180 Life Sciences Corp. (NASDAQ: ATNF) CEO James Woody, MD, PhD, has issued a letter to ATNF stockholders. In the letter he provides an overview of the company’s activities and accomplishments since his last stockholder letter, which was released in November 2020. The letter noted the company’s achievement in both legacy-related issues and strengthening its balance sheet. A highlight mentioned in the letter was that the company had reduced its debt from $5 million to $316,000. Woody also reported that the company had converted $3 million in preferred equity to equity. In the letter, Woody also noted that the company had added two new members to its board of directors and was in the process of adding two additional independent directors to its board, which would bring ATNF in compliance with NASDAQ’s continued listing requirements. The letter also highlighted 180 Life Sciences exciting pipeline, including its three clinical programs: Early Dupuytren’s contracture, a fibrotic disease of the hand; frozen shoulder; and post-operative cognitive delirium disorder and dysfunction, a major unmet clinical need occurring in the elderly patient population. “At 180 Life Sciences, we continue to move forward on all fronts. Including efforts to increase visibility for our team and its mission. We are proactively working on telling our story through a steady flow of participation in investor conferences, thought leadership opportunities through earned media, and continued amplification through social media channels,” wrote ATNF CEO James Woody in the letter. “It is important to note that our business model itself is unique for a biotech company. Almost all our clinical studies to date have been funded in full through grants. While ultimately, we intend to fund some studies internally, we anticipate our operating expenses will remain low relative to our peers. There are many advantages of doing clinical development mostly with academic leaders, both in cost, efficiency and credibility.”
To view the full press release, visit https://ibn.fm/upPT4
About 180 Life Sciences Corp.
180 Life Sciences is a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain by leveraging the combined expertise of luminaries in therapeutics from Oxford University, the Hebrew University and Stanford University. 180 Life Sciences is leading the research into solving one of the world’s biggest drivers of disease — inflammation. The company is driving groundbreaking studies into clinical programs, which are seeking to develop novel drugs addressing separate areas of inflammation for which there are no effective therapies. 180 Life Sciences’s primary platform is a novel program to treat fibrosis using anti-TNF (“TNF”) (tumor necrosis factor), with its lead program in phase 2b/3 clinical trials. For more information about the company, visit www.180LifeSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to ATNF are available in the company’s newsroom at http://ibn.fm/ATNF
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