What is SightPath Biotech LLC and how is it related to ProtoKinetix (PKTX)?

SightPath Biotech LLC is a wholly owned Ohio subsidiary formed by ProtoKinetix on February 11, 2026. Its purpose is to develop the company’s synthetic glycopeptide PKX-001 for dry-eye disease and other ocular indications, while core ophthalmic patents continue to be held by ProtoKinetix itself.

ProtoKinetix names new president, reprices options

ProtoKinetix, Inc. reported several corporate updates.

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Form Type

8-K

Rhea-AI Filing Summary

ProtoKinetix, Inc. reported several corporate updates. Longtime director Edward McDonough resigned from the board, stating his decision was not due to any disagreement with the company. The board then appointed Michael Jones and Jason Lamp as new directors, and named translational scientist Dr. Keith Brunt as both a director and president.

The company formed a wholly owned subsidiary, SightPath Biotech LLC, to develop its PKX-001 synthetic glycopeptide for dry-eye disease and other ocular conditions. Two independent analyses in 2021 and 2025 estimated the present value of related patents and development work at approximately $253 million, reflecting factors such as novel IP, market size, and competitive position.

ProtoKinetix disclosed that it filed Form 12b-25 notices for delayed filing of its 2025 annual report and first-quarter 2026 quarterly report and is working on completing these filings. The board also approved repricing options covering 61,190,000 shares and warrants for 6,000,000 shares from a $0.028 to $0.01 exercise price and extended their expiration dates by two years.

Insights

ProtoKinetix reshapes leadership, creates an eye-disease unit, and reprices large equity awards while catching up on delayed filings.

ProtoKinetix is combining governance changes with a clearer focus on ophthalmology. A longtime director resigned without citing disagreements, while two entrepreneurial shareholders and Dr. Keith Brunt were added to the board, with Brunt also becoming president. His scientific background aligns with the company’s emphasis on translational medicine.

The new subsidiary, SightPath Biotech LLC, is dedicated to developing PKX-001 for dry-eye and other ocular diseases. Two independent studies estimate the present value of relevant patents and associated work at about $253 million, based on intellectual property strength, market size, development stage, competitive differentiation, and scarcity of similar assets. This frames the perceived strategic importance of the ophthalmic pipeline.

The company has filed Form 12b-25 extensions for both its 2025 annual report and Q1 2026 quarterly report, indicating reporting delays, while stating it is working to complete those filings. On the capital structure side, the board significantly lowered the exercise price of options on 61,190,000 shares and warrants on 6,000,000 shares from $0.028 to $0.01 and extended maturities to December 2030. This improves potential value for existing holders of these instruments and may influence future dilution, depending on the company’s overall share base and performance.

8-K Event Classification

3 items: 5.02, 8.01, 9.01

3 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Dry-eye and ophthalmic patent valuation: $253 million Repriced options: 61,190,000 shares at $0.01 exercise price Repriced warrants: 6,000,000 shares at $0.01 exercise price +3 more

6 metrics

Dry-eye and ophthalmic patent valuation $253 million Present value based on 2021 and 2025 independent studies

Repriced options 61,190,000 shares at $0.01 exercise price Exercise price reduced from $0.028; expiry extended to December 6, 2030

Repriced warrants 6,000,000 shares at $0.01 exercise price Issued to an advisor; price cut from $0.028; expiry extended to December 12, 2030

Late 10-K notice Form 12b-25 filed For year ended December 31, 2025, filed on February 11, 2026

Late 10-Q notice Form 12b-25 filed For quarter ended March 31, 2026, filed on May 15, 2026

SightPath formation date February 11, 2026 Wholly owned subsidiary created for PKX-001 ocular development

Key Terms

Form 12b-25, wholly owned subsidiary, synthetic glycopeptide molecule, exercise price, +2 more

6 terms

Form 12b-25 regulatory

"the Company filed a Form 12b-25 Notification of Late Filing of the Company’s Annual Report on Form 10-K"

Form 12b-25 is a notice a publicly traded company files with the U.S. Securities and Exchange Commission when it cannot deliver a required periodic report (like a quarterly or annual financial report) on time. It explains the reason for the delay and gives the company a short, temporary window to finish the report without being marked as delinquent; investors watch it because late filings can signal accounting, operational, or control issues that may affect a company’s reliability and stock risk, much like a missed homework deadline can raise concerns about a student’s preparedness.

wholly owned subsidiary financial

"the Company formed a wholly owned subsidiary, SightPath Biotech LLC, an Ohio limited liability company"

A wholly owned subsidiary is a company whose entire ownership is held by another company (the parent), so the parent controls decisions, operations, and finances. Think of it as a fully controlled branch that runs as its own legal entity but whose results flow straight into the parent’s financial statements; investors watch these structures because they affect consolidated revenue, risk exposure, and how profits, liabilities, and cash flow are allocated across the corporate group.

synthetic glycopeptide molecule technical

"developing the Company’s first-in-class novel synthetic glycopeptide molecule (PKX-001) for the treatment of dry-eye disease"

exercise price financial

"repricing of options for a total of 61,190,000 shares of common stock of the Company from a $0.028 exercise price per share to $0.01 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

warrants financial

"repricing of warrants to exercise 6,000,000 shares of common stock of the Company issued to one of its advisors"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

Translational Scientist technical

"Keith Brunt, a Translational Scientist and Associate Professor of Pharmacology, in the Faculty of Medicine"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What board and management changes did ProtoKinetix (PKTX) announce?

ProtoKinetix reported the resignation of director Edward McDonough and appointed Michael Jones and Jason Lamp as new directors. It also named Dr. Keith Brunt, a translational scientist and academic, as both a director and president, aligning leadership with its scientific and clinical development focus.

How much are ProtoKinetix’s dry-eye and ophthalmic patents valued at?

Two independent studies in 2021 and 2025 estimated the present value of ProtoKinetix’s patents and associated work for dry-eye and other ophthalmic indications at approximately $253 million. The valuation reflects novel intellectual property, target market size, development stage, differentiation, and the scarcity of similar first-in-class assets.

What SEC reporting delays did ProtoKinetix (PKTX) disclose?

ProtoKinetix disclosed filing Form 12b-25 notifications for late submission of its 2025 Form 10-K and its first-quarter 2026 Form 10-Q. The company stated it is working on filing both the annual and quarterly reports, indicating temporary delays in regular SEC financial reporting.

What equity incentive changes did ProtoKinetix approve on June 17, 2026?

On June 17, 2026, the board repriced options covering 61,190,000 common shares from a $0.028 to $0.01 exercise price and extended their expiration to December 6, 2030. It also similarly repriced warrants for 6,000,000 shares, extending their maturity to December 12, 2030.

Did Edward McDonough resign from ProtoKinetix’s board over disagreements?

The company stated that director Edward McDonough’s resignation from the board on March 31, 2026 was not related to any disagreement with ProtoKinetix. It specifically noted there were no issues regarding the company’s operations, policies, or practices underlying his decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

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Accepted by SEC EDGAR 06/17/2026 - 05:28 PM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: March 31, 2026

ProtoKinetix, Incorporated

(Exact name of registrant as specified in its charter)

Nevada

000-32917

94-3355026

State of Incorporation

Commission

File Number

IRS Employer

Identification Number

109 W Main Street,

Dalton, OH 44618

Address of principal executive offices

330-445-4971

Telephone number, including Area Code

_______________________________

Former name or former address if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 31, 2026, Mr. Edward McDonough, after serving many years as a trusted advisor to ProtoKinetix, Incorporated (the “Company”) under the leadership of Clarence E. Smith, notified the Board of Directors of the Company (the “Board”) of his resignation from the Board effective immediately. His decision to resign from the Board was not related to any disagreement with the Company on any matter relating to its operations, policies or practices.

On June 17, 2026, Michael Jones, of Corbin, Kentucky, and Jason Lamp, of Roswell, Georgia were appointed as directors of the Company to serve as members of the Board, and to hold such office until their successors are duly elected and qualified. Mr. Lamp and Mr. Jones are both seasoned entrepreneurs and longtime stockholders of the Company.

On June 17, 2026, Keith Brunt, a Translational Scientist and Associate Professor of Pharmacology, in the Faculty of Medicine at Dalhousie Medicine in New Brunswick, was appointed as a director and as the president of the Company, to hold such office until his successors are duly elected and qualified.

Dr. Keith R. Brunt, age 47, is an Associate Professor of the Department of Pharmacology in the Faculty of Medicine at Dalhousie University; Adjunct Professor in the Faculty of Business at the University of New Brunswick; and a Translational Scientist at the New Brunswick Heart Centre. Dr. Brunt has served as a director and executive on several boards in both non-profit research organizations and for-profit companies, including as a director of Routinify Inc. from 2019-2024, and as the Chair of the Board of Directors of Heart & Stroke Foundation New Brunswick from 2021-2024. Dr. Brunt has extensive experience in the scientific and clinical research fields across several disciplines. As a specialist in translational science and medicine, Dr. Brunt has advanced degrees in Physiology (BSc. Hons.) from the University of Saskatchewan and a PhD in experimental medicine for gene and cell-based therapy from Queen's University in Kingston, ON, and has completed a Fellowship in regenerative medicine at the University Health Network in Toronto, ON. Dr. Brunt founded and, since 2014, has served as both a director and the Chief Scientific Officer of Nota Bene BioMatrix Inc., a knowledge brokerage, served as Director of Finance for IMPART, a research network, and directs an independent research program in the natural sciences and experimental therapeutics, where he has managed millions in research and development grants and commercialization funds, specializing in primordial molecules and their regulatory networks. Dr. Brunt has also served as a Medical Science Advisor to the Company since 2019. Dr. Brunt draws inspiration from nature and translates this excitement into innovation, maintaining a passion for improving quality of life through strategic research and development.

Item 8.01. Other Items.

On February 11, 2026, the Company formed a wholly owned subsidiary, SightPath Biotech LLC, an Ohio limited liability company (“SightPath”) with the purpose of developing the Company’s first-in-class novel synthetic glycopeptide molecule (PKX-001) for the treatment of dry-eye disease and other ocular diseases, as well as other business pursuits. The patents supporting the development of dry-eye treatment and other ophthalmic indications are still held by the Company. Based on two independent studies, one performed in May 2021 by IQVIA, a leading company in health science analytics, and one performed in March 2025 by Benoit & Cote, a renowned leader in intellectual property, whose analysis supported IQVIA’s valuation findings, the present value of the patents and associated work done to develop the dry-eye disease treatment and other ophthalmic indications is approximately $253 million. The valuation reflects the combination of novel IP, market size, development stage, competitive differentiation, and the scarcity premium for first-in-class ophthalmic assets.

On March 31, 2026, the Company filed a Form 12b-25 Notification of Late Filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 10-K”). On May 15, 2026, the Company filed a Form 12b-25 Notification of Late Filing of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 (the “2026 Q1 10-Q”). The Company is working on filing the 2025 10-K and the 2026 Q1 10-Q.

On June 17, 2026, the Board approved the repricing of options for a total of 61,190,000 shares of common stock of the Company from a $0.028 exercise price per share to $0.01 per share and extended the expiration date of the options from December 6, 2028 to December 6, 2030.

Also on June 17, 2026, the Board approved the repricing of warrants to exercise 6,000,000 shares of common stock of the Company issued to one of its advisors from a $0.028 exercise price per share to $0.01 per share and extended the expiration date of the warrants from December 12, 2028 to December 12, 2030.

Item 9.01. Financial Statements and Exhibits.

	Exhibit No.		Description
	104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on the 17th day of June 2026.

ProtoKinetix, Inc.

By:	/s/ Michael Guzzetta
	Michael Guzzetta, CFO

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents

ProtoKinetix names new president, reprices options

Rhea-AI Filing Summary