Thiogenesis Announces Commencement of OTCQX Trading in the U.S.
Rhea-AI Summary
Thiogenesis Therapeutics (TSXV: TTI) (OTCQX: TTIPF) has announced its common shares are now trading on the OTCQX Best Market under the symbol TTIPF. This represents a significant milestone as OTCQX is the highest-level market of OTC Markets, hosting 12,000 U.S. and global securities.
The company has also secured DTC eligibility status, enabling electronic settlement of shares across the United States and 131 other countries. Thiogenesis will maintain its listing on the TSX Venture Exchange under TTI.
Additionally, the company recently received final regulatory clearance to initiate a Phase 2 clinical trial in Europe for the treatment of Mitochondrial Encephalomyopathy with Lactic Acidosis and Stroke-like episodes (MELAS). The trial's commencement is pending completion of administrative procedures and material provision to trial sites.
Positive
- Uplisting to OTCQX Best Market, increasing U.S. investor accessibility
- Obtained DTC eligibility, enabling broader electronic trading access
- Received regulatory clearance for Phase 2 MELAS clinical trial in Europe
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, TTIPF gained 0.70%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
San Diego, California--(Newsfile Corp. - February 12, 2025) - Thiogenesis Therapeutics, Corp. (TSXV: TTI) (OTCQX: TTIPF) ("Thiogenesis" or the "Company") a clinical-stage biotechnology company developing disulfides that drive the production of critically important intracellular antioxidants and other therapeutic compounds, today announced that its common shares are now trading on the OTCQX Best Market under the ticker symbol TTIPF. The OTCQX Best Market is the highest-level market of OTC Markets on which 12,000 U.S. and global securities trade. Trading on OTCQX will enhance the visibility and accessibility of the Company to U.S. investors. Thiogenesis' common shares will continue to trade on the TSX Venture Exchange under the symbol TTI.
Thiogenesis previously announced that it has attained Depository Trust Company ("DTC") eligibility status in the U.S. DTC eligibility allows electronic settlement of the Company's common shares and manages electronic clearing and settlement of publicly traded companies across the United States and in 131 other countries. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com/stock/TTIPF/quote.
On January 27, 2025, Thiogenesis announced that it has received final regulatory clearance required to initiate a Phase 2 clinical trial, in Europe, for the treatment of Mitochondrial Encephalomyopathy with Lactic Acidosis and Stroke-like episodes ("MELAS"). The Company anticipates initiating the Phase 2 clinical trial in MELAS, subject to the completion of supporting administrative procedures and the provision of materials to the trial sites.
About MELAS
Mitochondrial Encephalomyopathy with Lactic Acidosis and Stroke-like episodes ("MELAS") is a rare, inherited mitochondrial disorder, most often caused by a mutation of m.3243A>G in the MT-TL1 gene in mitochondrial DNA. Initial symptoms usually include seizures, vomiting, headaches, muscle weakness, loss of appetite and fatigue. Longer term the disease may cause a loss of motor skills and intellectual disability. MELAS usually presents itself before the age of 20. Oxidative stress and taurine deficiency play an important role in mitochondria and are potential pathological mechanisms of mitochondrial disorders, making for viable targets for the treatment of MELAS and other mitochondrial diseases. MELAS is an orphan disease for which there are no approved drugs.
About Thiogenesis
Thiogenesis Therapeutics, Corp. (TSXV: TTI) (OTCQX: TTIPF) is a clinical-stage biopharmaceutical company operating through its wholly owned subsidiary based in San Diego, CA. Thiogenesis is developing sulfur-containing prodrugs that act as precursors to previously approved thiol compounds, with the potential to treat serious pediatric diseases with unmet medical needs. Prodrugs are drugs that contain previously approved active ingredients and are modified so that they only become active when metabolized. For regulatory purposes prodrugs can use existing third-party safety data in regulatory submissions in the streamlined 505 (b)(2) regulatory pathway in the US, and its equivalent hybrid system in Europe, to proceed into human efficacy trials with regulatory approval. Prodrugs may enhance the profile of the active ingredient to increase its bioavailability and reduce side effects. The Company's initial target indications include Mitochondrial Encephalopathy Lactic Acidosis and Stroke ("MELAS"), Leigh's syndrome, Rett syndrome and pediatric MASH.
For further information, please contact:
Brook Riggins, Director, and CFO
Email: info@thiogenesis.com
Tel.: (888) 223-9165
Forward Looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward- looking statements") within the meaning of Canadian and U.S. securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions, or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange, nor the OTC Markets Group Inc. (OTCQX: OTCM) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240489
FAQ
What does Thiogenesis' (TTIPF) uplisting to OTCQX Best Market mean for investors?
When did Thiogenesis (TTIPF) receive clearance for its Phase 2 MELAS trial?
What is the significance of Thiogenesis (TTIPF) obtaining DTC eligibility?
Where can investors find real-time quotes for Thiogenesis stock (TTIPF)?
