TapImmune Inc. (OTCMKTS:TPIV), a leading clinical stage cancer immunotherapy entity has announced an agreement for near-term capital infusion. As per the reports, it has signed the agreement with its institutional investors in which the latter will have the option to use short-term warrants to provide up to $4.9 million near-term funding to the company.
Under the revised terms and subject to a few specific market conditions, Taplmmune Inc. may also call additional warrants that can lead to a larger funding for Phase 2 initiatives in the future.
Road So Far:
Recently, the company finished Folate Receptor Alpha trial and announced positive phase 1 clinical data concerning triple negative ovarian and breast cancer. With the help of this trial, it came to know that the experimental therapy was harmless, well-tolerated, safe and provided an excellent immune response.
The data received from the HER2Neu Phase 1 trial, and Folate Receptor Alpha trial are up to the expectations. The company is also expecting further results from Her2neu breast cancer Phase 1 trial in the near future. The infusion of additional capital by exercising Series B and Series C warrants will enable the company to finish the planned Phase 2 trial without any hassle.
Dr. Glynn Wilson of Taplmmune Inc. states that the company progressed through a series of warrants early this year; hence, the funding received by the company earlier was used accordingly. As the company looks forward to restructuring the warrants, it hopes that additional capital to carry out phase 2 programs won’t be an issue at all.
Earlier, TapImmune Inc. (OTCMKTS:TPIV) participated in 2015 ASCO Annual Meeting and was accompanied by Mayo clinical team. During this meeting, it submitted the data received from phase 1 trial. Things have somehow fallen in line so far, and the company hopes that they will improve in the future.