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Appili Therapeutics Inc. (APLIF) is a biopharmaceutical company dedicated to developing novel treatments to address unmet medical needs. The company focuses on advancing anti-infective drug candidates to combat antibiotic-resistant infections and bioterror threats. Appili's pipeline includes ATI-1701, a promising candidate for preventing tularemia, a serious infectious disease. With a strong emphasis on research and innovation, Appili Therapeutics aims to make a significant impact on global health.
Aditxt (NASDAQ: ADTX) has signed a second amendment to the arrangement agreement with Appili Therapeutics, targeting a September 30, 2024 closing date for the acquisition. The deal involves Aditxt acquiring all issued and outstanding Class A common shares of Appili through a court-approved plan. Key conditions include Aditxt raising at least US$20 million in financing before closing.
Appili has raised over CAD $100 million since 2015 for developing therapeutics in the global infectious disease and biodefense markets. Their portfolio includes LIKMEZ™, an FDA-approved antibiotic suspension, ATI-1701, a tularemia vaccine, and ATI-1801, a topical antiparasitic product. Two programs are potentially eligible for FDA Priority Review Vouchers, subject to legislation renewal.
Appili Therapeutics reported its fiscal year 2024 results, highlighting the FDA approval and commercial launch of LIKMEZ (ATI-1501) for metronidazole oral suspension. The company secured funding from the U.S. Air Force Academy to advance ATI-1701, a biodefense vaccine, and is engaging with regulatory authorities regarding ATI-1801, a topical antiparasitic product.
Financially, Appili experienced a net loss of $3.8 million, an improvement from the $9.2 million loss in the previous year, aided by an increase in government assistance and revenue. The company reported cash reserves of $0.1 million as of March 31, 2024, compared to $2.5 million the prior year, and highlighted a going concern note due to reliance on closing a transaction with Aditxt and other funding.
Appili entered an agreement with Aditxt, where shareholders would receive a combination of cash and stock, contingent on Aditxt raising additional capital. The deal is expected to finalize by Q3 2024.
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