Synaptogenix Announces Approval for Nasdaq Stock Market Listing
Synaptogenix, Inc. (OTC: SNPX) has received approval to uplist to The Nasdaq Capital Market, effective June 7, 2021. This uplisting marks a significant milestone for the biopharmaceutical company, which focuses on treatments for neurodegenerative diseases. CEO Alan Tuchman and President Daniel Alkon emphasized that this transition will enhance visibility and outreach to investors. The company's lead therapeutic candidate, Bryostatin-1, has shown promise in clinical studies for conditions like Alzheimer's and Fragile X syndrome. The FDA has granted Orphan Drug Designation to Bryostatin-1 for Fragile X.
- Approval to uplist to The Nasdaq enhances investor visibility.
- Bryostatin-1 has a large safety database from prior cancer studies involving over 1,500 participants.
- FDA grants Orphan Drug Designation for Bryostatin-1, indicating regulatory support for its development.
- Risks and uncertainties associated with the clinical program for Bryostatin-1 could impact success.
- Potential delays and problems in drug development may arise, affecting timelines.
- Market volatility and illiquidity could impact stock performance.
NEW YORK, June 7, 2021 /PRNewswire/ -- Synaptogenix, Inc. (OTC: SNPX), an emerging biopharmaceutical company focused on developing therapies for neurodegenerative diseases, announced today that it has been approved to uplist to The Nasdaq Capital Market ("Nasdaq"). Trading on the Nasdaq is expected to begin effective today at the open of the market, June 7th, 2021 under the Company's ticker symbol "SNPX."
Alan Tuchman M.D., Chief Executive Officer, stated, "I am pleased to announce that Synaptogenix has been approved to begin trading on the Nasdaq. This uplist represents an important milestone in our Company's history and is a testament to the work of our employees who continue to pursue the Synatogenix mission seeking restorative and novel therapeutics for those with life altering neurodegenerative diseases."
Daniel Alkon, M.D., President and Chief Scientific Officer, added, "Trading on the Nasdaq will allow us to enhance our visibility and outreach to investors who share our objectives of regenerating the brain's wiring and successfully treating the diseases that underlie Alzheimer's disease, Multiple Sclerosis, Fragile X, and other forms of brain degeneration."
About Synaptogenix, Inc.
Synaptogenix is a clinical-stage biopharmaceutical company that has historically worked to develop novel therapies for neurodegenerative diseases. Synaptogenix has conducted clinical and preclinical studies of its lead therapeutic candidate, Bryostatin-1, in Alzheimer's disease. Preclinical studies have also demonstrated Bryostatin's regenerative mechanisms of action for the rare disease, Fragile X syndrome, and for other neurodegenerative disorders such as multiple sclerosis, stroke, and traumatic brain injury. The U.S. Food and Drug Administration has granted Orphan Drug Designation to Synaptogenix for Bryostatin-1 as a treatment for Fragile X syndrome. Bryostatin-1 has already undergone testing in more than 1,500 people in cancer studies, thus creating a large safety data base that will further inform clinical trial designs.
Additional information about Synaptogenix, Inc. may be found on its website: www.synaptogen.com.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include statements regarding the listing of our shares of common stock on the Nasdaq Capital Market, Phase 2 clinical trial of Bryostatin-1 and further studies, and continued development of use of Bryostatin-1 for AD and other cognitive diseases. Such forward-looking statements are subject to risks and uncertainties and other influences, many of which the Company has no control over. There can be no assurance that the clinical program for Bryostatin-1 will be successful in demonstrating safety and/or efficacy, that we will not encounter problems or delays in clinical development, or that Bryostatin-1 will ever receive regulatory approval or be successfully commercialized. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Additional factors that may influence or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain adequate financing, the significant length of time associated with drug development and related insufficient cash flows and resulting illiquidity, the Company's patent portfolio, the Company's inability to expand its business, significant government regulation of pharmaceuticals and the healthcare industry, lack of product diversification, availability of the Company's raw materials, existing or increased competition, stock volatility and illiquidity, and the Company's failure to implement its business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to update these forward-looking statements.
Contact information:
Investors and Media
Investor Relations
Brett Maas
Hayden IR
brett@haydenir.com
(646)536-7331
Robert Weinstein
Chief Financial Officer
Synaptogenix, Inc.
rweinstein@synaptogen.com
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SOURCE Synaptogenix, Inc.
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