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CohBar, Inc. (NASDAQ: CWBR) reported its Q3 2022 financial results, highlighting a net loss of $2.4 million, or $0.82 per share, improving from a $3.4 million loss in Q3 2021. Cash reserves stood at $18.3 million, down from $26.2 million at year-end 2021, with a quarterly cash burn of approximately $1.9 million. Key developments included the ongoing formulation work for CB5138-3 aimed at idiopathic pulmonary fibrosis (IPF) and the successful completion of a 1-for-30 reverse stock split to comply with Nasdaq requirements. The company appointed Dr. Effie Tozzo to its board, enhancing its strategic expertise.
CohBar, Inc. (NASDAQ: CWBR) will release its 2022 Q3 financial results on November 8, 2022, after market close. The company's management will host a conference call at 5:00 p.m. ET to discuss the results and provide business updates. CohBar is focused on developing therapeutics for chronic and age-related diseases through its innovative Mito+ platform. They plan to file an IND for clinical candidate CB5138-3 targeting idiopathic pulmonary fibrosis in the second half of 2023. The company previously showcased clinical proof of concept for CB4211 for NASH and obesity.
CohBar, Inc. (NASDAQ: CWBR) announced a 1-for-30 reverse stock split effective September 23, 2022, to comply with Nasdaq's $1.00 minimum bid price requirement. This decision follows stockholder approval at the June 15, 2022, Annual Meeting. As a result, every 30 shares will convert into one share, with cash payments for any fractional shares. The company also increased the number of authorized shares to approximately 12,000,000. The reverse stock split will apply uniformly across all stockholders, impacting outstanding stock options and warrants proportionately.
CohBar, Inc. (NASDAQ: CWBR), a clinical-stage biotechnology firm, announced its CEO, Dr. Joseph Sarret, will present at the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. The presentation will detail CohBar's innovative approach to developing therapeutics targeting chronic and age-related diseases using mitochondrial peptides. A replay of the webcast will be accessible on the company's website for two weeks following the event. CohBar aims to file an IND for its second clinical candidate by late 2023, focusing initially on idiopathic pulmonary fibrosis.
CohBar, Inc. (NASDAQ: CWBR) reported its Q2 2022 financial results and business progress on August 15, 2022. The company is on track to file an Investigational New Drug (IND) application for its lead program, CB5138-3, targeting Idiopathic Pulmonary Fibrosis (IPF) in H2 2023. CohBar strengthened its IPF program with expanded patent coverage for CB4211 and appointed Dr. Effie Tozzo to its board. The company’s cash reserves stand at $20.1 million as of June 30, 2022, down from $26.2 million. R&D and G&A expenses decreased, contributing to a net loss of $2.7 million, or $0.03 per share.