Sigyn Therapeutics Reports First Quarter 2024 Financial Results
SAN DIEGO, May 15, 2024 -- Sigyn Therapeutics, Inc. (“Sigyn” or the “Company”) (OTCQB: SIGY), a development-stage medical technology company, today announced financial results for the first quarter ended March 31, 2024.
During the quarter, the Company reported a loss from operations of $629,972, as compared to an operating loss of $521,258 for the comparable period in 2023. The Company’s net loss for Q1 2024 was $758,088 or $0.62 per share, as compared to a net loss of $1,341,036, or $1.39 per share, during Q1 2023.
During the first quarter, the Company completed a 1-for-40 reverse split of its common stock. As a result, 1,224,827 shares of Company’s common stock are currently issued and outstanding.
For complete financial results, please see Sigyn Therapeutics’ filings at www.sec.gov, or access them on the Company's website at www.SigynTherapeutics.com.
Subsequent to previously reported first quarter activities, the Company published a white paper on May 7th entitled: “Sigyn TherapyTM, an Emerging Candidate to Address Endotoxemia, Sepsis, and Drug-Resistant Viral & Bacterial Infections.” The paper details the advancement of Sigyn TherapyTM to treat life-threatening conditions that are not addressed with drug therapies. It can be accessed through the following link:
On May 9th, the Company submitted a Patent Cooperation Treaty (PCT) application entitled: “DEVICES FOR ENHANCING THE ACTIVITY OF THERAPEUTIC ANTIBODIES”. WO Patent Application No.: PCT/US24/28579. The patent submission is associated with the Company's ImmunePrepTM platform to improve the delivery of immunotherapeutic antibodies to treat cancer, which are among the most valued assets in global medicine. Regardless, this class of drugs are poorly delivered to cancer cell targets and as a result, many cancer patients don’t respond to therapy. The patent inventors are James A. Joyce and Annette M. Marleau, who previously collaborated on patent submissions underlying the Company’s ChemoPrepTM and ChemoPureTM devices to improve the delivery and reduce the toxicity of chemotherapy.
About Sigyn Therapeutics™
Sigyn Therapeutics is a development-stage medical technology company headquartered in San Diego, California. The Company’s therapeutic candidates are designed to overcome clearly defined limitations in healthcare. These include the ImmunePrepTM platform, ChemoPrepTM, ChemoPureTM, and Sigyn TherapyTM.
ImmunePrepTM is a development-stage commercialization platform to enhance and extend the performance of immunotherapeutic antibodies, which account for nine of the top 15 best-selling cancer treatment drugs. ChemoPrepTM is designed to optimize the delivery of chemotherapy, the most commonly administered drug to treat cancer, while ChemoPureTM extracts off-target chemotherapy from the bloodstream to reduce patient toxicity.
Sigyn TherapyTM is a novel blood purification technology being advanced to treat pathogen-associated conditions that are not addressed with drug therapies. Candidate treatment indications include drug resistant viral and bacterial infections, endotoxemia, and sepsis, the leading cause of hospital deaths in the United States. First-in-human feasibility studies of Sigyn TherapyTM plan to enroll end-stage renal disease (ESRD) patients with endotoxemia and concurrent inflammation, which are highly prevalent in the more than 550,000 dialysis dependent individuals who suffer from ESRD in the United States.
To learn more about Sigyn Therapeutics, visit: www.SigynTherapeutics.com
Cautionary Note Regarding Forward-Looking Statements
This information in this press release contains forward-looking statements of Sigyn Therapeutics, Inc. (“Sigyn”) that involve substantial risks and uncertainties. All statements contained in this summary are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Statements containing words such as "may," "believe," "anticipate," "expect," "intend," "plan," "project," "will," "projections," "estimate," "potentially" or similar expressions constitute forward-looking statements. Such forward-looking statements are subject to significant risks and uncertainties and actual results may differ materially from the results anticipated in the forward-looking statements. These forward-looking statements are based upon Sigyn's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Factors that may contribute to such differences may include, without limitation, the Company's ability to clinically advance Sigyn Therapy in human studies required for market clearance, the Company's ability to manufacture Sigyn Therapy, the Company's ability to raise capital resources, and other potential risks. The foregoing list of risks and uncertainties is illustrative but is not exhaustive. Additional factors that could cause results to differ materially from those anticipated in forward-looking statements can be found under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and in the Company's other filings with the Securities and Exchange Commission, including its quarterly Reports on Form 10-Q. All forward-looking statements contained in this report speak only as of the date on which they were made. Except as may be required by law, the Company does not intend, nor does it undertake any duty, to update this information to reflect future events or circumstances.
Contact:
Jim Joyce
Chairman, CEO
Email: jj@SigynTherapeutics.com
Released May 15, 2024