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In the near term maybe. No way the NIH alone will keep this company afloat until new results are out.
If the price stays at $1 we're looking at 20 million more shares and 20 million more warrants bringing the total to 50 million shares & warrants.
With or without NIH grants, I very much doubt they will have enough to make it through 2022 without raising more money.
Maybe they have enough for 2020, but I'm almost certain they'll need to raise more in 2021, probably after they're approved for OTCQB listing.
Gained a lot more confidence in Dr. Tuchman from this one call than what I had for Dr. Ryan during his entire tenure.
Nice to hear them talk more about the science this time around. 20 out of 100 patients enrolled so far and in talks with other institutions to start pursuing Parkinsons, MS and autism.
Also interesting to hear about ATHA pursuing a similar strategy and being valued at $1 billion.
Might wanna check with them if they support trading pink sheets. It could take a while before the stock is upgraded to OTCQB.
Reminds me of Bryologyx now that I think about it, and while it does feel like an improvement over Neurotrope, I'm still a bit suspicious about why they had to change the name.
I'm also disappointed to see that Mr. Silverman is still chairman of the board. At least Dr. Ryan is now gone.
Pink sheets are basically the wild west of stocks, except instead of cowboys and cheesy catchphrases you get a wasteland of dysfunctional companies and P&D schemes
Most brokers don't bother with that stuff considering how much of a headache it brings them
Nevermind, it just dropped to $0.80 lol
If they raise another $20 million at $1 per share and end up at a $20 million valuation then you're looking at a future share price of $0.80.
Not very good if you buy in at current prices.
Why would they change it though? It's not even listed on the OTCQB:
https://www.otcmarkets.com/stock/SNPX/overview
Strange. Looks like they changed the name yesterday:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1513856/000110465920132905/tm2037845d1_8k.htm
"On December 7, 2020, Neurotrope Bioscience filed an amended and restated certificate of incorporation which, among other things, changed its name to Synaptogenix, Inc. (“Synaptogenix”). Neurotrope expects that the Synaptogenix common stock will be quoted on the OTCQB market of the OTC Markets Group, Inc. under a symbol that is yet to be determined."
Looks like the shares have been distributed but haven't been approved for listing yet, hence the lack of a ticker. I'm guessing the random numbers that popped up on your screen are the ISIN/CUSIP code for the shares.
1 for 5 reverse split happened for both companies.
24M NTRP shares were converted into 4.8M PTPI shares and 4.8M NBI shares, and Metuchen shares were converted into 4.9M PTPI shares, bringing the total amount of PTPI shares to around 9.7M.
That means PTPI is worth about $32 million at current prices.
SEC filings can be found here: https://www.sec.gov/cgi-bin/browse-edgar?CIK=1815903
NTRP is no more:
https://www.prnewswire.com/news-releases/neurotrope-and-metuchen-pharmaceuticals-announce-completion-of-merger-forming-petros-pharmaceuticals-301183662.html
NBI should start trading on Monday.
You're not missing anything. Most of the cash stays with Petros so most of the stock price will probably stay there too.
Remember that both companies will reverse split before listing, so the combined price of both stocks need to add up to around $6 for this deal to be worth it.
New exchange ratio:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1513856/000110465920128898/tm2037046d1_8k.htm
1 NBI share and 1 Petros share for every 5 NTRP shares
You should take a look at the balance sheets then.
Both companies will run out of money next year and will need to dilute existing shareholders to stay alive.
Just because the science looks promising doesn't mean the shares are worth holding now. Maybe that will change in a year or two when we get closer to new results.
Thanks for posting. Worth mentioning is that they repaired brain damage in mice, not humans.
I think previous studies where they show damage repair in human brain cells are far more impressive compared to the vast amount of drugs that can cure Mouseheimers but don't work in clinical trials
BIIB just had their AD drug rejected by the FDA, AVXL dropped 30% after yet another disappointing presentation that didn't include any mentions of placebo controls or meaningful improvement in patients, and NTRP will split in half and run out of money before the next trial is finished unless they raise more money and dilute existing shareholders.
Better to stay far away from this space for the next year or two while there's nothing meaningful on the horizon in the short-term.
Glad to see the FDA is doing what it's supposed to.
They failed to slow the decline in MCI patients and then tried passing it off as an Alzheimer's cure. Who knows how much money would've been wasted on this if it had been approved.
Hopefully the world can now move on from the amyloid hypothesis and focus on actually reversing the brain damage instead.
New patent grant:
https://patents.justia.com/patent/10821079
Expires 2032.
Looks like they changed the record date again:
https://www.sec.gov/Archives/edgar/data/1571934/000110465920119650/tm2024584-6_s1a.htm
"Every five shares of Neurotrope’s common stock outstanding as of 5:00 p.m., New York City time, on a date to be determined and announced promptly following the special meeting of the stockholders of Neurotrope that is expected to be held on November 25, 2020 (the “Record Date”), will entitle the holder thereof to receive one share of Common Stock, every holder of Neurotrope’s preferred stock will be entitled to receive one share of Common Stock for every five shares of Neurotrope’s common stock issuable upon conversion of the Neurotrope shares of preferred stock held as of the Record Date, holders of certain Neurotrope Warrants that are entitled to participate in the Spin-Off pursuant to the terms thereof will receive one share of Common Stock for every five shares of Neurotrope common stock issuable upon exercise of their Neurotrope Warrants held as of the Record Date, and the holders of Neurotrope Warrants that elected to receive Spin-Off Warrants will receive corresponding Spin-Off Warrants exercisable for one share of Common Stock for every five shares of Neurotrope common stock issuable upon exercise of their Neurotrope Warrants held as of the Record Date."
They can always just list Petros on OTC markets or do a reverse split to get Nasdaq listing.
Like many others I'm staying away from this company until this mess has been sorted out.
If you had read the filings you would know that the $NTRP ticker has nothing to do with Neurotrope's business as of September 29 (assuming the merger is approved).
If you buy $NTRP shares today you're basically buying into 49% of Petros, which is just a continuation of the Metuchen business.
They're targeting toxic oligomers? Seems to me like another case of what Biogen is trying with aducanumab.
Synthetic versions don't need a phase 1. They just need to prove bioequivalence.
Thanks, that's what I suspected. This company has its flaws, but when I look at the papers I can't think of any other company that is trying to actually reverse the damage.
"BryoLogyx Announces Completion of World’s First GMP Synthesis of Bryostatin-1"
https://bryologyx.com/wp-content/uploads/2020.10.13-Business_Wire.pdf
What companies would you say have a shot at solving AD eventually? And I don't mean getting a drug to market that fixes symptoms, because there's plenty of those already, but which ones do you think have a legitimate shot at reversing the decline?
One way to look at it is that selling the Petros shares will give you the money you need to buy back your original percentage of the company after the next offering.
Now you have the same piece of the pie as before and the spin-off has another $20 million to finish the trial with.
Maybe he's been selling it all after the record date so he can reinvest it in the next offering for NBI.
You never know.
Latest filing also includes who the 34% are that promised to vote for the merger:
"
Certain Neurotrope Stockholders holding approximately 34% of the outstanding Neurotrope Common Stock are party to voting agreements with Metuchen pursuant to which, among other things, each of such stockholders agreed, solely in their capacity as a Neurotrope Stockholder, to vote all of their shares of Neurotrope Common Stock held by them as of the Record Date in favor of the approval of the transactions contemplated by the Merger Agreement and against any actions that could adversely affect the consummation of the Mergers. The parties to these voting agreements are:
• George W. Haywood
• Shay Capital LLC
• Clyde and LeAnn McGregor JTTN
• Clyde S. McGregor & LeAnn P. Pope Revocable Trust 10/22/16
• Carling Seguso IRA
• Dane and Carling Shea
• Robert Seguso
• Intracoastal Capital, LLC
• Iroquois Master Fund Ltd.
• Clayton A. Struve
• Empire Group Ltd.
• The Peierls Family Trusts
• E. Jeffrey Peirels
• The Peierls Foundation
• Brian E. Peierls
"
You can always sell your shares before any offering and buy in after it's done. New trial results won't be out for another 2 years so you have plenty of time to wait before coming back for round 3.
What you can also do is participate in the offering and receive warrants on top of the shares you buy.
Record date for distribution is mentioned in proposal 2 of the prospectus:
"At the Special Meeting, Neurotrope will ask its stockholders:
2. To consider and approve the Spin-Off whereby (i) any cash in excess of $20,000,000, subject to adjustment as provided for in the Merger Agreement, and all of the operating assets and liabilities of Neurotrope not retained by Neurotrope in connection with the Mergers will be contributed to a wholly-owned subsidiary of Neurotrope (“Neurotrope SpinCo”), and (ii) holders of record of Neurotrope Common Stock and certain warrants on September 29, 2020 will receive a pro rata distribution of one share of Neurotrope SpinCo’s common stock for each share of Neurotrope Common Stock held or underlying certain warrants held at the close of business on September 29, 2020, contingent upon the consummation of the Mergers. The proceeds of any warrant exercises occurring between the signing of the Merger Agreement and the consummation of the Merger will be split 80% to Petros and 20% to the spun-off entity, subject to adjustment as provided in the Merger Agreement."
As for the reverse split, you're not technically losing anything. Owning 5 shares out of 24 million is basically the same as owning 1 share out of 4.8 million.
Yes, it's preliminary. I don't see a reason for why they would change it though.
Record date for the distribution seems to be September 29 so all trading since then is for shares that convert into equal amounts of Petros shares with no rights to NBI shares.
They do still have the right to amend the agreement again, but judging by the insider buying I'd say this is it.
NBI would then have about 4.8 million outstanding shares, so if we assume it's valued at 20 million we're looking at a new share price of $4.
Current Petros valuation would then be about 54 million based on last closing price.
"Every five shares of Neurotrope’s common stock outstanding as of 5:00 p.m., New York City time, on [], 2020, the record date for the Spin-Off (the “Record Date”), will entitle the holder thereof to receive one share of Common Stock and the holders of Neurotrope Warrants that choose to receive Spin-Off Warrants will receive corresponding Spin-Off Warrants exercisable into a number of shares of Common Stock based on the same ratio used to determine the number of shares of Common Stock that common stockholders of Neurotrope will receive in the Spin-Off. The Distribution will be made in book-entry form by a distribution agent. Fractional shares of Common Stock will not be distributed in the Spin-Off and the Spin-Off Warrants will be rounded up to the nearest whole number. The distribution agent will aggregate fractional shares into whole shares, sell the whole shares in the open market at prevailing market prices and distribute the aggregate cash proceeds of the sales, net of brokerage fees and other costs, pro rata to each holder (net of any required withholding for taxes applicable to each holder) who would otherwise have been entitled to receive a fractional share in the distribution."
Page 2.
Looks like the reverse split I speculated about is already included in this deal:
https://www.sec.gov/Archives/edgar/data/1571934/000110465920113989/tm2024584-3_s1.htm
This would mean you get 5 Petros shares and 1 spin-off share for every 5 shares you own before the merger.
Phase 1 trials are for dose-ranging and safety.
https://en.wikipedia.org/wiki/Phases_of_clinical_research
Safety has already been established though so my guess is new indications start out with a P2a.