Cyclo Therapeutics, Inc. - CYTH STOCK NEWS

Cyclo Therapeutics (Nasdaq: CYTH) announced the closing of a private placement of its securities, raising approximately $1.3 million from accredited investors, including directors and management. The company sold 1,562,883 shares of common stock at a price of $0.84 each, accompanied by warrants for an equal number of shares with a $0.71 exercise price, valid for seven years. The funds will be directed towards working capital and general corporate purposes, supporting its Trappsol® Cyclo™ development programs for rare diseases such as Niemann-Pick Disease Type C. The private placement was conducted under Regulation D and relevant exemptions from the Securities Act of 1933, meaning that the securities cannot be sold in the U.S. without effective registration or applicable exemptions.

Cyclo Therapeutics (NASDAQ: CYTH) reports significant progress in its clinical programs for Trappsol^® Cyclo™. The pivotal Phase 3 TransportNPC™ study for Niemann-Pick Disease Type C1 has achieved 40% enrollment and is expected to complete by year-end 2023. The company is also advancing a Phase 2b study for early Alzheimer’s Disease, with patient dosing ongoing. In January 2023, Cyclo Therapeutics completed financing, raising net proceeds of $3.7 million. The company's financial results for 2022 included a net loss of $15.5 million, while research expenses decreased slightly. Cyclo Therapeutics maintained a cash position of approximately $1.5 million as of year-end.

Cyclo Therapeutics (NASDAQ: CYTH) announced significant progress in its clinical programs for Trappsol^® Cyclo™. The pivotal Phase 3 study, TransportNPC™, is on track with 35% enrollment completed, expecting full enrollment by year-end 2023. Additionally, patient enrollment for a Phase 2b study in early Alzheimer’s Disease is underway. CEO N. Scott Fine emphasized the company's commitment to addressing unmet medical needs in Niemann-Pick Disease Type C and Alzheimer's Disease. Key achievements in 2022 were also highlighted, reaffirming the company's focus and resource allocation to these critical areas.

Cyclo Therapeutics, Inc. (NASDAQ: CYTH), a clinical-stage biotechnology company, will be presenting at the Virtual Investor 2023 Companies to Watch Event on January 19, 2023, at 11:00 AM ET. CEO N. Scott Fine will lead the presentation, which will be accessible through a live video webcast. Cyclo Therapeutics focuses on developing treatments for diseases, particularly with its orphan drug Trappsol® Cyclo™ aimed at Niemann-Pick Disease Type C and early Alzheimer’s disease.

Cyclo Therapeutics (NASDAQ: CYTH) has enrolled and dosed the first patient in its Phase 2b study of Trappsol^® Cyclo™ for early Alzheimer’s disease. The study will analyze the safety and efficacy of the drug over six months, targeting about 120 patients experiencing cognitive decline. This milestone follows promising results from previous studies highlighting Trappsol's ability to manage cholesterol transport, a critical factor in neurodegenerative diseases. The company is also testing Trappsol in a Phase 3 trial for Niemann-Pick disease Type C.

Cyclo Therapeutics (CYTH) has completed a registered direct offering of 2,608,696 shares at $1.61 per share, totaling approximately $4.2 million in gross proceeds. Additionally, the company issued series A-1 and A-2 warrants for the same number of shares with exercise prices of $1.36. The net proceeds will be used for working capital and to advance its Phase III trial for Niemann-Pick Disease Type C with Trappsol^® Cyclo™. H.C. Wainwright & Co. acted as the exclusive placement agent for this offering.