Rafael And Cyclo Therapeutics Have Agreed To Combine To Focus Trappsol Cyclo For Niemann-pick Disease Type C1
Portfolio Pulse from Benzinga Newsdesk
Rafael Holdings and Cyclo Therapeutics have agreed to merge, focusing on Trappsol Cyclo for Niemann-Pick Disease Type C1. Rafael will issue Class B shares to Cyclo's shareholders, valuing Cyclo shares at $0.95 each.
August 22, 2024 | 10:52 am
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Cyclo Therapeutics is merging with Rafael Holdings, with its shares valued at $0.95 each. This merger focuses on developing Trappsol Cyclo for Niemann-Pick Disease Type C1.
The merger with Rafael Holdings provides Cyclo Therapeutics with a strategic partner and financial backing, potentially boosting its stock value as it focuses on a specific treatment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Rafael Holdings will issue Class B shares to Cyclo Therapeutics' shareholders as part of their merger, focusing on Trappsol Cyclo for Niemann-Pick Disease Type C1.
The merger allows Rafael Holdings to expand its portfolio into the biotech sector, potentially increasing its market value and investor interest.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100