TFF Pharmaceuticals, Inc., a pharmaceutical company specializing in preparations, is set to be removed from the Nasdaq Stock Market listings, according to a recent 8-K filing with the U.S. Securities and Exchange Commission. The company's stock, currently trading at $0.30, has experienced a dramatic 96.9% decline over the past year, according to InvestingPro data. The Austin, Texas-based company, which trades under the ticker NASDAQ:TFFP, received a formal delisting notification from Nasdaq on Wednesday, December 4, 2024.
InvestingPro analysis reveals concerning metrics, including a weak financial health score of 1.57 and rapid cash burn rate, with the company's market capitalization now at just $1.38 million.
Trading of TFF Pharmaceuticals' common stock is expected to be suspended at the start of business on December 13, 2024. Subsequently, Nasdaq will file a Form 25-NSE with the SEC to formally strike the company's securities from listing and registration on the exchange.
In other recent news, TFF Pharmaceuticals has seen significant advancements in its drug delivery methods and clinical trials. Roth/MKM maintained its Buy rating on the company, emphasizing the breakthrough of its Thin Film Freezing (TFF) technology in formulating dry powders for inhalation drug delivery, an innovation that could potentially enhance treatment effectiveness while reducing toxicity.
TFF Pharmaceuticals also announced a partnership with Emory University and the Biomedical Advanced Research and Development Authority to advance its TFF technology for antiviral drug delivery. This collaboration aims to convert an mRNA-based Cas13a antiviral into a dry powder form for inhalation, potentially improving the distribution of therapies for respiratory viruses.
The company reported positive preclinical results for its universal influenza vaccine candidates, developed in collaboration with the Cleveland Clinic. These findings suggest the potential of these candidates to generate protective antibody titers against multiple influenza strains.
In other developments, TFF Pharmaceuticals' ongoing Phase 2 clinical trial of Tacrolimus Inhalation Powder for lung transplant rejection prevention has shown promising preliminary results. The company also announced the resignation of Michael Patane from its Board of Directors, effective June 30, 2024.
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