Core Insights - Synaptogenix, Inc. has formed an independent Special Committee to explore strategic opportunities aimed at enhancing value for investors [1] - The company has a strong financial position with $19.6 million in cash as of September 30, 2024, and approximately 1.3 million common shares outstanding [1][9] Company Overview - Synaptogenix is a clinical-stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases, particularly its lead candidate Bryostatin-1 for Alzheimer's disease [2] - Bryostatin-1 has received Orphan Drug Designation from the U.S. FDA for treating Fragile X syndrome and has been tested in over 1,500 individuals in cancer studies, providing a substantial safety database [2] Strategic Initiatives - The company is considering collaborations with third-party strategic and non-dilutive investment partners for the development of Bryostatin-1 [10] - Synaptogenix has submitted a grant proposal to the National Institutes of Health (NIH) for the development of Bryostatin-1 [10] - The CEO of Synaptogenix indicated expectations of a significant reduction in the cash burn rate while maintaining financial strength [3]
Synaptogenix Board of Directors Forms Special Committee to Explore Value Creation Opportunities Utilizing Balance Sheet Strength