Notable News Spotlight: Neurotrope (NASDAQ:NTRP)

Neurotrope (NASDAQ:NTRP) changed -0.89% to recent value of $1.11. The stock transacted 14403538 shares during most recent day however it has an average volume of 199.48K shares. It spotted trading -71.17% off 52-week high price. On the other end, the stock has been noted 76.19% away from the low price over the last 52-weeks.

On Sept. 30, 2020, Neurotrope (NASDAQ:NTRP) reported that they have entered into an amendment to their definitive merger agreement (Amended Merger Agreement) under which the consideration due to Neurotrope stockholders will increase to 49% of the combined company on a pro forma basis and based upon the final Neurotrope common stock share count at close (Under terms of the Merger Agreement dated July 23, 2020, Neurotrope stockholders were to own approximately 22.5% of the combined company.) Neurotrope and Metuchen previously announced their intent to merge in an all-stock transaction resulting to form a NASDAQ-traded holding company to be named Petros Pharmaceuticals (Petros).  As part of the Amended Merger Agreement, Neurotrope shareholders currently representing 34% of the Company’s outstanding shares have signed a shareholder rights agreement in support of the merger.

Consistent with the original Merger Agreement, under terms of the Amended Merger Agreement, upon closing of the transaction, Neurotrope Bioscience Inc.’s (NBI) current lead asset, Bryostatin-1 to treat neurodegeneration, and substantially all of its existing assets, operations and liabilities, except for cash retained by Petros in accordance with the terms of the Amended Merger Agreement, will be spun-out into a new, separately traded company. The Amended Merger Agreement has been approved by the boards of directors of both companies.

Its earnings per share (EPS) expected to touch remained 14.90% for this year.

The company has 22.10M of outstanding shares and 20.28M shares were floated in the market. According to the most recent quarter its current ratio was 28.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -4.06% from the mean of 20 days, -3.07% from mean of 50 days SMA and performed -3.16% from mean of 200 days price. Company’s performance for the week was -5.93%, 2.78% for month and YTD performance remained 13.01%.


Leave a Reply

Your email address will not be published. Required fields are marked *