Paxmedica, INC

PaxMedica announces the resignation of its Chairman and two directors in connection with its transition to becoming a wholly-owned subsidiary of PRV, LLC.

PaxMedica has successfully induced the immediate exercise of existing warrants at a reduced price, generating $884,616 in gross proceeds and issuing new warrants for future share purchases.

PaxMedica's Chief Medical Officer, Dr. David Hough, has resigned from his position effective July 16, 2024, due to his retirement.

PaxMedica has received notification from Nasdaq that it no longer meets the minimum stockholders' equity requirement for continued listing, following a previous delisting decision.

PaxMedica's annual meeting saw shareholders approve the election of a director and a reverse stock split, but reject a proposal for officer exculpation.

PaxMedica has filed an appeal against its delisting from Nasdaq and is preparing for a key FDA meeting regarding its drug candidate, PAX-101.

Kuvatris Therapeutics, formerly PaxMedica, Inc., filed its Q3 2024 10-Q to comply with FINRA, revealing a going-private transaction, significant financial losses, and ongoing liquidity challenges.

PaxMedica's Q2 2024 report reveals ongoing losses and a cash balance of $0.3 million, alongside a suspension from the Nasdaq Capital Market, raising concerns about the company's ability to continue as a going concern.

PaxMedica reported a net loss of $3.7 million for the first quarter of 2024 and disclosed its delisting from the Nasdaq Capital Market.

PaxMedica's 10-K filing details its registered securities, capital structure, and various financial agreements, highlighting its focus on developing anti-purinergic drug therapies.

PaxMedica has filed a registration statement for the resale of up to 9,023,083 shares of common stock by selling stockholders, stemming from the exercise of warrants issued in September 2024.