other material
confidence high
sentiment positive
materiality 0.55
TNF Pharma raises $600k via private placement at 20% premium; CRO partner engaged
Q/C TECHNOLOGIES, INC.
- Sold 283,019 shares at $2.12/share (120% of 30-day VWAP) to Prevail Partners, gross proceeds $600k.
- Proceeds for working capital; may be used to pay Prevail InfoWorks invoices under an August 2024 services agreement.
- Prevail InfoWorks engaged as CRO for upcoming Phase 2 sarcopenia/frailty study of MYMD-1 TNFα inhibitor.
- Press release states company is fully funded for clinical trials for next two years.
- MYMD-1 previously met primary endpoints in a small Phase 2 sarcopenia study (2023) reducing chronic inflammatory markers.