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Cyclo Therapeutics has priced its public offering of 1,950,000 shares at $6.00 per share, expected to raise $11.7 million in gross proceeds. The underwriter, Maxim Group LLC, has a 45-day option to purchase an additional 292,500 shares. This offering is made under an effective shelf registration statement with the SEC. The funds will support the company's clinical developments, including trials for Niemann-Pick Disease Type C and potential Alzheimer's applications.
Cyclo Therapeutics has initiated an underwritten public offering of its common stock, with details subject to market conditions. The offering is conducted by Maxim Group LLC as the sole book-running manager and will follow an effective shelf registration statement filed with the SEC. The company aims to secure funding to support its clinical trials for Trappsol® Cyclo™, which is currently involved in four trials for Niemann-Pick Disease Type C and is exploring further applications in Alzheimer’s Disease.
Cyclo Therapeutics (NasdaqCM:CYTH, CYTHW) announced initial data from its open-label study of Trappsol® Cyclo™ for Niemann-Pick Disease Type C (NPC). All eight patients in the study demonstrated disease stability or improvement in NPC Severity Scores over 10 months. Notably, patients receiving 1500 mg/kg showed stable scores, while those at 2500 mg/kg improved significantly. The safety profile was favorable, with only mild adverse events reported. Cyclo Therapeutics has FDA authorization to begin a Phase 3 trial, expected to enroll patients in early 2021, enhancing the company's position in the neurodegenerative disease market.
Cyclo Therapeutics, Inc. (NasdaqCM:CYTH, CYTHW) has completed the sale of an additional 375,000 shares of common stock at $4.99 each, generating gross proceeds of $1,871,250. This affects the public offering that initially closed on December 11, 2020, increasing total proceeds to $14,375,000. Maxim Group LLC served as the sole book-running manager for the offering. The company focuses on cyclodextrin-based treatments for neurodegenerative diseases, particularly Niemann-Pick Disease Type C, and is conducting several clinical trials for its lead candidate, Trappsol® Cyclo™.
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