Cyclo Therapeutics closes AMT merger, cash runway extended into 2H

Cyclo Therapeutics (CYTH) and Applied Molecular Transport (AMTI) announced the closing of its previously announced transaction pursuant to which AMT will merge with Cyclo Therapeutics in an all-stock transaction. The combined company will now operate under the name “Cyclo Therapeutics, .” and will continue trading on The Nasdaq Capital Market under the ticker symbol “CYTH”. Cyclo Therapeutics’ primary focus will continue to be on advancing its pivotal Phase 3 global study or transportNPC evaluating Trappsol Cyclo for Niemann-Pick Disease Type C1 NPC1. “The completion of this merger with Applied Molecular Transport represents a significant milestone and bolsters our confidence and excitement for the future of Cyclo Therapeutics. With the merger now closed and following our recent positive Type C meeting with the FDA, fundamentally the Company has never been stronger,” commented N. Scott Fine, CEO of Cyclo Therapeutics…The compny noted that: cash runway extended into 2H 2024 with approximately $11M cash on hand to fund operations “Moving forward, we are focused on completing our Phase 3 study and executing on the regulatory submission process, assuming a successful outcome in our pivotal study. We remain dedicated to providing a much-needed treatment option for NPC patients.” The combined company will be led by the existing Cyclo Therapeutics management team and will be headquartered in Gainesville, FL. Subsequent to the closing of the transaction, Shawn Cross, Chief Executive Officer and Board Chair of AMT has been appointed to the Cyclo Therapeutics Board of Directors.