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NEW YORK - Klotho Neurosciences, Inc. (NASDAQ:KLTO), a $50.37 million market cap biotech company whose shares have surged 243% over the past six months, announced on Wednesday that it has formally ended its Share Exchange Agreement with SkyBell Technologies, Inc. through a Termination and Release Agreement signed on June 13, 2025.
The termination eliminates what would have been significant dilution for existing KLTO shareholders, as the original agreement from March 26, 2025, would have resulted in SkyBell owning 90% of the company. Neither company will incur liability as a result of the termination.
"Terminating this agreement allows us to remain focused and build shareholder value while fully concentrating on our core R&D programs," said Dr. Joseph Sinkule, CEO of KLTO.
The biogenetics company stated that the termination enables it to refocus on its core assets and allocate resources toward advancing its primary therapeutic and longevity programs. These include pipeline candidates targeting neurodegenerative and other age-related diseases such as ALS, Alzheimer’s, and Parkinson’s.
Klotho Neurosciences develops cell and gene therapies using a patented form of the "anti-aging" human Klotho gene (s-KL) along with novel gene promoters and delivery systems. The company’s portfolio includes DNA and RNA therapeutics and genomics-based diagnostic assays.
The information in this article is based on a press release statement from Klotho Neurosciences.
In other recent news, Klotho Neurosciences, Inc. has raised over $11 million through the exercise of existing warrants, allowing the company to eliminate all outstanding debt. This financial move addresses concerns related to Nasdaq listing requirements and results in a debt-free balance sheet for the company. Additionally, Klotho Neurosciences has amended the terms of its April 2022 Public Warrant by temporarily reducing the exercise price, encouraging warrant holders to take advantage of this opportunity. The company is also facing the possibility of being delisted from the Nasdaq Stock Market due to non-compliance with listing requirements, but it has been granted an extension until August 13, 2025, to meet specific milestones.
In another significant development, Klotho Neurosciences has announced a definitive agreement to acquire SB Security Holdings, LLC, a subsidiary of SkyBell Technologies, Inc. This acquisition marks Klotho’s entry into the home security market, expanding its business profile beyond its traditional focus. The deal involves issuing new shares representing 90% of Klotho’s post-deal common stock to SkyBell. This transaction is subject to several conditions, including shareholder approval and Nasdaq clearance, with plans to conclude by August 13, 2025. These recent developments reflect a strategic shift for Klotho Neurosciences as it diversifies its portfolio.
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