KALTF - KALTF STOCK NEWS

Claritas Pharmaceuticals has successfully closed the first tranche of a private placement offering of convertible debentures, raising net proceeds of USD $930,000. The total proceeds amount to approximately CAD $1,247,000, intended primarily for the Phase 1 clinical study of R-107 and general corporate needs. Future tranches may provide additional funding of USD $750,000 and USD $1,250,000, respectively. The company aims to complete the Phase 1 study by Q1 next year and plans further clinical exploration for R-107 related to pulmonary arterial hypertension and COVID-19 sepsis.

Claritas Pharmaceuticals announced a binding Letter of Intent with Biozeus Biopharmaceuticals to acquire exclusive rights to develop and commercialize BZ371B, a novel treatment for ARDS related to COVID-19. The global ARDS treatment market is projected to reach $934.8 million by 2026. BZ371B is currently in a clinical study, showing positive results in reducing disease severity among intubated patients. Claritas aims to establish itself as a leader in nitric oxide pharmaceuticals with this acquisition, pending regulatory approvals.

Claritas Pharmaceuticals announces the closing of a brokered private placement offering, securing net proceeds of USD $930,000, subject to TSXV approval. This includes a cash rebate of AUD $880,000 for R&D expenses from the Australian Tax Office. The funds will primarily support the Phase 1 clinical study of R-107 in Adelaide, Australia. The company expects to complete this study by Q1 next year, followed by a Phase 2a study involving COVID-19 related PAH by Q3 next year. Aggregate proceeds from the offering will total approximately CAD $1,980,000.

Claritas Pharmaceuticals (OTC: KALTF) announced positive results from a study at Royal Brompton & Harefield NHS Foundation Trust, demonstrating that its nitric oxide-releasing compound R-107 significantly improved oxygen levels in patients with severe COVID-19 pneumonia. This study, the largest of its kind, involved 35 patients receiving inhaled nitric oxide as part of their care, showing notable oxygen and ventilatory efficiency improvements. R-107 aims to provide a new treatment avenue for COVID-19 and pulmonary arterial hypertension due to its ability to release nitric oxide effectively over 24 hours.

Claritas Pharmaceuticals has announced the initiation of a Phase 1 clinical study for its drug R-107, targeting pulmonary arterial hypertension (PAH), by August 2021. This study follows promising results from animal models, suggesting R-107 can halt disease progression and offer long-lasting relief from acute symptoms. With a $6 billion global market projected to expand to $9.8 billion by 2027, R-107 could become a key player in treating PAH. The study at CMAX in Australia is expected to conclude by Q4 2021, paving the way for further trials, including in COVID-19-related PAH.

Claritas Pharmaceuticals (TSX VENTURE EXCHANGE: CLAS and OTC: KALTF) announced that its two largest shareholders have committed to vote for a special resolution for a share consolidation at its Annual General Meeting on June 17, 2021. The consolidation aims to improve investor interest, compliance with exchange pricing policies, and trading liquidity, while potentially reducing price volatility. Claritas anticipates receiving approximately AUD $900,000 from a tax refund, which will be allocated towards initiating a Phase 1 study of R-107.

Claritas Pharmaceuticals (KALTF) announced a Debt Forgiveness Agreement with Talent Biotechs Ltd., transferring its cannabidiol assets in exchange for debt forgiveness, including approximately USD $4.3 million in liabilities. This strategic move is aimed at improving the company’s financial position as it shifts focus to R-107, targeting pulmonary arterial hypertension and COVID-19 related sepsis. Approval from the TSX Venture Exchange and shareholders is required. A special meeting is scheduled for June 17, 2021 to discuss the agreement.

Claritas Pharmaceuticals (OTC: KALTF) is advancing its nitric oxide therapy, R-107, designed to treat pulmonary arterial hypertension (PAH) and other serious conditions. CEO Robert Farrell emphasizes R-107's potential to outperform existing treatments, supported by promising animal study results. The company anticipates initiating a Phase 2 Proof of Concept Study for R-107 in PAH in early 2022, aiming for rapid out-licensing or sale opportunities. Claritas is focused on eliminating debt and utilizing non-dilutive financing sources to strengthen its financial position as it progresses toward its clinical goals.

Claritas Pharmaceuticals has partnered with CMAX Clinical Research to conduct a Phase 1 clinical study of R-107, a nitric oxide-releasing compound, in Adelaide, Australia. This randomized, placebo-controlled study will evaluate R-107's pharmacokinetics and safety in 32 healthy volunteers. The drug, applicable for COVID-19 and pulmonary arterial hypertension (PAH), is designed for easy administration via intramuscular injection. Results are expected to support follow-on studies for severe PAH and COVID-19 related conditions by early 2022.