On May 15, 2024 Sigyn Therapeutics, a development-stage medical technology company, reported financial results for the first quarter ended March 31, 2024 (Press release, Sigyn Therapeutics, MAY 15, 2024, View Source [SID1234643349]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
During the quarter, the Company reported a loss from operations of $629,972, as compared to an operating loss of $521,258 for the comparable period in 2023. The Company’s net loss for Q1 2024 was $758,088 or $0.62 per share, as compared to a net loss of $1,341,036, or $1.39 per share, during Q1 2023.
During the first quarter, the Company completed a 1-for-40 reverse split of its common stock. As a result, 1,224,827 shares of Company’s common stock are currently issued and outstanding.
For complete financial results, please see Sigyn Therapeutics’ filings at www.sec.gov, or access them on the Company’s website at www.SigynTherapeutics.com.
Subsequent to previously reported first quarter activities, the Company published a white paper on May 7th entitled: "Sigyn TherapyTM, an Emerging Candidate to Address Endotoxemia, Sepsis, and Drug-Resistant Viral & Bacterial Infections." The paper details the advancement of Sigyn TherapyTM to treat life-threatening conditions that are not addressed with drug therapies. It can be accessed through the following link:
On May 9th, the Company submitted a Patent Cooperation Treaty (PCT) application entitled: "DEVICES FOR ENHANCING THE ACTIVITY OF THERAPEUTIC ANTIBODIES". WO Patent Application No.: PCT/US24/28579. The patent submission is associated with the Company’s ImmunePrepTM platform to improve the delivery of immunotherapeutic antibodies to treat cancer, which are among the most valued assets in global medicine. Regardless, this class of drugs are poorly delivered to cancer cell targets and as a result, many cancer patients don’t respond to therapy. The patent inventors are James A. Joyce and Annette M. Marleau, who previously collaborated on patent submissions underlying the Company’s ChemoPrepTM and ChemoPureTM devices to improve the delivery and reduce the toxicity of chemotherapy.