WEXFORD, Pa. - Coeptis Therapeutics Holdings, Inc. (NASDAQ:COEP), known for its development of cell therapy platforms, has announced the expansion of its license agreement with Deverra Therapeutics Inc., enhancing the scope of its allogeneic natural killer (NK) cell technology applications. This strategic move, disclosed today, allows Coeptis to deploy unmodified NK cells for the treatment of viral infections and to bolster preparedness for pandemic-related illnesses and future health emergencies.
The initial exclusive license, established in August 2023, granted Coeptis access to Deverra's allogeneic stem cell technology, two investigational new drug applications, and two Phase 1 clinical trial stage assets, including DVX201, an NK cell therapy derived from pooled donor cells. The updated agreement now includes provisions for the use of these unmodified NK cells in scenarios such as pandemics, acts of terror, or war, as well as for the creation of emergency stockpiles.
Dave Mehalick, President and CEO of Coeptis Therapeutics, expressed enthusiasm about the expanded license, stating, "We are delighted to expand our field of use to now include pandemic and emergency situations, as it now broadens the applicability of NK cells to ensure that we are prepared for future health crises and potentially address long term side effects that may arise as a result of a pandemic."
Coeptis Therapeutics Holdings, Inc., along with its subsidiaries, focuses on developing therapies for cancer, autoimmune, and infectious diseases. The company's portfolio features licensed assets from Deverra Therapeutics, including DVX201, and they are also developing technologies in collaboration with VyGen-Bio and the Karolinska Institutet.
Investors are cautioned that this press release contains forward-looking statements, which involve risks and uncertainties. Factors that could cause actual results to differ include challenges in integrating Deverra's assets, competition, clinical trial outcomes, regulatory approvals, and other economic and competitive factors. These forward-looking statements are not guarantees of future performance and reflect the company's current expectations based on current information.
This expansion of Coeptis' license agreement marks a significant step in the company's mission to address critical healthcare needs and demonstrates its commitment to advancing its cell therapy platforms. The information for this article is based on a press release statement from Coeptis Therapeutics.
In other recent news, Coeptis Therapeutics has been making significant strides in its cell therapy trials and has successfully completed a Phase 1 clinical trial for COVID-19-related infections. The biopharmaceutical company has also enrolled participants for a separate trial in acute myeloid leukemia and myelodysplastic syndrome. On the financial front, Coeptis has announced that it will retract its financial statements for several periods in 2023 and 2024 due to accounting errors. This decision was made after an internal review with the company's independent auditor, Turner, Stone & Company, L.L.P.
Coeptis has also made changes to its auditing team, appointing Astra Audit & Advisory, LLC as its new independent registered public accounting firm for the fiscal year ending December 31, 2024. This change comes after parting ways with its previous auditor, Turner, Stone & Company, LLP. On the regulatory side, the company is facing the risk of delisting from the Nasdaq Capital Market due to failure to meet the Nasdaq's Minimum Bid Price Requirement. In response, Coeptis plans to appeal the delisting determination by requesting a hearing before a Nasdaq Hearing Panel.
These are among the recent developments at Coeptis Therapeutics, as the company navigates through its financial and regulatory challenges while making progress in its clinical trials.
InvestingPro Insights
As Coeptis Therapeutics Holdings, Inc. (NASDAQ:COEP) expands its license agreement with Deverra Therapeutics, investors should consider some key financial metrics and insights from InvestingPro.
According to InvestingPro data, Coeptis has a market capitalization of $8.98 million, reflecting its current position as a small-cap biotech company. This valuation aligns with the company's developmental stage and its focus on expanding its cell therapy platforms.
InvestingPro Tips highlight that Coeptis has seen a significant return over the last week, with a 13.57% price increase, and a strong 29.29% return over the last month. These short-term gains could be indicative of positive market sentiment surrounding the company's recent strategic moves, including the expanded license agreement.
However, it's important to note that Coeptis is not currently profitable, with an adjusted operating income of -$17.02 million over the last twelve months as of Q2 2023. This is consistent with the company's developmental stage and ongoing investments in its technology platforms.
The company's stock price has fallen significantly over the last year, with a one-year price total return of -82.62%. This decline underscores the volatile nature of biotech investments, especially for companies in the research and development phase.
For investors considering Coeptis, it's worth noting that analysts do not anticipate the company will be profitable this year, which is not uncommon for biotech firms investing heavily in research and development. The company also does not pay a dividend, focusing instead on reinvesting in its growth initiatives.
These insights provide a snapshot of Coeptis' financial position as it pursues its expanded license agreement. For a more comprehensive analysis, InvestingPro offers additional tips and metrics that could be valuable for investors evaluating the company's potential.
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