Thiogenesis Announces Grant of Stock Options

Rhea-AI Summary

Thiogenesis Therapeutics (OTCQX: TTIPF), a clinical-stage biotech company focused on developing disulfide-based therapeutics, has announced a stock option grant. The company's board approved 400,000 common share purchase options to two directors on June 11, 2025. The options are exercisable at $0.77 per share, with a vesting schedule of 25% every six months from the grant date. These options will expire on June 11, 2030. The grant was made under the company's Omnibus Equity Incentive Plan.

Positive

• Stock options align directors' interests with shareholders through long-term vesting schedule
• Five-year option term demonstrates long-term commitment to company growth

Negative

• Potential future dilution to shareholders if options are exercised

San Diego, California--(Newsfile Corp. - June 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, announces that pursuant to the terms of the Company's Omnibus Equity Incentive Plan, on June 11, 2025, the Company's board of directors approved a total grant of 400,000 common share purchase options exercisable at $0.77 to two directors of the Company. The common share purchase options vest 25% every six months following the date of grant and expire on June 11, 2030.

About Thiogenesis

Thiogenesis Therapeutics, Corp. (TSXV: TTI) (OTCQX: TTIPF) is a clinical-stage biopharmaceutical company with operations based in San Diego, CA. The Company is publicly traded on the TSX Venture Exchange and in the U.S. on the OTCQX. Thiogenesis is developing sulfur-containing prodrugs that act as precursors to previously approved thiol-active compounds, with the potential to treat serious pediatric diseases with unmet medical needs. Thiogenesis' lead product candidate, TTI-0102 has an active Phase 2 clinical trial in Mitochondrial Encephalopathy Lactic Acidosis and Stroke ("MELAS") and is planning clinical trials in Leigh 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 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/255359

FAQ

What is the exercise price of TTIPF's newly granted stock options?

The stock options granted to two directors of Thiogenesis are exercisable at $0.77 per share.

How many stock options did Thiogenesis (TTIPF) grant to its directors?

Thiogenesis granted a total of 400,000 common share purchase options to two directors.

What is the vesting schedule for Thiogenesis's June 2025 stock options?

The options vest 25% every six months following the grant date of June 11, 2025.

When do the TTIPF stock options granted in June 2025 expire?

The stock options expire on June 11, 2030, five years from the grant date.