The program aims to reduce opioid usage and could benefit from NOPAIN Act provisions upon FDA approval.
Chromocell Therapeutics (NYSE American: CHRO), a non-opioid pain treatment developer, has announced its participation in two upcoming investor conferences. CEO Frank Knuettel II will present at the LDMicro Main Event XVII on October 29, 2024, from 10:00-10:25 AM PT in Los Angeles, and at the Spartan Capital Investor Conference on November 4, 2024, from 9:45-10:00 AM ET in NYC.
Both events offer opportunities for one-on-one meetings and networking with institutional investors, industry leaders, and capital market representatives. The LDMicro event focuses on showcasing emerging micro-cap companies, while the Spartan conference brings together public company executives and institutional investors for strategic discussions.
Chromocell Therapeutics (NYSE American: CHRO) has announced an amendment to its stock repurchase plan, increasing the total value of shares available for repurchase by an additional $500,000 to $750,000. The amendment also extends the plan's termination date from December 31, 2024, to June 30, 2025. The company's CEO Frank Knuettel stated this decision reflects their belief that the common stock is undervalued and represents an attractive investment at current prices. The repurchases may be conducted through open market or private transactions, subject to Rule 10b-18 regulations and trading plans under Rule 10b5-1.
Chromocell Therapeutics (NYSE American: CHRO), a leader in non-opioid pain treatment development, will present at the H.C. Wainwright 26th Annual Global Investment Conference. CEO Frank Knuettel will provide a company overview, with the virtual presentation available from September 9th at 7:00 A.M. (ET).
Institutional investors can register at www.hcwevents.com/annualconference. The presentation will be accessible through Chromocell's Investor section website, with an archived replay available for at least 30 days. This event allows Chromocell to highlight its progress in developing innovative non-opioid pain treatments, focusing on modulating NaV1.7 receptors in the peripheral nervous system.
Chromocell Therapeutics (NYSE American: CHRO), a pioneer in non-opioid pain treatment development, has announced a stock repurchase plan of up to $250,000 of its common stock. This represents approximately 23% of the non-affiliate float based on the August 6, 2024 closing price. The plan, which is discretionary and can be modified or terminated at any time, aims to enhance stockholder value.
CEO Frank Knuettel stated that while the company remains focused on allocating capital to clinical and pre-clinical programs, they believe the current stock price doesn't reflect their progress in developing drugs for neuropathic and chronic pain. The company views its stock as an attractive investment opportunity and expects to make announcements in the coming months supporting their drug development efforts.
Chromocell Therapeutics (NYSE American: CHRO), a leader in non-opioid pain treatment development, has announced its participation in the Virtual Investor Lunch Break Series. The event, titled 'The Chromocell Opportunity,' is scheduled for Thursday, July 18, 2024, at 12:00 PM ET.
Frank Knuettel II, serving as both CEO and CFO, will present a corporate overview and business outlook. The session will include a live Q&A segment, allowing attendees to submit questions. A live video webcast will be available on the company's website, with a replay accessible for 90 days following the event.
Chromocell Therapeutics , listed as CHRO on NYSE American, will have its CEO present at Alliance Global Partners Healthcare Company Showcase on May 21, 2024. The conference will feature top healthcare companies discussing industry catalysts and future trends. Investors can attend the 20-minute 'fireside chat' style presentations online.
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