Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

InvestorNewsBreaks – Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) Announces Upsizing of Private Placement

Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF), a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs, has amended the terms of its non-brokered private placement previously announced on Feb. 4, 2022, and increased the maximum offering amount. According to the update, the company now proposes to complete a non-brokered private placement of common shares in the capital of the company for aggregate gross proceeds of up to $6,000,000. Each of the common shares are being offered at a purchase price of $0.20, which represents an approximately 33% premium to the closing market price on the CSE on Feb. 17, 2022. Tryp Therapeutics also announced that it has secured a lead order under the private placement from its co-founder, William J. Garner, M.D. for $4,000,000 (20,000,000 common shares). Under the revised terms, the parties have agreed to dispense with the previously announced investor rights agreement between the company and Dr. Garner as well as the requirement to reimburse Dr. Garner for certain expenses relating to the private placement. Tryp intends to utilize the proceeds of the private placement to advance its research and development programs and for general working capital purposes.

To view the full press release, visit https://ibn.fm/Ehgih

About Tryp Therapeutics Inc.

Tryp Therapeutics is a pharmaceutical company focused on developing psilocybin-based compounds for the treatment of diseases with unmet medical needs. Tryp’s Psilocybin-for-Neuropsychiatric Disorders (“PFN”(TM)) program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of chronic pain and other indications. The company has announced upcoming phase 2a clinical trials with the University of Michigan and the University of Florida to evaluate its drug products for fibromyalgia and binge eating disorder, respectively. Tryp is also developing a proprietary psilocybin-based product, TRP-8803, that uses a novel formulation and route of administration to improve the patient experience. For more information about the company, visit www.TrypTherapeutics.com.

NOTE TO INVESTORS: The latest news and updates relating to TRYPF are available in the company’s newsroom at https://ibn.fm/TRYPF

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.