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Sharp Therapeutics Corp. Announces Fourth Quarter 2025 Results, Closing of Convertible Note Offering and Adoption of Semi-Annual Reporting
Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - April 17, 2026) - Sharp Therapeu...
About this update from Sharp Therapeutics Corp.
[{"type":"text","content":"Sharp Therapeutics Corp. Announces Fourth Quarter 2025 Results, Closing of Convertible Note Offering and Adoption of Semi-Annual ReportingPittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - April 17, 2026) - Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) (\"Sharp\" or the \"Company\") announces the release of its annual audited consolidated financial statements for the year ended December 31, 2025, and related management discussion and analysis (\"MD&A\") and annual information form. All dollar figures are in United States dollars, unless otherwise stated. Scott Sneddon, Sharp's Chief Executive Officer, stated: \"Our Q4 financial results show our continued investment in research and development programs, mainly our GBA1, Niemann Pick C and Progranulin programs. We spent 80% more than the comparable quarter in 2024 which continues to move the Company towards clinical trials. Our investment will continue as we aim for our next milestone of entering Phase I clinical trials in 2027.\"Closing of Convertible Note OfferingThe Company is also pleased to announce that it has closed the fifth and final tranche (the \"Fifth Tranche\") of its previously announced non-brokered private placement for unsecured convertible notes of the Company (collectively, the \"Notes\"), in the principal amount of US$1,000 per Note (the \"Note Offering\"). Pursuant to completing the Fifth Tranche, the Company issued a total of 450 Notes for aggregate gross proceeds of approximately US$450,000. With the closing of the Fifth Tranche, the Note Offering is now complete whereby the Company issued a total of 1,550 Notes for aggregate gross proceeds of approximately US$1,550,000 across the five tranches. The net proceeds of the Note Offering will be used for general working capital purposes.Each Note shall be convertible at the option of the holder into common shares in the capital of the Company (each, a \"Conversion Share\") at a conversion price of US$2.00 per Conversion Share (the \"Conversion Price\"), at any time prior to the date that is twelve (12) months following the applicable closing date (the \"Maturity Date\"). Each Note shall bear interest at a rate of six percent (6.0%) per annum, calculated as simple interest accrued monthly in arrears. Interest on the principal amount outstanding under each Note shall accrue during...