Carmell Announces Successful Closing of Axolotl Biologix Sale Transaction
2024年3月27日 - 10:15PM
Carmell Corporation (Nasdaq: CTCX), a bio-aesthetics company
focused on skin and hair health (“Carmell”, the “Company”, “we”,
“our”, or “us”), today announced the successful closing of the
previously announced sale of its wholly owned subsidiary, Axolotl
Biologix (“AxoBio”) to the initial sellers of AxoBio for 3,845,337
shares of Carmell common stock, 4,243 shares of Carmell preferred
stock and cancellation of $8 million in notes payable.
“The sale of AxoBio enables our exit from the
tissue graft space thereby facilitating a sharper organizational
focus on the launch of our skincare products beginning in March
2024 and continuing over Summer 2024,” said Rajiv Shukla, Chairman
& Chief Executive Officer of Carmell.
Following the sale of AxoBio, Carmell’s
financial position is expected to improve as follows:
- $4 million drop in annualized cash
burn (net of revenue) based on AxoBio’s actual January 2024
financials.
- $15.6 million reduction in debt:
$7.6 million of AxoBio subsidiary level debt plus $8 million note
payable related to the AxoBio acquisition.
- $7 million increase in tangible
equity due to elimination of AxoBio’s negative tangible
equity.
- 29% reduction in EPS dilution due
to the cancellation of 8.09 million CTCX common shares on a fully
diluted basis. Post-Closing, Carmell has 19.25 million common
shares outstanding.
About CarmellCarmell is a
bio-aesthetics company that utilizes the Carmell SecretomeTM to
support skin and hair health. The Carmell SecretomeTM consists of a
potent cocktail of growth factors and proteins extracted from
allogeneic human platelets sourced from U.S. Food and Drug
Administration-approved tissue banks. The technology underpinning
the Carmell SecretomeTM has been extensively tested for safety and
efficacy, significantly surpassing standards set by the aesthetics
industry, including robust results from a prospective, randomized,
multi-center Phase 2 human trial. Besides the Carmell SecretomeTM,
the Company has developed a novel micellar nanoparticle formulation
that enables delivery of lipophilic and hydrophilic ingredients
without relying on the Foul FourteenTM, 14 potentially harmful
excipients that are commonly used by other companies to impart
texture, stability, and other desirable physicochemical attributes
to cosmetic products. Additionally, Carmell’s micellar formulations
do not utilize mineral or vegetable oils across their entire
product line and are designed to be non-comedogenic. The Company is
also developing a line of men’s products and a line of topical
haircare products. All products are tailored to meet the demanding
technical requirements of professional care providers and
discerning retail consumers. For more information,
visit www.carmellcosmetics.com.
Forward-Looking StatementsThis
press release contains forward-looking statements that are based on
beliefs, assumptions and information currently available. In some
cases, you can identify forward-looking statements by the following
words: “may,” “will,” “could,” “would,” “should,” “expect,”
“intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “ongoing” or the negative of
these terms or other comparable terminology. However, not all
forward-looking statements contain these words. These statements
involve risks, uncertainties and other factors that may cause
actual results, levels of activity, performance or achievements to
be materially different from the information expressed or implied
by these forward-looking statements. Although we believe that we
have a reasonable basis for each forward-looking statement
contained in this press release, we caution you that these
statements are based on a combination of facts and factors
currently known by us and our projections of the future, about
which we cannot be certain. Forward-looking statements in this
press release include, but are not limited to, statements about the
impact of the AxoBio sale on our financial condition, our business
strategy, the commercial launch of our G.L.E.E product and other
products in our pipeline, and the attributes and benefits of
Carmell’s products including products under development as well as
commercial strategy, goals, plans and timelines. We cannot assure
you that the forward-looking statements in this press release will
prove to be accurate. These forward-looking statements are subject
to a number of significant risks and uncertainties that could cause
actual results to differ materially from expected results,
including, among others, the ability to recognize anticipated
benefits from our commercial products, R&D pipeline,
distribution agreements, changes in applicable laws or regulations,
the possibility that Carmell may be adversely affected by other
economic, business, and/or competitive factors, and other risks and
uncertainties, including those described under the header “Risk
Factors” in the Quarterly Report on Form 10-Q filed by Carmell with
the Securities and Exchange Commission (the “SEC”) on November 15,
2023, and in our other reports filed with the SEC. Most of these
factors are outside of Carmell’s control and are difficult to
predict. Furthermore, if the forward-looking statements prove to be
inaccurate, the inaccuracy may be material. In light of the
significant uncertainties in these forward-looking statements, you
should not regard these statements as a representation or warranty
by us or any other person that we will achieve our objectives and
plans in any specified time frame or at all. Except as required by
law, we undertake no obligation to publicly update any
forward-looking statement contained herein to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. You should, therefore, not rely on these
forward-looking statements as representing our views as of any date
subsequent to the date of this press release.
Contact:Bryan CassadayChief Financial
Officerbc@carmellcorp.com
Carmell (NASDAQ:CTCX)
過去 株価チャート
から 11 2024 まで 12 2024
Carmell (NASDAQ:CTCX)
過去 株価チャート
から 12 2023 まで 12 2024