Applied Molecular Transport Stock Price, News & Analysis

Applied Molecular Transport Inc. (AMTI) is a clinical-stage biopharmaceutical company focused on the development of innovative oral biological therapeutics. Leveraging its proprietary technology platform, AMTI designs novel biologic product candidates in patient-friendly oral dosage forms. Their core expertise lies in mucosal immunology and microbiome-epithelial interfaces, leading to the creation of first-in-class molecules aimed at treating autoimmune, inflammatory, and other grievous diseases, including cancer, metabolic, and hepatologic disorders.

Recent developments highlight AMTI's pursuit of strategic alternatives, with MTS Health Partners, L.P. advising the company. As of June 30, 2023, cash and cash equivalents stood at $22.5 million. The company has undergone significant restructuring, including workforce reductions and the cessation of all research and development activities, reflected in a decrease in R&D expenses from $22.8 million in Q2 2022 to $2.6 million in Q2 2023.

AMTI's most advanced product candidate, AMT-101, has completed four Phase 2 clinical trials. In a strategic move, AMTI has entered a merger agreement with Cyclo Therapeutics, Inc., expected to finalize by the end of 2023. This merger aims to advance Cyclo Therapeutics' pivotal Phase 3 study of Trappsol® Cyclo™ for Niemann-Pick Disease Type C1 (NPC1), with the combined company operating under the Cyclo Therapeutics name and trading on Nasdaq as CYTH.

The merger is anticipated to bolster the combined company's cash position, extending the runway into the second half of 2024, crucial for meeting clinical and regulatory milestones. Shawn Cross, CEO of AMTI, will join the Cyclo Therapeutics Board, ensuring continuity and strategic alignment.