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Channel Therapeutics Provides Announcement on 2024 Annual Report to Comply with NYSE American Listing Rules

1. Channel Therapeutics faces a going concern warning from its auditors. 2. The announcement follows their Annual Report filed on March 27, 2025. 3. Channel focuses on non-opioid pain treatments targeting sodium ion-channel NaV1.7. 4. No changes to the consolidated financial statements were made. 5. The company's therapeutic focus could attract investor attention.

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FAQ

Why Bearish?

The going concern warning indicates potential financial instability, which historically leads to stock declines.

How important is it?

The going concern warning directly affects investor confidence and future funding prospects, critical for biopharma firms.

Why Short Term?

Immediate investor reactions to financial warnings can affect shares quickly, as seen in similar biotech scenarios.

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AMGNBIIBVRTX
May 01, 2025 17:00 ET  | Source: Channel Therapeutics Corporation FREEHOLD, N.J., May 01, 2025 (GLOBE NEWSWIRE) -- Channel Therapeutics Corporation, (“Channel” or the “Company”), (NYSE American: CHRO), a pioneer in the development of non-opioid pain treatment therapeutics, today advises that, as previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on March 27, 2025, the audited financial statements contained an audit opinion from its independent registered public accounting firm that included a going concern emphasis of matter paragraph. Release of this information is required by Sections 410(h) and 610(b) of the NYSE American LLC Company Guide. This announcement does not represent any change or amendment to the Company's consolidated financial statements or to its Annual Report on Form 10-K for the year ended December 31, 2024. About Channel Channel Therapeutics Corporation is a clinical-stage biotechnology company focused on developing and commercializing novel, non-opioid, non-addictive therapeutics to alleviate pain. The Company’s initial clinical focus is to selectively target the sodium ion-channel known as NaV1.7 for the treatment of various types of chronic pain, acute and chronic eye pain and post-surgical nerve blocks. For company updates and to learn more about Channel, visit www.channeltherapeutics.com or follow us on social media. Channel Media and Investor Inquires: For Investor Inquiries:Mike MoyerManaging Director, LifeSci Advisors, LLCmmoyer@lifesciadvisors.com

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