On November 15, 2022 Sigyn Therapeutics, Inc. ("Sigyn" or the "Company") (OTCQB: SIGY), a development-stage company focused on creating therapeutic solutions to address unmet needs in global health, reported financial results for the third quarter ended September 30, 2022 and provides an update on recent corporate developments (Press release, Sigyn Therapeutics, NOV 15, 2022, View Source [SID1234624101]).
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"Among our third quarter and subsequent corporate developments, we commenced trading on the OTCQB Venture Exchange, established the lead treatment indication for Sigyn TherapyTM, strengthened our Board of Directors, expanded our intellectual property portfolio, and introduced a candidate therapeutic system to enhance the delivery of chemotherapy and reduce its toxicity in cancer patients," commented Jim Joyce, co-founder and CEO of Sigyn Therapeutics.
Third Quarter 2022 and Subsequent Developments
Commenced trading on the OTCQB Venture Exchange.
Announced plans to pursue first-in-human feasibility studies of Sigyn Therapy in End-Stage Renal Disease patients suffering from excess inflammation and/or endotoxemia.
Brought a diverse set of expertise to its Board of Directors by appointing Richa Nand, B.S., J.D.; Jim Dorst, B.S., M.S.; and Christopher Wetzel, B.S., M.B.A. as directors.
Filed a provisional patent application entitled: "SYSTEM AND METHODS TO ENHANCE CHEMOTHERAPY DELIVERY AND REDUCE TOXICITY" with the United States Patent and Trademark Office ("USPTO").
Related to the provisional patent application for its cancer treatment system, filed intent-to-use trademark applications to register ChemoPrep and ChemoPure with the USPTO.
Summary Third Quarter 2022 Financial Results
For the quarter ended September 30, 2022, the Company had a loss from operations of approximately $533,000, compared to an operating loss of approximately $573,000 for the comparable period of 2021. The Company’s net loss for the 2022 third quarter was approximately $727,000, or approximately $0.02 per share, compared to a net loss of approximately $666,000, or approximately $0.02 per share, for the comparable period in 2021. Third quarter 2022 net cash used in operating activities was approximately $524,000.
For complete financial results, please see Sigyn Therapeutics’ filings at www.sec.gov, and on the Company’s website at www.SigynTherapeutics.com under "Financial Info" in the Investors section.