M&A - CervoMed Inc.

Form Type: 10-Q

Filing Date: 2025-05-12

Corporate Action: Merger

Type: Update

Accession Number: 000143774925015966

Filing Summary: CervoMed Inc., previously known as Diffusion Pharmaceuticals Inc., completed a merger with EIP Pharma, Inc. on August 16, 2023, whereby EIP became a wholly-owned subsidiary of CervoMed. This transaction is accounted for as a reverse recapitalization under U.S. GAAP. Following the merger, CervoMed's operations primarily reflect those of EIP. The report discusses the company's financial performance for the quarter ending March 31, 2025, detailing cash and cash equivalents of $10.5 million, total assets of $38.6 million, and a net loss of approximately $4.9 million for the quarter. It mentions ongoing clinical trials, including the RewinD-LB Trial, aimed at treating patients with dementia with Lewy bodies. The company has also received a $21.3 million grant from the National Institute on Aging to support its clinical trials, and it continues to address various risks and uncertainties associated with its business operations.

Form Type: 10-K

Filing Date: 2025-03-17

Corporate Action: Merger

Type: Update

Accession Number: 000143774925007829

Filing Summary: CervoMed Inc., previously known as Diffusion Pharmaceuticals Inc., completed a merger on August 16, 2023, with EIP Pharma, Inc. as part of a Merger Agreement dated March 30, 2023. This transaction designated EIP as the accounting acquirer, and all references to CervoMed's operations from this date forward reflect the business previously conducted by EIP. The merger included a reverse stock split of the common stock in a 1-for-1.5 ratio, adjusting outstanding shares from EIP into CervoMed's common stock at an exchange ratio of 0.1151. Subsequent financial results now encompass the combined operations. The report also includes detailed financial performance metrics, auditing assertions regarding internal controls, risk factors, and projections concerning future financial conditions and market strategies. CervoMed plans to continue expanding its clinical trials and participation in relevant market activities, leveraging its recent merger to enhance capital and operational capabilities moving forward.