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ZyVersa Therapeutics, Inc. (OTCQB:ZVSA) announced Monday that its common stock has been approved for quotation on the OTCQB Venture Market. The company stated that trading is expected to begin at the open of trading on Monday under its current symbol, ZVSA. The stock, currently trading at $0.27, has shown remarkable momentum with a 92% surge over the past week, according to InvestingPro data.
The notification of approval was received from OTC Markets Group on Friday. ZyVersa Therapeutics is incorporated in Delaware and is engaged in pharmaceutical preparations. With a market capitalization of $1.32 million and significant price volatility, InvestingPro analysis reveals 12 additional key investment signals for this stock.
The company’s principal executive offices are located in Weston, Florida. According to the press release statement, ZyVersa’s common stock will continue to have a par value of $0.0001 per share.
No additional financial information or changes to company operations were disclosed in the filing. This information is based on a statement included in a filing with the Securities and Exchange Commission.
In other recent news, ZyVersa Therapeutics has secured $12 million in financing to support its research and development programs for kidney and inflammatory diseases. The financing includes a $2 million warrant inducement transaction and a Share Purchase Agreement with Williamsburg Venture Holdings for up to $10 million. Additionally, ZyVersa has entered into a share purchase agreement with Williamsburg Venture Holdings, allowing the sale of up to $10 million worth of common stock over 24 months. The company has also received FDA authorization for Emergency Compassionate Use of its investigational drug VAR 200 in a patient with an ultra-rare kidney condition, ApoCII amyloidosis. Furthermore, ZyVersa has begun patient recruitment for a Phase 2a study of VAR 200 as a potential treatment for diabetic kidney disease. However, ZyVersa announced it will be delisted from the Nasdaq Capital Market due to noncompliance with the minimum bid price requirement, and its securities will move to the OTC market. These developments highlight ZyVersa’s ongoing efforts in advancing its kidney disease treatments amidst financial and regulatory challenges.
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