Virios Therapeutics terminates at-the-market sales agreement with JonesTrading

Dogwood Therapeutics, Inc.

Sales agreement terminated effective Sept 28, 2023; no sales since Aug 9, 2023; up to $6.7M capacity.
Company faces no termination penalties.
Focus shifts to operational priorities: second Long-COVID study of IMC-2, non-dilutive funding, FDA meeting.
CEO Greg Duncan cites current market conditions as rationale.
Pre-IND meeting planned with FDA for IMC-2 in Long-COVID and fatigue disorders.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Dogwood Therapeutics, Inc. terminated Capital on Demand Sales Agreement with JonesTrading Institutional Services LLC valued at up to $6,700,000 (effective 2023-09-28).

Action: termination
Agreement: atm program
Counterparty: JonesTrading Institutional Services LLC
Value: up to $6,700,000
Effective: 2023-09-28

Exact text from the filing

On September 18, 2023, Virios Therapeutics, Inc. (the “Company”) provided notice of its termination, effective September 28, 2023, of the Capital on Demand Sales AgreementTM, dated July 14, 2023 (the “Sales Agreement”), by and between the Company and JonesTrading Institutional Services LLC (“JonesTrading”).

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Dogwood Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-015838

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