Daiichi Sankyo and Merck report phase 2 trial results for lung cancer drug
Telomir Pharmaceuticals , Inc. (NASDAQ:TELO) completed the sale of 1,550,000 shares of its common stock to institutional investors through block sales at an average price of $1.87 per share. The transaction, finalized on August 28, generated approximately $2.9 million in gross proceeds before fees and expenses. The company’s common stock is listed on The Nasdaq Stock Market LLC.
The shares were sold via Telomir’s at-the-market equity offering facility, with Rodman & Renshaw facilitating the trades using the StockBlock platform. According to the company’s statement in the press release, the offering was executed at a premium to the prior day’s closing price and did not include any warrants.
Telomir Pharmaceuticals is incorporated in Florida and operates in the pharmaceutical preparations sector. The company is classified as an emerging growth company under SEC regulations. Based on InvestingPro Fair Value analysis, the stock appears to be overvalued at current levels.
This information is based on a press release statement contained in a recent SEC filing.
In other recent news, Telomir Pharmaceuticals Inc. has announced several promising developments regarding its lead drug candidate, Telomir-1. The company reported new in vitro results showing that Telomir-1 can inhibit the enzyme UTX, which is involved in cancer and aging. Additionally, Telomir-1 has demonstrated the ability to block three key histone demethylase enzymes—JMJD3, FBXL10, and FBXL11—implicated in tumor progression, immune response, and neuroinflammation. In preclinical studies, Telomir-1 also restored mitochondrial function in cells from a patient with Hutchinson-Gilford Progeria Syndrome, a rare genetic disorder, without causing oxidative stress or cell proliferation. Furthermore, Telomir Pharmaceuticals released data indicating that Telomir-1 outperformed established cancer treatments by reversing epigenetic gene silencing in aggressive prostate cancer cells. This compound showed superior efficacy compared to Paclitaxel and Rapamycin in a mouse model. These recent developments have generated significant interest in Telomir Pharmaceuticals.
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