TFF Pharmaceuticals director resigns from board By Investing.com

TFF Pharmaceuticals, Inc. (NASDAQ:TFFP), a company specializing in pharmaceutical preparations, announced the departure of Michael Patane from its Board of Directors. Mr. Patane’s resignation will take effect on June 30, 2024, as per a recent filing with the Securities and Exchange Commission (SEC).

The Austin, Texas-based company, incorporated in Delaware and operating under the name 03 Life Sciences, disclosed the change in its leadership in a Form 8-K filed on Monday. The reason for Mr. Patane’s resignation was not provided in the filing. TFF Pharmaceuticals has not immediately named a successor, and the company’s plans regarding the vacancy on the board remain undisclosed.

This development is part of the routine disclosures that publicly traded companies are required to make regarding significant corporate governance matters. Such leadership changes can be of interest to shareholders, potential investors, and market analysts who follow the company’s progress.

The information provided in this article is based on the statements made in the SEC filing by TFF Pharmaceuticals.

In other recent news, TFF Pharmaceuticals has made significant strides in its TFF TAC clinical program, receiving constructive feedback from the FDA. The company anticipates further guidance in the third quarter of 2024. TFF Pharmaceuticals has also reported accelerated patient enrollment in its ongoing Phase 2 trial of Tacrolimus Inhalation Powder (TFF TAC), with all six patients who completed the initial 12-week treatment opting to continue therapy in the safety extension phase.

Jones Trading has adjusted its outlook on TFF Pharmaceuticals’ shares, lowering the 12-month price target to $4.00 from the previous $13.00, while maintaining a Buy rating on the stock. This adjustment reflects concerns about the long-term risks associated with TFF Pharmaceuticals’ reliance on the development of a single clinical asset, TFF TAC.

In financial news, TFF Pharmaceuticals has launched a public offering of shares and warrants, expecting to raise approximately $4.8 million in gross proceeds. The company intends to use the net proceeds for working capital and general corporate purposes.

TFF Pharmaceuticals also announced positive data from its ongoing Phase 2 study evaluating TFF TAC for organ rejection prevention in lung transplant recipients. Based on these findings, the company plans to pursue an Investigational New Drug (IND) application in the United States to explore TFF TAC’s use immediately post-transplant, in preparation for a registrational trial.

InvestingPro Insights

In light of the recent leadership changes at TFF Pharmaceuticals, Inc. (NASDAQ:TFFP), current and prospective investors may consider the financial health and market performance of the company. According to real-time data from InvestingPro, TFF Pharmaceuticals holds a market capitalization of 5.14M USD, which is indicative of its size within the pharmaceutical industry. Despite an impressive revenue growth of 84.6% over the last twelve months as of Q1 2024, the company’s gross profit margin stands at a concerning -1198.52%, reflecting challenges in maintaining profitability.

InvestingPro Tips suggest that TFF Pharmaceuticals is quickly burning through cash and has not been profitable over the last twelve months. Moreover, the stock has experienced significant declines, with a 1 month price total return of -19.42% and a 3 month price total return of -74.1%. These metrics may be particularly relevant for investors considering the company’s future prospects in the context of the recent board departure.

For those seeking a deeper analysis, there are additional InvestingPro Tips available, offering insights such as cash management and stock performance trends. To explore these further, visit https://www.investing.com/pro/TFFP. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert analysis to guide investment decisions.

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