- Shares of Kalytera Therapeutics, Inc. have resumed trading on the TSXV
- Pending TSXV approval, the company will change its name to Claritas Pharmaceuticals, Inc.
- Shareholders will receive letters of transmittal from the company’s transfer agent
- Shareholders holding shares in electronic form need not take any action
- The company intends to focus on the development of its proprietary drug, R-107, for the treatment of vaccine-resistant strains of COVID-19
- Kalytera Therapeutics (KLY) is up 60 per cent, trading at C$.04 per share at 12:50 pm EST
Kalytera Therapeutics, Inc. (KLY) announced that its shares will resume trading today on the TSXV.
The company also announced that, pending TSXV approval, it will change its name to Claritas Pharmaceuticals, Inc.
The company’s ticker symbol will change as a result of the name change, and the new ticker symbol will be announced when the new name and the new symbol have been approved by the TSXV.
Shareholders will receive letters of transmittal from the company’s transfer agent which can be used to exchange their current share certificates for certificates with the company’s new name. Shareholders holding shares in electronic form need not take any action. All shareholders should refer to the letter of transmittal and instructions from their broker/dealer.
The renamed company intends to focus on the development of its proprietary drug, R-107, for the treatment of vaccine-resistant strains of COVID-19 as well as other viral infections.
R-107 is a nitric oxide releasing molecule designed to treat vaccine-resistant COVID-19 infection as well as the viruses that cause influenza and the common cold.
“Claritas will develop R-107 as a therapy for coronavirus and COVID-19 infection, as well as a broad-spectrum antiviral drug for the treatment of, and possible prevention of, other viral infections,” stated Robert Farrell, President and CEO of Claritas.
“R-107 is a nitric oxide-releasing compound. There is an extensive body of data demonstrating the ability of nitric oxide to prevent the replication and transmission of various of RNA viruses, such as those that cause COVID-19 infection, as well as viruses that cause influenza and the common cold.”
Mr. Farrell continued,
“Unlike nitric oxide, which is a gas that must be administered by a trained respiratory therapists using special delivery equipment, R-107 is a liquid that can be easily administered orally in a capsule, or nasally though use of a nasal spray, or by a single intramuscular injection.
Due to its ease of administration, R-107 may overcome the challenges inherent in administration of nitric oxide gas, and transform nitric oxide therapy into a potentially best-of-care treatment for coronavirus and COVID-19 infection, and potentially other viral infections as well.”
Claritas Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company focused on developing and commercializing therapies for patients with significant unmet medical needs.
Kalytera Therapeutics (KLY) is up 60 per cent, trading at C$.04 per share at 12:50 pm EST.
