Cyclo Therapeutics drops on share offering

Cyclo Therapeutics

17/11/2021 11:16

** Cyclo Therapeutics Inc  CYTH.O  shares down ~16%
premarket after follow-on prices
    ** Co sold 1.95 mln shares at $6, 18.3% discount to stock's
last sale, raises $11.7 mln  urn:newsml:reuters.com:*:nBw8qBQx5a
    ** On Tues, CYTH rose as high as $8.30 before closing up
just 0.7% after co submitted application to U.S. FDA to start
human mid-stage trials for lead drug candidate, Trappsol Cyclo,
for treatment of early Alzheimer's Disease  urn:newsml:reuters.com:*:nL4N2S739S
    ** Co has ~6.46 mln shares outstanding and ~5.57 mln of free
float, per Refinitiv data
    ** Maxim Group sole bookrunner for offering
    ** CYTH up 69% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))