BRIDGEWATER, NJ - Tharimmune, Inc. (NASDAQ:THAR), a biotechnology firm focused on inflammation and immunology, today announced the appointment of David H. Clarke as a Strategic Advisor to its executive management team.
Tharimmune's CEO, Randy Milby, expressed confidence that Clarke's extensive experience will bolster the company's strategic initiatives, particularly as they progress with TH104, a treatment for pruritus associated with primary biliary cholangitis, and as they expand their pipeline.
Clarke's background includes leadership roles and board positions at various international and U.S.-based organizations. His expertise spans corporate governance, financial and strategic planning, and he has a significant track record in the biotechnology sector. Clarke's appointment is expected to enhance Tharimmune's efforts to address unmet medical needs, especially in liver disease treatment.
Tharimmune's lead clinical-stage asset, TH104, aims to alleviate chronic, debilitating pruritus or "uncontrollable itching" in patients with primary biliary cholangitis (PBC), a rare liver disease. The company also has an early-stage immunology pipeline focusing on multi-specific antibodies targeting solid tumors.
The company's forward-looking statements indicate plans for future Phase 2 trials and continued development of their portfolio. However, these statements are subject to various factors that could cause actual results to differ materially.
This news is based on a press release statement and provides a snapshot of Tharimmune's latest strategic move in strengthening its leadership team as it continues to advance its clinical programs.
In other recent news, Tharimmune, Inc., a biotechnology firm, has had several key developments. The company has received positive feedback from the FDA for its Phase 2 clinical trial plan for TH104, a treatment for severe itchiness in patients with primary biliary cholangitis.
Concurrently, Tharimmune announced positive results from the Phase 1 trial of TH104, demonstrating comparable pharmacokinetic profile and safety with its oral transmucosal delivery method.
Tharimmune has also appointed industry veteran Jules Haimovitz as a Strategic Advisor to its executive management team. The company raised approximately $2.08 million through a private placement, which is expected to be used primarily for advancing its TH104 development program.
Moreover, Tharimmune has decided to undergo a 1-for-15 reverse stock split, aimed at meeting Nasdaq's minimum bid price requirement.
The company has entered an exclusive licensing agreement with Washington University in St. Louis to develop and commercialize a series of antibodies targeting the human HER2 protein. A Scientific Advisory Board composed of experts in immunology, liver diseases, and antibody-drug conjugates has also been established.
ThinkEquity initiated coverage on Tharimmune with a Buy rating, highlighting the projected revenue potential for TH104, the company's lead product, ranging from $350 million to $500 million from PBC alone. These are among the recent developments for Tharimmune.
InvestingPro Insights
As Tharimmune, Inc. (NASDAQ:THAR) welcomes David H. Clarke to its advisory team, the company's financial stance and market performance provide a backdrop to this strategic decision. Tharimmune's market capitalization stands at a modest 3.32 million USD, reflecting its position as a small-cap biotech firm.
Despite the challenges faced by the industry, Tharimmune holds a notable cash position, with more cash than debt on its balance sheet, which could provide financial flexibility for its clinical developments and strategic initiatives.
The company's stock price has shown significant volatility, with a substantial return of 15.3% over the last week and an even more impressive 37.01% over the last month. These movements may be indicative of investor optimism surrounding recent developments, including Clarke's appointment and potential advancements with their lead asset, TH104.
Still, it is worth noting that the company has not been profitable over the last twelve months, and analysts are not expecting profitability this year. Moreover, Tharimmune's gross profit margins have been weak, which could be a concern for investors looking at the company's ability to generate income from its operations.
For those interested in delving deeper into Tharimmune's financial health and stock performance, there are additional InvestingPro Tips available, including insights on how the company's liquid assets compare to its short-term obligations and an analysis of its long-term price performance. Interested readers can find more information and benefit from a wealth of analytics by visiting https://www.investing.com/pro/THAR and using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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