Just in case you haven't realized: Today is the last day of FY 2022.
And this notification registered on an 8k on Tuesday
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TYME Technologies, Inc. Announces Exploration of Strategic Options ?March 29 2022 - 06:50AM
TYME Technologies, Inc. (Nasdaq: TYME) (the Company or TYME), an emerging biotechnology company developing cancer metabolism-based therapies (CMBTs™), today announced that its Board of Directors has decided to explore potential strategic options to enhance stockholder value. The Company has engaged Moelis & Company LLC as its financial advisor and Faegre Drinker Biddle & Reath LLP as its legal advisor.
On January 26, 2022, TYME announced the discontinuation of a randomized Phase II/III trial of SM-88 in combination with methoxsalen, phenytoin, and sirolimus (MPS) for patients with metastatic pancreatic cancer upon learning that the trial sponsor terminated the study arm due to futility. Notwithstanding the discontinuation of its most advanced clinical trial, the Company believes there are additional opportunities that could enhance value for TYME stockholders. TYME believes that being well-capitalized affords it the ability to consider a wide range of strategic options and therefore has commenced a formal process with Moelis & Company LLC.
The Strategic Planning Committee of the Board will act as a Transaction Committee and will be led by TYME Board Member Timothy C. Tyson, who possesses over 35 years of biotechnology and pharmaceutical industry experience, including multiple M&A transactions. There can be no assurance that this process will result in any such transaction, and the Company does not intend to disclose additional details unless and until it has entered into a specific transaction.
“The goal of the strategic evaluation process is to ensure that we are exploring a range of possible options to maximize value for our stockholders. With $92 million in cash and marketable securities as of December 31, 2021, we believe that TYME is in a strong position to find an advantageous transaction,” stated Richie Cunningham, Chief Executive Officer of TYME.
TYME continues to evaluate SM-88 in two separate Phase II investigator-sponsored studies in HR+/HER2- breast cancer and sarcoma. A poster presentation from the Phase II OASIS study of SM-88 in patients with HR+/HER2- breast cancer will be presented at the American Association for Cancer Research (AACR) Annual Meeting on April 11, 2022. The Company is also conducting a comprehensive translational preclinical program focused on SM-88 MOA and Biomarker Identification/Validation and has engaged Evotec, a leading global research and development company, to aid in the execution of these activities
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