EDINBURGH - TC BioPharm (Holdings) PLC (NASDAQ: TCBP), a clinical-stage biotechnology company valued at approximately $5 million, has made significant strides in its acquisition negotiations, working towards expanding its gamma-delta T-cell therapies platform. According to InvestingPro data, the company's stock has experienced significant volatility, declining over 98% in the past year. The company is actively pursuing acquisitions in the Natural Killer (NK) cell technologies and chimeric antigen receptor (CAR)-related technologies.
Earlier this year, TC BioPharm announced non-binding letters of intent with potential acquisition targets, signaling a strategic move to broaden its therapeutic reach. With an overall financial health score rated as 'WEAK' by InvestingPro, the company faces challenges in executing its growth strategy. InvestingPro subscribers have access to 11 additional key insights about TCBP's financial position and market performance. The company is now focusing on near-term opportunities in the allogeneic NK cell space and CAR-NK space, with the goal of enhancing its treatment platform for autoimmune diseases, solid tumors, and combination therapies.
TCB008, TC BioPharm's candidate therapy, is being considered for modification with new CAR technologies to improve its efficacy in treating solid tumors among other cancers. Such advancements could also optimize economies of scale for the therapeutic and leverage the company's existing manufacturing capabilities, which have room for expansion. Financial data from InvestingPro shows the company operating with a moderate debt level and negative EBITDA of -$14.32 million in the last twelve months, highlighting the importance of successful commercialization.
Bryan Kobel, CEO of TC BioPharm, expressed optimism about the ongoing acquisition discussions, stating that the company is in pursuit of entities with proprietary treatment approaches that align with TC BioPharm's existing offerings. Kobel emphasized the company's commitment to establishing itself as a leader in innovative oncology treatments and anticipates providing further updates as negotiations progress.
TC BioPharm is recognized for its leadership in developing gamma-delta T cell therapies and is the first to conduct phase II/pivotal clinical studies in oncology. The company's CryoTC technology, which utilizes allogeneic gamma-delta T cells, is currently undergoing Phase 2b/3 pivotal trials for the treatment of acute myeloid leukemia.
The information provided is based on a press release statement from TC BioPharm. It should be noted that forward-looking statements involve risks and uncertainties, and the actual results may differ materially from those projected. With a current ratio of 1.12 and rapidly depleting cash reserves, investors seeking detailed financial analysis can access comprehensive metrics and expert insights through InvestingPro. For further details on these risks, interested parties can review the "Risk Factors" in the company's Annual Report and other filings with the SEC.
In other recent news, TC BioPharm has seen a series of significant developments. The biotechnology firm has secured an $8 million capital injection from an investor group and reduced its cash burn by 50% in Q1 2024. It has also made progress in its ACHIEVE UK trial, administering increased dosages of its cancer treatment TCB008 to patients. H.C. Wainwright adjusted its stock price target for TC BioPharm to $3.00 from the previous $7.00, while maintaining a Buy rating. This adjustment was due to changes in the expected launch timing of TC BioPharm's TCB008 AML program and changes in the capital structure of the company. Additionally, the company has signed two non-binding letters of intent for acquisitions to broaden its cell therapy portfolio, and has publicly refuted rumors regarding its Nasdaq listing status. Lastly, TC BioPharm has expressed its intention to acquire a biotechnology firm specializing in Chimeric Antigen Receptor T-cell therapies for cancer treatment. These are the recent developments at TC BioPharm.
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