Chromocell Therapeutics Corp.
General Information | |
Business: | We are a Phase 1 clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. (Incorporated in Delaware)Our clinical focus is to selectively target the sodium ion-channel known as “NaV1.7”, as well as other receptors in the NaV family. NaV1.7 has been genetically validated as a pain receptor in human physiology. Genetic studies have shown that families with a certain inherited NaV1.7 modulation consistently show a pathology of not feeling pain. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system (“CNS”).Our goal is to develop a novel and proprietary class of NaV blockers that target the body’s peripheral nervous system, initially for Erythromelalgia (“EM”), a rare condition that primarily affects the feet and, less commonly, the hands (extremities). It is characterized by intense, burning pain of affected extremities, severe redness (erythema), and increased skin temperature that may be episodic or almost continuous in nature. Erythromelalgia is an orphan disease.We are currently working on the development of the Phase 2a proof-of-concept plan and expect to launch the Phase 2a proof-of-concept study in 2024 to assess the potential efficacy of CC8464 in genetically validated EM patients. Though the Phase 2a proof-of-concept study design has not yet been completed, we expect to launch the study during the fourth quarter of 2024 and that the study will take approximately 12 months after it is initiated. We are anticipating dosing approximately 20 patients diagnosed with genetically validated EM. We will be using a cross-over design which has the advantage of increasing the study power while keeping the number of patients relatively low. Each patient will be exposed to both placebo and CC8464 during the 2 cross-over phases of the trial but neither the investigators nor the patients will know when they are receiving active drug or placebo. During each dosing period we will induce an EM flare. The primary endpoint will be the amount of pain experienced during the flare with secondary endpoints including other measurements like pain relief, time to onset of the flare and neuropathy scores. The final design may change based on feedback from the U.S. Food and Drug Administration (“FDA”) or information learned during the dose escalation trial.*Note: Net loss and revenue are for the 12 months that ended Sept. 30, 2023.(Note: Chromocell Therapeutics Corp. upsized its micro-cap IPO at pricing to 1.1 million shares – up from 1.04 million shares (1,039,657 shares) in the prospectus – and priced the IPO at $6.00 – the mid-point of its $5.50-to-$6.50 range – to raise $6.6 million on Thursday night, Feb. 15, 2024. This is an NYSE – American Exchange listing. Background: On Jan. 16, 2024, Chromocell Therapeutics filed an S-1/A in which it cut the number of shares in its IPO to 1.04 million shares (1,039,657 shares) – down from 2.11 million shares previously – and raised the price range to $5.50 to $6.50 – up from $3.00 to $4.50 – to raise $6.24 million. In this SEC filing, Chromocell Therapeutics said the new terms and financial figures in the prospectus assumed a 1-for-9 reverse stock split. Chromocell Therapeutics also disclosed in that Jan. 16, 2024, filing, that it had named A.G.P. its sole book-runner, to replace Titan Partners.)(Background: Chromocell Therapeutics Corp. filed an S-1/A dated Nov. 7, 2023, in which it raised the number of shares in its IPO to 2.11 million shares – up from 1.74 million – and cut the price range to $3.00 to $4.50 to raise $7.91 million. Background: Chromocell Therapeutics Corp. filed an S-1/A dated Oct. 13, 2023, and disclosed its IPO terms: 1.74 million shares (1,741,008 shares) at $4.50 to $5.50 to raise $8.71 million ($8,705,000). The terms assume a 1-for-2 reverse stock split. In that Oct. 13, 2023, filing with the SEC, Chromocell Therapeutics named Titan Partners as its sole book-runner, replacing Maxim Group. Chromocell Therapeutics Corp. filed its S-1 on Jan. 10, 2023.)
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Industry: | BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) |
Employees: | 3 |
Founded: | 2021 |
Contact Information | |
Address | 4400 Route 9 South, Suite 1000 Freehold, NJ 07728 732-514-2636 |
Phone Number | 1-732-514-2636 |
Web Address | https://chromocell.com/ |
View Prospectus: | Chromocell Therapeutics Corp. |
Financial Information | |
Market Cap | $34.54mil |
Revenues | $0 mil (last 12 months) |
Net Income | $-4.2 mil (last 12 months) |
IPO Profile | |
Symbol | CHRO |
Exchange | NYSE - American |
Shares (millions): | 1.1 |
Price range | $6.00 - $6.00 |
Est. $ Volume | $6.6 mil |
Manager / Joint Managers | A.G.P. |
CO-Managers | |
Expected To Trade: | 2/16/2024 |
Status: | Priced |
Quiet Period Expiration Date: | Available only to Subscribers |
Lock-Up Period Expiration Date: | Available only to Subscribers |
SCOOP Rating | Available only to Subscribers |
Rating Change | Available only to Subscribers |