Core Viewpoint - Rapid Dose Therapeutics Corp. intends to extend the maturity date of its outstanding secured convertible notes from November 30, 2025, to November 30, 2026, as part of a strategic financial maneuver to manage its debt obligations [1]. Financing Details - The financing involved an offering of units priced at $1.00 per unit, each consisting of $1.00 principal amount of notes convertible at $0.17 per share, along with five common share purchase warrants with an exercise price between $0.14 and $0.17 per share, expiring on November 30, 2025. The total principal amount of notes issued was $3,134,445, along with 15,672,225 warrants [2]. Extension Agreement - Noteholders holding $3,084,445 of notes have agreed to extend the maturity date and the expiry date of their accompanying warrants to November 30, 2026, with an adjusted exercise price of $0.16. An extension fee of 5% will be paid in common shares at a price of $0.16 per share. One noteholder with a $50,000 note will receive cash repayment instead of an extension [3]. Interest Rate Adjustment - The interest rate on the notes will increase from 12% to 18% per annum, calculated and compounded monthly, with interest payable quarterly in arrears in common shares based on the closing market price on the Canadian Securities Exchange [4]. Accrued Interest Payment - The company plans to issue common shares to satisfy accrued and unpaid interest totaling $62,860.65 on the notes, due on the initial maturity date of November 30, 2025. This issuance is expected to occur no later than December 15, 2025 [5]. Securities Hold Period - All securities issued under the extension and for the payment of accrued interest will be subject to a hold period of four months and one day from the date of issuance [6]. Insider Participation - Certain insiders hold a total of $1,696,371 of notes and participated in the extension. The company is relying on exemptions from valuation and minority shareholder approval requirements due to the nature of the transaction being within the related party context [7]. Company Overview - Rapid Dose Therapeutics is a Canadian biotechnology company focused on innovative drug delivery solutions, with its flagship product QuickStrip™, an orally dissolvable film that can deliver various active ingredients rapidly into the bloodstream [8].

Core Viewpoint - Johnson & Johnson announced that the FDA granted Priority Review for TAR-200, an innovative intravesical gemcitabine releasing system aimed at treating high-risk non-muscle invasive bladder cancer patients who are unresponsive to BCG therapy [1][3]. Company Overview - Johnson & Johnson is focused on healthcare innovation, aiming to transform treatment approaches for complex diseases and improve patient outcomes through less invasive solutions [8]. Product Details - TAR-200 is designed to be inserted into the bladder through a brief outpatient procedure, remaining in place for three weeks per treatment cycle [2][4]. - The product is the first intravesical drug releasing system (iDRS) that provides sustained local delivery of cancer treatment into the bladder [3][4]. Clinical Study Insights - The Phase 2b SunRISe-1 study showed an 82.4% complete response rate, with 52.9% of patients remaining cancer-free for at least one year after achieving a complete response [3][5]. - The study primarily evaluated the safety and efficacy of TAR-200 in patients with BCG-unresponsive high-risk non-muscle invasive bladder cancer [5]. Regulatory Milestones - In January 2025, Johnson & Johnson initiated a New Drug Application with the FDA for TAR-200 under the Real-Time Oncology Review program [4]. - The FDA previously granted Breakthrough Therapy Designation to TAR-200 in December 2023 for the same patient population [4]. Market Context - High-risk non-muscle invasive bladder cancer (HR-NMIBC) represents a significant unmet medical need, with limited treatment options available for patients who do not respond to BCG therapy [6][7]. - Approximately 10% of patients with non-muscle invasive bladder cancer have HR-NMIBC with carcinoma in situ [6].