24/7 Market News Snapshot 29 Jul 2024 – NLS Pharmaceutics Ltd. Ordinary Shares (NASDAQ: NLSP)

July 29, 2024 6:49

Press Release

DENVER, Colo., 29 July, 2024 (247marketnews.com) – (Nasdaq:NLSP) are discussed in this article.
NLS Pharmaceutics Ltd. (NLSP) Sees Bullish Momentum with Stock Price Surge and Announces Merger with Kadimastem Ltd.

In an exciting development for investors, NLS Pharmaceutics Ltd. (NLSP) is experiencing a bullish trend with its stock price surging to $0.372 in the pre-market session, marking an impressive 95.26% increase from the previous close of $0.19. Trading at a high volume of 6.3M, the significant jump indicates strong investor interest and a potentially lucrative opportunity for gains.

Additionally, NLS Pharmaceutics Ltd. and Kadimastem Ltd. have revealed plans for a merger transaction that will create a new biotechnology company listed on the Nasdaq Capital Market. The merger will see Kadimastem becoming a wholly owned subsidiary of NLS, with Kadimastem’s shareholders acquiring an 85% interest in the merged entity, which will operate under the name Kadimastem.

Focused on Kadimastem’s allogeneic cell therapy platform for treating neurodegenerative diseases and diabetes, the merged company aims to leverage synergies between the two entities. The transaction, structured as a reverse triangular merger, is subject to stockholder approval and targets a closing before the end of the year.

Following the merger, key assets from both companies will be advanced, with a specific emphasis on NLS’s Dual Orexin Agonist platform. Any proceeds from divested NLS assets will be distributed to shareholders through a contingent value rights agreement. The merger is set to enhance product development and growth opportunities, with a focus on innovative therapies and increased market potential, particularly in diabetes treatment and neurodegenerative diseases.

The leadership teams of NLS Pharmaceutics and Kadimastem express optimism about the merger, highlighting the creation of long-term value for stakeholders through collaborative projects and FDA-approved clinical trials. By combining their expertise and resources, the companies aim to drive innovation in biotechnology and deliver enhanced value to their shareholders.

As the definitive agreement for the merger is anticipated to be finalized in September 2024, NLS Pharmaceutics Ltd. and Kadimastem Ltd. are poised to embark on a transformative journey that promises significant growth and opportunities in the biotechnology sector.

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