Business
Thiogenesis Announces DTC Eligibility in the U.S. and Other Updates
San Diego, California--(Newsfile Corp. - November 28, 2024) - Thiogenesis Therapeutics, Corp. (T...
About this update from Thiogenesis Therapeutics Corp
[{"type":"text","content":"Thiogenesis Announces DTC Eligibility in the U.S. and Other UpdatesSan Diego, California--(Newsfile Corp. - November 28, 2024) - Thiogenesis Therapeutics, Corp. (TSXV: TTI) (OTC: TTIPF) (\"Thiogenesis\" or the \"Company\") a clinical-stage biotechnology company developing novel thiol compounds, that includes precursors to cysteamine and that have potent antioxidant and anti-inflammatory properties for the treatment of inherited mitochondrial diseases and metabolic conditions, is pleased to announce that it has attained Depository Trust Company (\"DTC\") eligibility status in the U.S. DTC eligibility allows electronic settlement of the Company's common shares necessary to create an active market for the Company in the U.S. which is in line with Thiogenesis' future plans for a U.S. listing. Capital Event Management (\"CEM\") Conference As part of the Company's U.S. listing strategy, Thiogenesis is expanding its investor relations outreach by recently participating in the CEM conference at the JW Marriott in Miami, Florida on November 22 - 24, 2024. The CEM conference provided the opportunity for small-cap companies to present to high net worth individuals, small-cap investment advisors, and institutional investors in a 1-on-1 setting in addition to general networking opportunities with a group of investors over 3 days. Issuance of Shares Upon Exercise of Finders OptionsOn November 18, 2024, the Company issued 521,800 shares of its common stock resulting from the exercise of Finder's Options, at an exercise price of $0.50 per share, adding an additional $260,900 to its treasury. The Finder's Options were set to expire on November 18, 2024. The Finder's Options were issued in November 2022 as compensation for placing investors in a $5.3 million financing. Thiogenesis' cash and cash equivalents was $4.15 million as of September 30, 2024.About ThiogenesisThiogenesis Therapeutics, Corp. (TSXV: TTI) is a clinical-stage biopharmaceutical company operating through its wholly owned subsidiary based in San Diego, CA. The Company is publicly traded on the TSX Venture Exchange. Thiogenesis is developing sulfur-containing prodrugs that act as precursors to previously approved thiol compounds, with the potential to treat serious pediatric diseases with unmet medical needs. Prodrugs are drugs that contain previously approved active ingredients a...