TYME Technologies Reviews Potential Strategic Options

TYME Technologies Inc TYME has decided to explore potential strategic options. It has engaged Moelis & Company LLC as its financial advisor and Faegre Drinker Biddle & Reath LLP as its legal advisor.
In January, TYME announced the discontinuation of a randomized Phase II/III trial of SM-88 in combination with methoxsalen, phenytoin, and sirolimus (MPS) for metastatic pancreatic cancer upon learning that the trial sponsor terminated the study arm due to futility.
The Board's Strategic Planning Committee will act as a Transaction Committee and be led by TYME Board Member Timothy C. Tyson.
The Company does not intend to disclose additional details unless and until entered into a specific transaction.
"The goal of the strategic evaluation process is to ensure that we are exploring a range of possible options to maximize value for our stockholders. With $92 million in cash and marketable securities as of December 31, 2021, we believe that TYME is in a strong position to find an advantageous transaction," stated Richie Cunningham, Chief Executive Officer of TYME.
TYME continues to evaluate SM-88 in two separate Phase 2 investigator-sponsored studies in HR+/HER2- breast cancer and sarcoma.
Next month, a poster presentation from the Phase 2 OASIS study of SM-88 in HR+/HER2- breast cancer will be presented at the American Association for Cancer Research (AACR) Annual Meeting.
The Company is also conducting a comprehensive translational preclinical program focused on SM-88 MOA and Biomarker Identification/Validation and has engaged Evotec SE EVO to aid in executing these activities.
Price Action: TYME shares are up 2.13% at $0.35 during the market session on the last check Tuesday.

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