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TRYP Therapeutics, Inc. (TRYPF) is a pioneering clinical-stage biotechnology company focused on developing intravenous-infused psilocin for diseases with high unmet medical needs. The company's lead program, TRP-8803, aims to treat conditions such as binge eating disorder and fibromyalgia by utilizing proprietary formulations of psilocin in combination with psychotherapy. TRYP's strategic move to merge with Exopharm Limited reflects its commitment to enhancing market dynamics and financial structure, ultimately benefiting its shareholders.
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Tryp Therapeutics, Inc. and Exopharm have successfully completed a plan of arrangement, where Exopharm acquired Tryp in an all-stock transaction. Each Tryp shareholder will receive 3.616 Exopharm Shares for each Tryp Share held. The arrangement was approved by shareholders and the Supreme Court of British Columbia. Shareholders must return necessary documents for the transaction. Tryp Shares will be de-listed, while Exopharm Shares will start trading on the Australian Securities Exchange under 'Tryptamine Therapeutics ' and the ticker symbol 'TYP'.
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Tryp Therapeutics, Inc. provides an update on the plan of arrangement with Exopharm , with shareholders' approval and pending ASX approval. The voluntary trading halt is announced.
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Tryp Therapeutics, Inc. announces overwhelming approval of arrangement with Exopharm Limited at securityholders meeting. The special resolution for the arrangement was approved by 99.92% of Tryp shareholders, with a total of 37,738,906 common shares voted. The closing of the arrangement is pending final court, stock exchange, and regulatory approvals, expected in late March 2024.
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Tryp Therapeutics, Inc. has obtained an interim order of the Supreme Court of British Columbia in connection with the proposed arrangement between Tryp and Exopharm Limited. The meeting for Tryp securityholders to consider and vote on a special resolution approving the arrangement is scheduled to be held on March 8, 2024, in Toronto, Ontario. Tryp will be mailing meeting materials to securityholders, and an application for the final order of the Court is expected to take place on or before March 8, 2024.
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Tryp Therapeutics, Inc. announced a pivotal 2 cent waiver granted by the Australian Securities Exchange, leading to an amendment to its arrangement agreement with Exopharm Limited. Under the revised terms, Exopharm will acquire all issued and outstanding common shares of Tryp, in exchange for 3.616 ordinary shares of Exopharm for each Tryp share, with a consolidation of Exopharm shares before completing the transaction. Holders of convertible securities of Tryp will receive replacement securities of Exopharm with similar economic terms.
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Tryp Therapeutics, Inc. (TRYP) has received approval from the Human Research Ethics Committee in Australia to commence the Phase 1 clinical trial of TRP-8803, an IV-infused psilocin for diseases with high unmet medical needs. The trial aims to optimize doses and infusion rates of IV-administered psilocin to achieve targeted blood levels and collect real-time EEG data from human volunteers. The company is also making strides with its TRP-8802 clinical trial for irritable bowel syndrome patients, with patient dosing expected in the first half of 2024.
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Tryp Therapeutics Inc. (TRYP) announces the dosing of the first patient in a Phase 2a clinical trial for TRP-8802, a precursor to their lead drug candidate TRP-8803, designed to treat fibromyalgia and other neuropsychiatric disorders. The company aims to improve upon the limitations of oral psilocybin and provide relief to patients suffering from chronic pain.
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Tryp Therapeutics Inc. (CSE:TRYP), a clinical-stage biotechnology company, has entered into an arrangement agreement with Exopharm Limited for the acquisition of all of its issued and outstanding common shares in consideration of the issuance of 4.52 ordinary shares in the capital of Exopharm for each one Tryp Share. The purchase price of CAD$0.08 represents a 78% premium to the closing price of $0.045 and a 112% premium to the 20-day volume weighted price of $0.0378 per Tryp Share on December 8, 2023. Tryp shareholders are expected to receive 4.52 Exopharm Shares for each one Tryp Share held, representing an aggregate transaction value of approximately $12.8 million. The combined entity is expected to relist on the Australian Securities Exchange in Q1 2024 subject to approvals and raising a minimum of AUD$6,000,000 under a public offering.
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TRYP Therapeutics Inc. (CSE:TRYP) Announces Successful Closing of Oversubscribed Private Placement of Unsecured Convertible Notes
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Tryp Therapeutics Inc. announces the closing of its private placement of unsecured convertible debentures to its CEO for AUD$175,000.
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FAQ
What is the current stock price of TRYP THRAPEUTICS (TRYPF)?
The current stock price of TRYP THRAPEUTICS (TRYPF) is $0.0562 as of May 1, 2024.
What is the market cap of TRYP THRAPEUTICS (TRYPF)?
The market cap of TRYP THRAPEUTICS (TRYPF) is approximately 5.4M.
What is TRYP Therapeutics, Inc. focused on?
TRYP is focused on developing intravenous-infused psilocin for diseases with high unmet medical needs.
What is TRYP's lead program and its purpose?
TRYP's lead program, TRP-8803, is a proprietary formulation of psilocin aimed at treating conditions like binge eating disorder and fibromyalgia.
What recent strategic move has TRYP made?
TRYP has merged with Exopharm Limited to foster a robust market, as reflected by the granted 2 cent waiver by the Australian Securities Exchange.
What are the benefits of the merger with Exopharm Limited for TRYP?
The merger aligns with TRYP's commitment to enhancing market dynamics and financial structure, ultimately benefiting its shareholders.
What is the significance of the merger with Exopharm Limited?
The merger with Exopharm Limited represents a fundamental step in TRYP's strategic move to create a combined entity with enhanced market dynamics.
How does TRYP aim to improve treatment outcomes for patients?
TRYP utilizes proprietary formulations of psilocin in combination with psychotherapy to reduce the time to onset of the psychedelic state and enhance treatment efficacy.
What can shareholders expect from the merger with Exopharm Limited?
Shareholders can anticipate benefits from the enhanced market dynamics and financial framework resulting from the merger, ultimately reflecting positively on TRYP's growth potential.
Where can I find more information about TRYP Therapeutics?
For more information about TRYP Therapeutics, visit their official website at www.tryptherapeutics.com.
What are TRYP's objectives in developing proprietary formulations of psilocin?
TRYP aims to address the shortcomings of existing treatments by developing formulations that control the depth and duration of the psychedelic experience, thereby improving patient outcomes.
How does TRYP's merger with Exopharm Limited impact its operations?
The merger is expected to optimize TRYP's market position and financial stability, setting the stage for future growth and innovation.
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