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CAN-FITE ANNOUNCES ADS RATIO CHANGE

On December 30, 2022 Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CANF), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address inflammatory, cancer and liver diseases, reported that the Company will change the ratio of its American Depositary Shares (ADSs) to ordinary shares from one (1) ADS representing thirty (30) ordinary shares to a new ratio of one (1) ADS representing three hundred (300) ordinary shares (Press release, Can-Fite BioPharma, DEC 30, 2022, View Source [SID1234625692]). The ratio change will be effective on January 9, 2023.

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For ADS holders, the ratio change will have the same effect as a one-for-ten reverse ADS split. On the effective date, each ADS holder will be required to exchange every ten (10) ADSs then held for one (1) new ADS. The Bank of New York Mellon, the depositary bank, will arrange for the exchange of the current ADSs for the new ones. There is no change to the Company’s underlying ordinary shares, and the Company’s ADSs will continue to trade on the NYSE American under the symbol "CANF".

No fractional new ADSs will be issued in connection with the change in the ADS ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the depositary bank.

As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than ten times the ADS price before the change.

MOLECULAR PARTNERS TO PRESENT AT 41ST ANNUAL JP MORGAN HEALTHCARE CONFERENCE AND SWISS INVESTOR CONFERENCES

Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin therapeutics, reported that its Chief Executive Officer, Patrick Amstutz, Ph.D., will participate in the 41st annual JP Morgan Healthcare Conference in San Francisco, CA (Press release, Molecular Partners, DEC 30, 2022, View Source [SID1234625691]). In addition, members of Molecular Partners management will participate in several upcoming investor events in Switzerland during January 2023.

Conference Presentation Details:

JP Morgan 41st Annual Healthcare Conference

Wednesday, January 11, 2023, at 10:30 am ET (4:30 pm CET)
Baader Helvea Swiss Equities Conference

Thursday, January 12, 2023, at 10:00 am ET (4:00 pm CET)
Conference Participation Details:

The Octavian Seminar 2023

Friday, January 13, 2023
All webcasted presentations will be made available on the Molecular Partners website.

PharmaMar initiates first human clinical trial of a new molecule, PM534, for cancer patients

On December 30, 2022 PharmaMar (MSE: PHM) has reported the initiation of a new Phase I clinical trial with PM534, a novel marine-derived anti-tumor compound resulting from the Company’s research program for the treatment of solid tumors (Press release, PharmaMar, DEC 30, 2022, View Source [SID1234625687]).

PM534 has been tested in the laboratory, both in cell cultures (in vitro) and in animals (in vivo). In both cases, PM534 showed relevant antitumor activity in a wide variety of tumor types, including those with resistance to other chemotherapies.

The objectives of this first human clinical trial are to find the recommended dose and, in turn, to evaluate the safety and efficacy profile.

The trial will be conducted in patients with advanced solid tumors who will be administered the drug intravenously.

GT Biopharma, Inc. Announces $6.5 Million Registered Direct Offering Priced At Premium To Market

On December 30, 2022 GT Biopharma, Inc. (the "Company" or "GTB") (NASDAQ: GTBP), a clinical stage immuno-oncology company focused on developing innovative therapeutics based on the Company’s proprietary natural killer (NK) cell engager, TriKE platform, reported that it has entered into a definitive securities purchase agreement for the purchase and sale of 6,500,000 shares of the Company’s common stock (or common stock equivalents) and warrants to purchase up to an aggregate of 6,500,000 shares of common stock at a combined purchase price of $1.00 per share of common stock (or common stock equivalent) and associated warrant in a registered direct offering (Press release, GT Biopharma, DEC 30, 2022, View Source [SID1234625686]). The warrants have an exercise price of $1.00 per share, will be exercisable commencing six months following issuance, and will have a term of exercise equal to five years following the initial exercise date.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The closing of the offering is expected to occur on or about January 4, 2023, subject to the satisfaction of customary closing conditions. The gross proceeds to the Company from this offering are expected to be $6.5 million, before deducting the placement agent’s fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate purposes.

The securities in the offering described above are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-267870) previously filed with the Securities and Exchange Commission (the "SEC") and declared effective by the SEC on October 20, 2022. The offering is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at View Source or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 865-5711 or e-mail at [email protected].

SALES AGREEMENT, DATED DECEMBER 30, 2022, BY AND AMONG ENLIVEX THERAPEUTICS LTD.

On December 30, 2022, Enlivex Therapeutics Ltd., a company organized under the laws of the State of Israel (the "Company"), entered into an Agreement (the "ATM Agreement") with Cantor Fitzgerald & Co. and JMP Securities LLC, as agents (the "Agents"), pursuant to which the Company may elect to sell, from time to time through the Agents, ordinary shares, par value NIS 0.40 per share of the Company, having an aggregate offering price of up to $100.0 million (collectively, the "Offered Shares") (Filing, 6-K, Enlivex Therapeutics, DEC 30, 2022, View Source [SID1234625685]).

Any potential sale of the Offered Shares will be made pursuant to the Company’s effective shelf registration statement on Form F-3, including the prospectus contained therein (File No. 333-264561) filed by the Company with the Securities and Exchange Commission (the "SEC") on April 29, 2022 and declared effective on May 5, 2022, as supplemented by a prospectus supplement (the "Prospectus Supplement") dated December 30, 2022 and filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the "Securities Act").

If the Company elects from time to time to sell ordinary shares under the Prospectus Supplement, such sales may be made in transactions that are deemed to be "at-the-market" offerings as defined in Rule 415 under the Securities Act, including sales made directly on or through the Nasdaq Capital Market, the existing trading market for the Company’s ordinary shares, or any other existing trading market in the United States for the Company’s ordinary shares, sales made to or through a market maker other than on an exchange or otherwise, directly to an Agent as principal, in negotiated transactions, or in any other method permitted by law, which may include block trades. The Agents have agreed to use commercially reasonable efforts consistent with their normal trading and sales practices to sell the Offered Shares pursuant to the ATM Agreement from time to time, based upon instructions from the Company, including any price or size limits or other customary parameters or conditions the Company may impose.

The Company is not obligated to sell any Offered Shares under the ATM Agreement. The ATM Agreement will terminate upon the earliest of (a) the sale of all of the Offered Shares and (b) the termination of the ATM Agreement by the Agents or the Company, as permitted therein.

The Company has agreed to pay the Agents an aggregate commission of 3.0% of the gross sales price from each sale of Offered Shares by either Agent pursuant to the ATM Agreement and has agreed to customary indemnification and contribution rights in favor of the Agents.

Additionally, the Company has agreed to reimburse the Agents for certain specified expenses in connection with entering into the ATM Agreement and ongoing sales thereunder. The ATM Agreement contains customary representations and warranties and conditions to the sale of the Offered Shares thereunder.

The foregoing description of the ATM Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed herewith as Exhibit 10.1 to this Report on Form 6-K and is incorporated herein by reference.

This Report on Form 6-K shall not constitute an offer to sell or the solicitation of an offer to buy the Offered Shares or any other securities, nor shall there be any offer, solicitation, or sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.