Cyclo Therapeutics And Applied Molecular Transport Enter Into A Definitive Merger Agreement In All-Stock Transaction; Operate Under Name "Cyclo Therapeutics" And Trading Under "CYTH"
Portfolio Pulse from Benzinga Newsdesk
Cyclo Therapeutics and Applied Molecular Transport have entered into a definitive merger agreement in an all-stock transaction. The combined company will operate under the name Cyclo Therapeutics and trade under the symbol 'CYTH'. The company will focus on advancing Trappsol® Cyclo™ for the treatment of Niemann-Pick Disease Type C1 (NPC1). The company will have approximately $13.7 million cash on hand at closing to fund operations into 2H 2024. Upcoming milestones include completion of enrollment in a pivotal Phase 3 clinical trial in NPC1, reporting top line data, and preparation for NDA submission.
September 21, 2023 | 12:08 pm
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Applied Molecular Transport is merging with Cyclo Therapeutics in an all-stock deal. The company's focus will shift to advancing Trappsol® Cyclo™ for NPC1 treatment.
The merger could potentially increase the value of the company's stock due to the combined resources and the focus on advancing a promising treatment. However, the success of the merger and the subsequent impact on the stock price will depend on the successful advancement of the treatment and the company's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Cyclo Therapeutics is merging with Applied Molecular Transport in an all-stock deal. The company will focus on advancing Trappsol® Cyclo™ for NPC1 treatment and will have approximately $13.7 million cash on hand at closing to fund operations into 2H 2024.
The merger could potentially increase the value of the company's stock due to the combined resources and the focus on advancing a promising treatment. The company's financial stability, indicated by the $13.7 million cash on hand, could also positively impact the stock price. However, the success of the merger and the subsequent impact on the stock price will depend on the successful advancement of the treatment and the company's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100