Cyclo Therapeutics Ended The Quarter With ~$0.8M Of Cash. Subsequent To Quarter-End, The Company Generated Gross Proceeds Of $5M From The Sale Of Securities In Private Placements Of The Co's Securities
Portfolio Pulse from Happy Mohamed
Cyclo Therapeutics (NASDAQ:CYTH) reported Q2 2023 financial results, ending the quarter with $0.8M in cash. The company generated $5M from the sale of securities in private placements after the quarter-end. The company is on track to complete enrollment for its Phase 3 global study (TransportNPC™) by the end of 2023. The company also extended its cash runway with a $5M private placement with Rafael Holdings, Inc. (NYSE:RFL).
August 15, 2023 | 12:19 pm
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NEUTRAL IMPACT
Cyclo Therapeutics reported Q2 2023 financial results, with a net loss of $4.6M. The company is progressing with its Phase 3 study and extended its cash runway with a $5M private placement.
The company's financial results show a net loss, but it has managed to extend its cash runway through a private placement. The progress of the Phase 3 study is also a positive sign, but the overall impact on the stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Rafael Holdings, Inc. participated in a $5M private placement with Cyclo Therapeutics.
Rafael Holdings' participation in the private placement with Cyclo Therapeutics extends its investment portfolio but the direct impact on its stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50