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Claritas Pharmaceuticals has entered into a two-year agreement with Alumina Partners for up to $5 million in equity financing. This funding will primarily support the Phase 1 clinical study of R-107, expected to conclude in Q1 2022, as well as future Phase 2a studies for pulmonary arterial hypertension (PAH) and persistent pulmonary hypertension of the newborn (PPHN). The financing structure aims to minimize shareholder dilution by allowing the company to draw funds as needed, at a discount from market prices. Claritas will also pursue additional funding from BARDA for R-107's COVID-related applications.
Claritas Pharmaceuticals (KALTF, CLAS.V) announced its development strategy for R-107, a nitric oxide-releasing compound, targeting multiple clinical indications. Key milestones include a Phase 1 clinical study set for completion in Q1 2022, followed by several Phase 2 studies later in the year. R-107 shows promise for treating COVID-related sepsis, ARDS, PAH, and PPHN, with potential grant funding to support these trials. The global market for sepsis treatment is projected to grow from $600 million in 2020 to $1.6 billion by 2031. R-107 may also target skin ulcers and wound healing.
Claritas Pharmaceuticals (KALTF, CLAS.V) announced the development of R-107, targeting persistent pulmonary hypertension of the newborn (PPHN). This condition affects 1 in 500 live births, leading to severe outcomes including death and long-term impairments. R-107 aims to outperform the current treatment, inhaled nitric oxide (iNO), which is ineffective for nearly 50% of patients due to iNO resistance. Claritas intends to initiate a Phase 2 study by the end of 2022, focusing on R-107's dual action as a nitric oxide releaser and oxidant degrader, potentially positioning it as a new frontline therapy.
Claritas Pharmaceuticals has announced a License Amendment granting exclusive global rights to develop R-107 for treating pulmonary diseases, including pulmonary arterial hypertension (PAH) and persistent pulmonary hypertension of the newborn (PPHN). The company expects to launch a Phase 2a study for PAH by Q3 2022. The market for PAH treatments is currently over $6 billion annually, projected to increase to $9.8 billion by 2027. R-107 shows significant promise in reversing PAH in animal models, which could position it as a best-in-class therapy.
Claritas Pharmaceuticals has announced the initiation of Phase 2 clinical testing for R-107, a nitric oxide-releasing compound, for the treatment of COVID-related sepsis, following a successful Phase 1 study. A peer-reviewed article in Scientific Reports highlights that R-107 significantly preserved multi-organ function and reduced mortality in a sheep model of sepsis. The global sepsis treatment market is valued at over USD $600 million and expected to reach USD $1.6 billion by 2031. Claritas plans to apply for grant funding to support further studies.
Claritas Pharmaceuticals, Inc. (OTC: KALTF, TSX VENTURE: CLAS) announced a change in its Phase 1 clinical study of R-107 due to delays at CMAX Clinical Research. The company has terminated its agreement with CMAX and signed a new contract with Scientia Clinical Research in Sydney, Australia, which has the requisite expertise to complete the study by the end of Q1 2022. The decision was influenced by the Australian Taxation Office's R&D rebate program. Following the Phase 1 completion, Claritas plans to launch a Phase 2a study targeting pulmonary arterial hypertension (PAH) and seek U.S. grant funding for COVID-related lung disease development.
Claritas Pharmaceuticals has engaged B. Riley Securities as its exclusive capital markets advisor for an upcoming up-listing to the OTCQB. This strategic move aims to enhance visibility, liquidity, and access to U.S. institutional and retail investors. The OTCQB is recognized for its compliance and quality standards, making it a valuable platform for trading decisions. Claritas is focused on developing therapies for significant unmet medical needs, including R-107 for COVID-related lung disease and pulmonary arterial hypertension.
Claritas Pharmaceuticals has successfully closed the first tranche of a private placement offering of convertible debentures, raising net proceeds of USD $930,000. The total proceeds amount to approximately CAD $1,247,000, intended primarily for the Phase 1 clinical study of R-107 and general corporate needs. Future tranches may provide additional funding of USD $750,000 and USD $1,250,000, respectively. The company aims to complete the Phase 1 study by Q1 next year and plans further clinical exploration for R-107 related to pulmonary arterial hypertension and COVID-19 sepsis.
Claritas Pharmaceuticals announced a binding Letter of Intent with Biozeus Biopharmaceuticals to acquire exclusive rights to develop and commercialize BZ371B, a novel treatment for ARDS related to COVID-19. The global ARDS treatment market is projected to reach $934.8 million by 2026. BZ371B is currently in a clinical study, showing positive results in reducing disease severity among intubated patients. Claritas aims to establish itself as a leader in nitric oxide pharmaceuticals with this acquisition, pending regulatory approvals.
