Relief Hldg Stock Price, News & Analysis

Relief Therapeutics is holding an Extraordinary General Meeting (EGM) for shareholders on December 17, 2020, due to COVID-19 restrictions. Shareholders registered by December 4, 2020, can vote through an independent proxy. Key agenda items include the election of Tom Plitz to the Board of Directors, compensation adjustments for the Board and Executive Committee, and increases in authorized and conditional share capital. These changes aim to enhance the company's flexibility for future financing and development of its lead compound, RLF-100^TM, targeting severe COVID-19 cases.

Relief Therapeutics, in collaboration with NeuroRx, has enrolled 150 patients in a phase 2b/3 trial for RLF-100(TM), targeting respiratory failure in critical COVID-19 cases. The trial aims to assess the drug's effectiveness, with no serious adverse events reported thus far. An earlier study indicated a significant survival advantage linked to RLF-100(TM). Additionally, main shareholder GEM has exercised 500 million warrants, increasing Relief's cash balance to approximately CHF 49.8 million.

Relief Therapeutics Holding AG announced the appointment of Dr. J. Paul Waymack as a development and regulatory consultant to bolster its management team, focusing on the late-stage development of RLF-100^TM for severe COVID-19 patients. Dr. Waymack brings extensive experience in drug development, having previously led Kitov Pharmaceuticals and served in various roles at the U.S. FDA. Relief is currently advancing RLF-100^TM through Phase 2b/3 trials, aiming to offer new therapeutic options for COVID-19, with FDA Emergency Use Authorization granted to treat respiratory failure.

Relief Therapeutics has appointed Jack Weinstein as Chief Financial Officer (CFO) and Treasurer, effective immediately. Weinstein, with over 40 years of experience in biopharmaceutical finance and investment banking, will manage investor engagement and financial strategies. Raghuram Selvaraju, Chairman, expressed confidence in Weinstein's ability to support the company during the crucial development of its lead compound, RLF-100^TM, aimed at treating severe COVID-19 patients. Jeremy Meinen has been promoted to Vice President of Finance and Administration, while Yves Sagot transitions to a consulting role.

Relief Therapeutics announced a capital increase of CHF 17,949,600 via its Share Subscription Facility with GEM Global Yield Fund, boosting its cash reserves to approximately CHF 48 million. These funds will primarily support ongoing clinical trials for RLF-100, aimed at treating COVID-19 patients. The company plans to fund operations through 2022 without relying on future revenue from RLF-100 sales. The total shares outstanding will rise to 2,580,068,581.

On Sept. 23, 2020, NeuroRx submitted a request for Emergency Use Authorization (EUA) to the US FDA for RLF-100™ (aviptadil) to treat critically ill COVID-19 patients. The EUA request is based on a case-control study showing RLF-100 patients had a threefold improvement in survival and recovery compared to standard care. CEO Jonathan Javitt highlighted challenges in equitable access to treatment. The application aims to expedite the availability of RLF-100, which has shown potential in improving respiratory function during the COVID-19 pandemic.

Relief Therapeutics (OTCQB: RLFTF) reported its half-year results for 2020, focusing on its lead compound RLF-100 for severe COVID-19 treatment. The company initiated a US Phase IIb/III trial and received FDA authorization for Emergency Use. Key financials showed a cash balance of TCHF 32,000, with an EBITDA loss of TCHF 1,250, although a significant profit gain of TCHF 8,251 noted due to a reversal of impairment losses. Relief raised CHF 31 million through its Share Subscription Facility to support ongoing clinical trials.

Relief Therapeutics announced the appointment of Gilles Della Corte, M.D. as Chief Medical Officer, effective immediately. Della Corte brings over 40 years of experience in the biopharmaceutical industry, enhancing Relief's leadership as it advances its lead compound, aviptadil, in clinical trials aimed at treating severe COVID-19. The company has also engaged Virtuoso Sarl to manage clinical trials in Europe, while U.S. trials will be managed by NeuroRx. Aviptadil has shown promise in clinical settings and has received Fast Track Designation from the FDA.

Relief Therapeutics successfully up-listed from OTC Pink to OTCQB on August 31, 2020, enhancing its visibility to a broader investor base. This milestone signifies compliance with stringent reporting and verification requirements. Alongside, the company raised funds through a Share Subscription Facility, increasing total shares to approximately 2.53 billion. Relief holds around CHF 32 million in cash, intended for clinical trials of its lead candidate Aviptadil for COVID-19 related conditions. The company aims to target a regulated exchange like NASDAQ in the future.