CTT Pharma Gives Update On NSF Grant
Rhea-AI Summary
CTT Pharmaceutical Holdings (OTC:CTTH) has advanced past the initial round in its application for a National Science Foundation (NSF) grant for its patented fast-dissolving nicotine strips. The company is now among a few thousand remaining applicants from an initial pool of over 12,000. CTT expects to receive a response by late April.
The company's technology aims to address a significant public health issue, as cited by WHO statistics showing tobacco kills over 8 million people annually worldwide. According to CDC data, cigarette smoking causes more than 480,000 deaths yearly in the United States, representing nearly 1 in 5 deaths.
CEO Ryan Khouri highlighted that CTT's advancement in the NSF application process demonstrates the potential value of their technology in the tobacco industry. The company notes that there are currently no fast-dissolving, low-dose nicotine strips available in the market.
Positive
- Advanced to final rounds of NSF grant application from over 12,000 initial applicants
- Unique market position with no current competitors in fast-dissolving, low-dose nicotine strips
- Added experienced NSF grant specialist to team
Negative
- No guaranteed approval for NSF grant
- Product still in early development phase without market presence
News Market Reaction 1 Alert
On the day this news was published, CTTH gained 3.52%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TAMPA, FL / ACCESS Newswire / February 12, 2025 / CTT Pharmaceutical Holdings, Inc. (OTC:CTTH) submitted a full proposal to the National Science Foundation(NSF) for our patented fast dissolving nicotine strips. The NSF grant program is highly competitive as it receives over 12,000 applicants annually from companies that have innovations that could help society. CTT successfully made it past the first round process and is among a few thousand remaining applicants. These remaining applicants have several deadlines over the course of the year to file a full proposal into the grant program. CTT is anticipating an answer in this program in late April. Acceptance into this program would give government backing to CTT Pharma and would allow for extensive research and testing to help lead to development of our technology.
The World Health Organization states, "The tobacco epidemic is one of the biggest public health threats the world has ever faced, killing over 8 million people a year around the world. More than 7 million of those deaths are results of direct tobacco use while 1.3 million are the result of non-smokers being exposed to second-hand smoke." Furthermore, the CDC says, "Cigarette smoking is the leading cause of preventable death in the United States. Cigarette smoking causes more than 480,000 deaths each year in the United States. This is nearly 1 in 5 deaths.
The CEO of CTT Pharma, Ryan Khouri stated, "To make it past the first round of applicants is a huge accomplishment by itself and shows that the NSF sees potential value for our technology within the tobacco industry. Currently there are no fast dissolving, low dose nicotine strips on the market, as most oral products stay in the mouth for an excessive amount of time. CTT also brought someone onto our team to help with this NSF Grant as they have a tremendous amount of experience with the NSF."
CTT will continue to update shareholders as more news becomes available.
CTT Pharma - 813-606-0060
SOURCE: CTT Pharmaceutical Holdings, Inc.
View the original press release on ACCESS Newswire
FAQ
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