EDINBURGH - TC BioPharm (Holdings) PLC (NASDAQ: TCBP), a clinical stage biotechnology company, announced today its plans to initiate Proof of Concept preclinical studies for its lead therapeutic candidate TCB 008, aimed at treating monkeypox. The company is seeking to partner with a prominent Infectious Disease Center or University to expedite the research process.
TCB 008 is an allogeneic cell therapy consisting of activated and expanded gamma delta T (GDT) cells, which are expected to play a significant role in combating viral infections. CEO Bryan Kobel expressed optimism about the potential impact of TCB 008 in addressing aggressive viral infections, including monkeypox, and the possibility of containing its spread.
Monkeypox, caused by a species of the genus Orthopoxvirus, has two different clades, I and II, with clade IIb being responsible for the global outbreak during 2022-2023. The disease manifests through skin rashes or mucosal lesions, fever, headaches, muscle aches, back pain, low energy, and swollen lymph nodes, and can be transmitted through physical contact with infectious individuals or contaminated materials.
As a leader in developing gamma-delta T cell therapies, TC BioPharm has conducted phase II/pivotal clinical studies in oncology and is currently running two investigator-initiated clinical trials for its unmodified gamma-delta T cell product line in the treatment of acute myeloid leukemia.
The company's forward-looking statements involve risks and uncertainties, and there is no assurance that the preclinical studies will lead to successful treatment options for monkeypox or any other viral infections. Investors are cautioned to consider the risk factors detailed in the company's Annual Report and other SEC filings.
This news is based on a press release statement from TC BioPharm and reflects the company's intentions as of today.
In other recent news, TC BioPharm, a biotechnology firm, has been making significant strides in its operations. The company has reported progress in its ACHIEVE Phase 2b clinical trial, successfully administering higher dose levels to a total of six patients. TC BioPharm has also been granted a European patent for its modified gamma delta T cell therapies, aimed at treating cancer and viral indications.
In financial developments, TC BioPharm has secured compliance with Nasdaq's Minimum Stockholders' Equity Requirement, ensuring its continued listing on the Nasdaq Global Select Market. The company has also raised $2 million through a direct offering of shares and warrants, and secured approximately $3.9 million from the exercise of warrants, with H.C. Wainwright & Co. acting as the exclusive placement agent.
Additionally, TC BioPharm has announced an adjustment in the ratio of its American Depositary Shares to ordinary shares, effectively implementing a one-for-10 reverse ADS split, overseen by The Bank of New York Mellon (NYSE:BK). The company has also expressed its intention to acquire a biotechnology firm specializing in Chimeric Antigen Receptor T-cell therapies for cancer treatment, subject to satisfactory negotiations, adequate financing, and necessary third-party approvals. These are the recent developments at TC BioPharm.
InvestingPro Insights
As TC BioPharm (Holdings) PLC (NASDAQ: TCBP) embarks on its mission to develop a therapeutic candidate for monkeypox, investors are closely monitoring the company's financial health and market performance. According to InvestingPro, TCBP is grappling with some financial challenges. The company's cash burn rate is a point of concern, as it is quickly using up its cash reserves, which could impact its ability to fund ongoing research and development activities, including those for TCB 008. This is further complicated by the fact that TCBP's short-term obligations currently exceed its liquid assets, indicating potential liquidity constraints.
Despite these challenges, TCBP has seen significant returns over the last week, with a price total return of 34.65%. Moreover, over the last month, the return has been even more impressive at 79.86%. This recent performance may reflect investor optimism following the company's announcement of its preclinical studies for TCB 008.
InvestingPro's data shows that TCBP has a market capitalization of $4.11 million, which is relatively small, suggesting it is a micro-cap stock that could be subject to higher volatility. The company's P/E ratio stands at -0.02, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at -0.41, highlighting that the company is not currently profitable. Additionally, the price/book ratio for the same period is 3.03, which may be of interest to investors looking at the company's valuation relative to its net asset value.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, providing a comprehensive look at the company's financials and market performance. Visit the InvestingPro platform for a total of 11 detailed InvestingPro Tips on TCBP, which can further guide investment decisions.
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