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NEW YORK - Klotho Neurosciences, Inc. (NASDAQ: KLTO), currently valued at $52 million by market capitalization, has raised over $11 million through the exercise of existing warrants by investors over the past ten days, according to a press release statement issued Monday. According to InvestingPro data, the stock has shown significant volatility, with a 260% gain over the past six months despite a recent 12% decline last week.
The biogenetics company reported that Chardan Capital Markets served as the exclusive financial advisor for the public warrant exercises that generated the proceeds.
Klotho utilized $3.1 million of the funds to fully extinguish all outstanding debt, resulting in a debt-free balance sheet.
The company stated it now believes it exceeds the stockholders’ equity thresholds required to maintain compliance with NASDAQ listing requirements. This addresses concerns outlined in its previous NASDAQ compliance plan.
Klotho Neurosciences focuses on developing cell and gene therapies using a patented form of the human Klotho gene for treating neurodegenerative and age-related disorders including ALS, Alzheimer’s, and Parkinson’s disease.
The company’s current portfolio includes proprietary cell and gene therapy programs that use DNA and RNA as therapeutics, along with genomics-based diagnostic assays.
In other recent news, Klotho Neurosciences, Inc. has announced a definitive agreement to acquire SB Security Holdings, LLC, a subsidiary of SkyBell Technologies, Inc. This acquisition involves issuing new shares representing 90% of Klotho’s post-deal common stock to SkyBell. The transaction is contingent upon several conditions, including shareholder approval and Nasdaq clearance, with a target completion date of August 13, 2025. Additionally, Klotho Neurosciences is facing a potential delisting from the Nasdaq Stock Market due to non-compliance with listing requirements. The company received a notice on April 15, 2025, regarding non-compliance with the minimum bid price rule, but was granted an extension until August 13, 2025, to meet the requirements. Klotho has also amended the terms of its April 2022 Public Warrant, temporarily reducing the exercise price to $1.35. This amendment aims to encourage warrant holders to exercise their warrants during a specified ten-day period. The company recently corrected a misstatement regarding a stock purchase agreement, clarifying that it sold 6,250,000 shares for a total of $500,000.
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