RAPID DOSE THERAPEUTICS - RDTCF STOCK NEWS

Rapid Dose Therapeutics (RDT) announced its plan to issue common shares to pay accrued interest on its secured convertible notes and other debt obligations. The company aims to issue 520,968 shares at $0.18 each to satisfy $93,775.72 of interest on its notes. Additionally, 41,968 shares will be issued to Madison Partners for $7,554.28 of interest on a $250,000 debt. These shares will be issued no later than July 15, 2024, and will be subject to a holding period of four months and one day.

The notes, which mature on November 30, 2025, have an annual interest rate of 12%, calculated monthly and payable quarterly in shares. The financing included $3,134,445 in notes and 15,672,225 warrants.

Rapid Dose Therapeutics (RDT) has released its fiscal year 2024 financial results, highlighting a 42% increase in revenue to CAD$1,020,424. Despite this growth, the company reported a net comprehensive loss of CAD$4,287,578, a 12% increase from the previous year. Operating expenses rose by 3% to CAD$4,305,157, but non-cash charges decreased by 42% to CAD$782,559.

Key operational milestones include developing a Canadian retail base for nutraceutical products, entering a pharmaceutical collaboration to create QuickStrips for dental anesthesia, and initiating a pre-commercialization project for nicotine oral thin film strips. RDT also participated in an NFL-funded clinical trial for cannabinoid-based pain management. Regulatory delays continued to pose challenges, but post-year-end approvals for nutraceutical and cannabis products in Canada were achieved.

Rapid Dose Therapeutics (RDT) has received a $30,000 Mitacs Accelerate grant in May 2024, in addition to $55,000 awarded in 2023, to further develop Thin Polymer Films for Vaccine Delivery. The project, led by Prof. Alex Adronov of McMaster University, explores using RDT's QuickStrip™ Oral Thin Film (OTF) technology to deliver vaccines sublingually or buccally, eliminating the need for cold-chain storage and costly injections.

This funding will support a post-doctoral fellow for eight months to continue formulation development and proof-of-concept studies. Initial research demonstrated QuickStrip™'s effectiveness at encapsulating and releasing biomolecules and mRNA. The new phase aims to show mRNA transfection into living cells using this technology. The research also focuses on the thermal stability of active ingredients within the OTF, addressing logistical challenges in vaccine delivery.

CEO Mark Upsdell emphasizes the potential of this technology to make vaccine distribution more efficient in regions with inconsistent healthcare delivery. This project marks a continued collaboration between RDT and McMaster University, supported by Mitacs since 2019.

Rapid Dose Therapeutics Corp. (CSE: DOSE) announced an extension from the Canadian Securities Exchange for its ongoing equity private placement financing. The financing aims to raise up to $6,000,000 in gross proceeds through the sale of up to 35,294,117 common shares at a price of $0.17 per share. The extension allows the company to close the financing on or before August 8, 2024. The financing may occur in multiple tranches, and all issued securities will be subject to a four-month hold period following the closing date, in accordance with applicable securities laws.

Rapid Dose Therapeutics (CSE: DOSE) announces its collaboration in an NFL-funded clinical trial to study the efficacy of CBD for pain management and neuroprotection from concussions. The trial, led by Dr. J. Patrick Neary and researchers at the University of Regina, will compare the bioavailability of RDT's sublingual QuickStrip™ product with a standard oral CBD formulation in healthy young adults. This research aims to showcase the effectiveness of QuickStrip™, potentially leading to its inclusion in further studies within the NFL-funded clinical program. Dr. Neary highlights the study's potential to benefit both NFL players and general concussion sufferers.

Rapid Dose Therapeutics, in collaboration with McMaster University, has published a groundbreaking study on incorporating loratadine-cyclodextrin complexes into Oral Thin Films (OTF) for rapid drug delivery. This method increases the solubility of loratadine, commonly known as Claritin, allowing it to be effectively loaded into RDT's QuickStrip delivery platform. The study, published in the Journal of Pharmaceutical Sciences, funded by the Natural Sciences and Engineering Research Council of Canada and RDT, highlights significant enhancements in drug solubility and delivery. This collaboration aims to improve patient outcomes by offering an efficient alternative drug delivery route.