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Claritas Pharmaceuticals Inc V.CLAS.H

Alternate Symbol(s):  CLAZF

Claritas Pharmaceuticals, Inc., formerly Kalytera Therapeutics Inc, is a biotechnology company that is focused on developing R-107 for the treatment of vaccine-resistant coronavirus disease (COVID) strains. The Company’s products in development include R-107 for coronavirus disease and Viral Infections, R-107 and Vaccines, and CLA-1816 for treatment of pain. R-107 is designed to defeat COVID viruses on contact. R-107 targets the Achilles heel of COVID, the spike protein on the surface of the virus. R-107 releases nitric oxide, which attaches to a specific amino acid on the spike protein, thereby disabling the spike protein. The CLA-1816 provides effective pain reduction, without the risks of addiction or respiratory suppression that exist with opioid analgesics. CLA-1816 strongly binds with and activates the alpha3 glycine pain receptor in the spine. The Company has leased a laboratory, office, and archival space in Beverly, Massachusetts.


TSXV:CLAS.H - Post by User

Comment by PTBaileyon Jul 21, 2021 5:10pm
117 Views
Post# 33583103

RE:It is posted you have to read it

RE:It is posted you have to read it
whisky11 wrote: This part of bankers asking for Rs is from interview with CEO.

TO ONCE AGAIN CLARIFY
the reason for the Reverse Split ....
"Robert Farrell
Tue 2021-04-27 4:41 PM
The investment bank we are working with has advised that we seek shareholder approval for a share consolidation or reverse split, so that the share price for the financing will be at least $0.50, which will be more attractive to institutional investors.
Without the reverse split, there is a risk that we would be precluded from raising any capital at all, due to the TSXV "five-cent rule", which prohibits listed companies from issuing shares at less than $0.05.
To avoid the risk posed by the "five-cent rule" and to attract institutional investors for our offering, we recommend that shareholders approve the reverse split.
We have considered the risks inherent in a reverse split, and we recognize that shareholders are concerned regarding a reverse split.
We also recognize the risk of short selling following a reverse split. However, after mid-June we expect to announce a number of positive developments that should drive value, attract investor interest and deter short selling."
All things considered, we believe that approval of the reverse split will be in the best interests of the Company and its shareholders.
Bob
 

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