Chromocell, under CEO Frank Knuettel II, announced the successful closure of its IPO on February 21, 2024, raising $6.6 million. The company converted all pre-IPO debt and Series A Preferred Stock to common stock and transferred liabilities in exchange for Series C Preferred Stock. Chromocell is focusing on developing non-opioid pain treatments, with its lead compound CC8464 completing Phase I trials and planning for Phase II. Another program, CT2000, targets acute and chronic eye pain. The company aims for fiscal responsibility, leveraging tax credits and exploring non-dilutive capital options.