Core Viewpoint - Stockholders of Third Harmonic Bio, Inc. have overwhelmingly approved the Plan of Liquidation and Dissolution, with an initial distribution expected between $5.30 and $5.35 per share in Q3 2025 [2][3][4] Group 1: Plan of Liquidation and Dissolution - The Plan of Dissolution received 99.9% approval from voting shareholders and 83.7% of total outstanding common shares [3] - The company anticipates finalizing the Plan of Dissolution and making initial distributions to stockholders in Q3 2025 [3][4] - Total distributions are estimated to be between $5.30 and $5.44 per share, excluding potential cash from asset sales [4] Group 2: THB335 Clinical Trial and Sale Process - THB335 demonstrated an 85% reduction in serum tryptase levels in a Phase 1 clinical trial cohort with a 100mg dose [6] - The company has completed all necessary clinical, toxicology, and manufacturing activities to support a Phase 2 trial for THB335 and plans to submit a regulatory filing to the FDA [8] - A sale process for THB335 and related intellectual property has been initiated, with interested parties encouraged to contact the company [9]

Core Viewpoint - Third Harmonic Bio, Inc. has approved a Plan of Liquidation and Dissolution, aiming to maximize stockholder value through asset sales and cash distributions to shareholders [1][2][3] Group 1: Plan of Liquidation and Dissolution - The Board of Directors unanimously approved the dissolution and liquidation of the Company, pending stockholder approval, with a meeting scheduled for June 5, 2025 [3] - The initial distribution to stockholders is expected to be between approximately $246.6 million and $255.4 million, translating to about $5.13 to $5.33 per share, anticipated in the third quarter of 2025 [1][3] - The Company plans to sell its assets, including the THB335 program, to maximize value for stockholders during the liquidation process [1][2] Group 2: Financial Estimates and Provisions - The total estimated distribution to stockholders could range from approximately $246.6 million to $259.8 million, or about $5.13 to $5.42 per share, depending on the outcomes of asset sales [3] - The Company will establish a reserve to cover expenses and liabilities during the dissolution process, ensuring sufficient funds are available to meet obligations [3] Group 3: Management Statements - The CEO emphasized the management team's commitment to maximizing asset value and acting in the best interest of patients and shareholders [2] - The Board retains the right to abandon the Plan of Dissolution at any time before it becomes effective if deemed in the best interest of the Company and its stockholders [4]

Core Insights - Third Harmonic Bio, Inc. has reported promising Phase 1 clinical trial results for THB335, a treatment for chronic spontaneous urticaria (CSU), and is preparing to advance into Phase 2 trials [1][2][3] - The company is undergoing a strategic alternatives process to enhance shareholder value and has significantly reduced its workforce by approximately 50% [4] - As of December 31, 2024, the company maintains a strong financial position with cash and cash equivalents totaling $285.1 million [5][6] THB335 Phase 1 Clinical Results - The Phase 1 clinical trial included 48 participants in a single ascending dose (SAD) study and 32 participants in a 14-day multiple ascending dose (MAD) study, focusing on the safety, tolerability, pharmacokinetics, and pharmacodynamics of THB335 [2] - The MAD dose levels tested were 21 mg, 41 mg, 82 mg, and 164 mg, with results presented at a major allergy and immunology congress [2] THB335 Program Next Steps - The company plans to continue development activities for THB335 through the first half of 2025, aiming to initiate a 12-week, placebo-controlled Phase 2 study by mid-2025 [3] Corporate Strategic Outlook - Third Harmonic Bio has initiated a strategic review process to explore opportunities for maximizing shareholder value, halting all non-THB335 related research and discovery activities [4] - The workforce reduction is part of the company's strategy to focus resources on the THB335 program [4] Financial Results Summary - Cash and cash equivalents were reported at $285.1 million as of December 31, 2024, with an estimated range of $262 million to $267 million expected by June 30, 2025 [5][6] - Research and development expenses rose to $10.5 million for Q4 2024, up from $5.9 million in Q4 2023, and totaled $36.5 million for the year, compared to $24.0 million in 2023 [7] - General and administrative expenses increased to $5.9 million for Q4 2024, from $4.5 million in Q4 2023, and totaled $22.4 million for the year, compared to $20.0 million in 2023 [8] - The net loss for Q4 2024 was $13.1 million, up from $6.8 million in Q4 2023, with a total net loss of $45.5 million for the year, compared to $30.8 million in 2023 [9]