Cyclo Therapeutics Inc. (CYTH) stock prices were up by 5.97% shortly before the start of market trading on August 17th 2021. This brought the price per share up to USD$7.46 early on in the trading day.
Resounding Success of Q2 2021
The second quarter of fiscal 2021 saw CYTH stock was marked by excellent execution across multiple fronts. The company recently reported positive topline results from its Phase 1/2 study in NPC, as well as positive long-term safety and efficacy from our Phase 1 open-label extension study. Accordingly, the company continued to build on the snowball event in the initiation of its pivotal Phase 3 study in NPC, as well as the commencement of commercial-scale manufacturing for Trappsol Cyclo. Furthermore, the company is moving forward with its strategy for its Alzheimer’s Disease program. This is on the basis of positive feedback from the United States Food and Drug Administration. The upcoming quarters are expected to hold a variety of catalytic milestones.
CYTH Stock’s Trappsol Cyclo
The company initiated the commercial-scale production of batches of Trappsol Cyclo over the course of the second quarter of fiscal 2021. Trappsol Cyclo will facilitate the support of the ongoing TransportNPC study in NPC1. NPC1 is the upcoming Phase 2 study in Alzheimer’s Disease. Trappsol Cyclo will also support CYTH stock’s active compassionate use program. The company also commenced site activation and patient enrollment for the TransportNPC study. The study is designed to evaluate Trappsol Cyclo for the treatment of NPC1.
CYTH Stock’s Net Loss and R&D Costs
Net loss for the second quarter of fiscal 2021 was reported at roughly USD$3.6 million. Research and development expenses were up by 54%, coming in at USD$2.6 million for Q2 2021. This is comparable to the USD$1.7 million for the three-month period ended June 30th, 2020. The year over year increase was largely driven by increased activity in CYTH stock’s international clinical program and U.S. clinical trials. The company forecasts R&D costs to further increase over the rest of 2021 as it continues to seek regulatory approval for the use of Trappsol Cyclo in the treatment of NPC and AD.
Future Outlook for CYTH Stock
The company reported strong financials for its second quarter of fiscal 2021. The company is keen to leverage the resources at its disposal to usher in organic growth over the long term. Current and potential investors are hopeful for sustained and significant increases in shareholder value.
