Synaptogenix Files Application to List on the Nasdaq Stock Market
Synaptogenix, Inc. (OTC: SNPX), a biopharmaceutical firm focused on neurodegenerative therapies, has applied to list its common shares on the Nasdaq Stock Market. While the company believes it meets all listing requirements, approval is not guaranteed. CEO Dr. Alan J. Tuchman highlighted that Synaptogenix is well funded for its Phase 2 clinical trial of Bryostatin-1, its lead candidate for Alzheimer's treatment. The drug has received Orphan Drug Designation for Fragile X syndrome and has been tested on over 1,500 individuals, providing a substantial safety database.
- Submitted application to list on Nasdaq, potentially increasing visibility and liquidity.
- Well-funded for Phase 2 clinical trial of Bryostatin-1, indicating strong financial support.
- Bryostatin-1 has a substantial safety database, having been tested in over 1,500 individuals.
- No assurance that the Nasdaq application will be approved.
- Clinical development may encounter delays or issues, impacting timelines.
NEW YORK, Feb. 9, 2021 /PRNewswire/ -- Synaptogenix, Inc. (OTC: SNPX) (the "Company"), an emerging biopharmaceutical company focused on developing therapies for neurodegenerative diseases, announced that it has submitted a formal application to list its common shares on the Nasdaq Stock Market ("Nasdaq").
The Company intends to satisfy all of the applicable listing requirements; however, there is no assurance that its application will be approved. During the Nasdaq review process, the Company's common stock will continue to trade on the OTC under its current symbol, SNPX.
Dr. Alan J. Tuchman, CEO of Synaptogenix, stated, "Following our recent financing, Synaptogenix is well funded to move through our National Institutes of Health sponsored, double blinded, Phase 2 clinical trial. We are emboldened by recent investor interest in the newer approaches to Alzheimer's which we have been a leader in for more than 30 years. We look forward to updating shareholders on our trial progress, as well as any ancillary trials which are initiated, in the near term."
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, and preclinical studies for rare diseases such as Fragile X syndrome, Niemann-Pick Type C disease, and Rett syndrome, 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 Company's application for listing its common shares on the Nasdaq Stock Market. 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
Neil Cataldi
ncataldi@synaptogen.com
Robert Weinstein
Chief Financial Officer
Synaptogenix, Inc.
rweinstein@synaptogen.com
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SOURCE Synaptogenix, Inc.
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