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SeeThruEquity Issues Company Update on TapImmune
Accesswire
10 minutes ago
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NEW YORK, NY / ACCESSWIRE / October 20, 2016 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has issued an update note on TapImmune Inc. (TPIV).

The note is available here: TPIV Update Note.

Highlights of the note are as follows:

Recent financings clean balance sheet, fund Phase 2 studies

On September 6, 2016, TPIV recently provided a detailed update for investors, which left us feeling confident that the company will be able to fund the four key Phase 2 studies for its lead candidate, TPIV 200 for therapeutic treatment of breast cancer and ovarian cancer. As we had noted in past coverage of the company, its warrants represented a meaningful source of financing, and TPIV raised $6mn from warrant exercises, as well as $3mn from a private placement. In conjunction with the cash on hand at 2Q16, we estimate an adjusted cash balance of $12.8mn, and also note that the company's 280-patient clinical trial of TPIV 200 for breast cancer with the Mayo Clinic is funded by a $13.3mn grant from the Department of Defense.

Corporate actions set the stage for possible Nasdaq CM listing

On September 16, 2016, TPIV completed a 1:12 reverse stock split, which reduced shares outstanding to approximately 8.4mn. The intention for the move is to ensure that TPIV meets the minimum bid requirements for approval of its application to uplist shares to the Nasdaq CM. In addition to the $9mn capital raise and reverse split, TPIV also was able to purge a significant derivative liability from its balance sheet through a warrant restructuring. Following this restructuring and the reverse split, the potential dilution should the company's options, warrants and other convertible instruments be exercised now stands at 5.6mn shares.

CFO, COO hires augment management team

TPIV has also announced notable additions to its management team since our last update on the company, including appointing Dr. John Bonfiglio as President and Chief Operating Officer, and Michael J. Loiacono as Chief Financial Officer, Chief Accounting Officer, and Corporate Secretary. Both moves bring significant experience to TPIV as the company moves towards a critical phase in its clinical program and a potential listing on the Nasdaq CM. We have included their full bios at the conclusion of this report.

Price target of $15.00 for TPIV

TPIV continues to make substantial progress on corporate and clinical fronts, and we see several key events ahead in coming months including data from Phase 2 trials, and a decision on the company's application to list shares on the NASDAQ CM. We are updating our price target at this time for TPIV to reflect the current share count and warrants outstanding, which is higher than our original valuation.

Please review important disclosures on our website at www.seethruequity.com.

About TapImmune Inc.

TapImmune Inc. is an immunotherapy company specializing in the development of innovative technologies for the treatment of cancer, including metastasis, and infectious disease. The Company's peptide or nucleic acid-based immunotherapeutics comprise one or multiple naturally processed epitopes (NPEs) designed to comprehensively stimulate a patient's killer T-cells, helper T-cells and to restore or further augment antigen presentation by using proprietary nucleic acid-based expression systems. The Company's technologies may be used as stand-alone medications or in combination with current treatment modalities. Please visit the Company's website at http://www.tapimmune.com for details.

About SeeThruEquity

SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. The company does not conduct any investment banking or commission based business. SeeThruEquity is approved to contribute its research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute its research to its database of opt-in investors. The company also contributes its estimates to Thomson Estimates, the leading estimates platform on Wall Street.

For more information visit www.seethruequity.com.

Contact:

Ajay Tandon
SeeThruEquity
[e-mail]