Full Press Release Details
| Therapix Biosciences
Biosciences Reports Third
2018 Financial Results and
AVIV, Israel, Dec. 3, 2018 /PRNewswire/ -- Therapix Biosciences Ltd. (Nasdaq: TRPX) (the "Company" or "Therapix"),
a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, issued today its
financial results for the three and nine months ended September 30, 2018. The functional currency of the Company is New Israeli
Shekel; for presentation purposes, the financial data herein is presented in USD).
Update and Developments in the Company's Clinical R&D Programs:
Cognitive Impairment (MCI).
previously described, THX-150 is a pharmaceutical composition of dronabinol (synthetic 9-tetrahydracannabinol) with or
without palmitoylethanolamide (PEA) along with a selected antibacterial agent that may possess synergy potential. Our objective
is to use our entourage technology in association with THC to potentially increase the efficacy of existing antibiotic drugs especially
in antibiotic-resistant bacterial strains. Moreover, we began an additional set of in vitro studies intended to evaluate the mechanism
of action attributed to THX-150 antibacterial effect. In addition, the Company continues its animal study of a microbial infection
to test the potential efficacy and safety of THX-150.
STATEMENTS OF FINANCIAL POSITION
on an effective exchange rate of 3.627 NIS/USD as of September 30, 2018)
| September 30, | December 31, | |||||||||||
| 2018 | 2017 | 2017 | ||||||||||
| Unaudited | Audited | |||||||||||
| USD in thousands | ||||||||||||
| ASSETS | ||||||||||||
| CURRENT ASSETS: | ||||||||||||
| Cash | 2,027 | 10,735 | 9,195 | |||||||||
| Restricted cash | 10 | 35 | 24 | |||||||||
| Accounts receivable | 542 | 188 | 278 | |||||||||
| Convertible loans | 2,353 | - | - | |||||||||
| 4,932 | 10,958 | 9,497 | ||||||||||
| NON-CURRENT ASSETS: | ||||||||||||
| Long-term restricted deposit | 23 | - | - | |||||||||
| Prepaid public offering costs | 53 | - | 19 | |||||||||
| Property and equipment | 50 | 31 | 50 | |||||||||
| 126 | 31 | 69 | ||||||||||
| 5,058 | 10,989 | 9,566 | ||||||||||
| LIABILITIES AND EQUITY (DEFICIT) | ||||||||||||
| CURRENT LIABILITIES: | ||||||||||||
| Trade payables | 1,294 | 565 | 1,017 | |||||||||
| Other accounts payable | 153 | 151 | 160 | |||||||||
| 1,447 | 716 | 1,177 | ||||||||||
| EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY: | ||||||||||||
| Share capital | 3,812 | 3,812 | 3,812 | |||||||||
| Share premium | 37,041 | 36,612 | 36,612 | |||||||||
| Reserve from share-based payment transactions | 5,390 | 4,616 | 5,311 | |||||||||
| Foreign currency translation reserve | 497 | 649 | 782 | |||||||||
| Transactions with non-controlling interests | 261 | 261 | 261 | |||||||||
| Accumulated deficit | (43,390 | ) | (35,677 | ) | (38,389 | ) | ||||||
| Total equity | 3,611 | 10,273 | 8,389 | |||||||||
| 5,058 | 10,989 | 9,566 |
STATEMENTS OF PROFIT OR LOSS
on the average exchange rate of 3.56 NIS/USD for the nine-month period ended September 30, 2018)
| Nine months ended September 30, | Three months ended September 30, | Year ended December 31, | ||||||||||||||||||
| 2018 | 2017 | 2018 | 2017 | 2017 | ||||||||||||||||
| Unaudited | Audited | |||||||||||||||||||
| USD in thousands | ||||||||||||||||||||
| Research and development expenses | 2,344 | 1,033 | 699 | 338 | 1,943 | |||||||||||||||
| General and administrative expenses | 3,168 | 2,150 | 1,029 | 775 | 3,810 | |||||||||||||||
| 5,512 | 3,183 | 1,728 | 1,113 | 5,753 | ||||||||||||||||
| Other expenses | - | - | - | - | 1 | |||||||||||||||
| Operating loss | 5,512 | 3,183 | 1,728 | 1,113 | 5,754 | |||||||||||||||
| Finance income | (516 | ) | - | - | (80 | ) | (1 | ) | ||||||||||||
| Finance expenses | 5 | 349 | 11 | - | 491 | |||||||||||||||
| Loss | 5,001 | 3,532 | 1,739 | 1,033 | 6,244 | |||||||||||||||
| Basic and diluted loss per share attributable to equity holders of the Company | 0.04 | 0.03 | 0.01 | 0.01 | 0.05 | |||||||||||||||
| Basic and diluted loss per ADS attributable to equity holders of the Company | 1.43 | 1.31 | 0.5 | 0.3 | 2.14 |
STATEMENTS OF COMPREHENSIVE INCOME
on the average exchange rate of 3.56 NIS/USD for the nine-month period ended September 30, 2018)
| Nine months ended September 30, | Three months ended September 30, | Year ended December 31, | ||||||||||||||||||
| 2018 | 2017 | 2018 | 2017 | 2017 | ||||||||||||||||
| Unaudited | Audited | |||||||||||||||||||
| USD in thousands | ||||||||||||||||||||
| Net loss | 5,001 | 3,532 | 1,739 | 1,033 | 6,244 | |||||||||||||||
| Amounts that will not be reclassified subsequently to profit or loss: | ||||||||||||||||||||
| Adjustments arising from translation financial statements from functional currency to presentation currency | 285 | (328 | ) | (65 | ) | 111 | (461 | ) | ||||||||||||
| Total other comprehensive (income) loss | 285 | (328 | ) | (65 | ) | 111 | (461 | ) | ||||||||||||
| Total comprehensive loss | 5,286 | 3,204 | 1,674 | 1,144 | 5,783 |
STATEMENTS OF CHANGES IN EQUITY
on the average exchange rate of 3.56 NIS/USD for the nine-month period ended September 30, 2018)
| Attributable to equity holders of the Company | ||||||||||||||||||||||||||||
| Reserve | ||||||||||||||||||||||||||||
| from share- | Foreign | Transactions | ||||||||||||||||||||||||||
| based | currency | with non- | ||||||||||||||||||||||||||
| Share | Share | payment | translation | controlling | Accumulated | |||||||||||||||||||||||
| capital | premium | transactions | reserve | interests | deficit | Total | ||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||||||||
| USD in thousands | ||||||||||||||||||||||||||||
| Balance at January 1, 2018 | 3,812 | 36,612 | 5,311 | 782 | 261 | (38,389 | ) | 8,389 | ||||||||||||||||||||
| Loss | - | - | - | - | - | (5,001 | ) | (5,001 | ) | |||||||||||||||||||
| Other comprehensive loss | - | - | - | (285 | ) | - | - | (285 | ) | |||||||||||||||||||
| Total comprehensive loss | - | - | - | (285 | ) | - | (5,001 | ) | (5,286 | ) | ||||||||||||||||||
| Share-Based payment | - | - | 508 | - | - | - | 508 | |||||||||||||||||||||
| Expiration of share options | - | 429 | (429 | ) | - | - | - | - | ||||||||||||||||||||
| Balance at September 30, 2018 | 3,812 | 37,041 | 5,390 | 497 | 261 | (43,390 | ) | 3,611 |
STATEMENTS OF CHANGES IN EQUITY
on the average exchange rate of 3.56 NIS/USD for the nine-month period ended September 30, 2018)
| Attributable to equity holders of the Company | ||||||||||||||||||||||||||||
| Reserve | ||||||||||||||||||||||||||||
| from share- | Foreign | Transactions | ||||||||||||||||||||||||||
| based | currency | with non- | ||||||||||||||||||||||||||
| Share | Share | payment | translation | controlling | Accumulated | |||||||||||||||||||||||
| capital | premium | transactions | reserve | interests | deficit | Total | ||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||||||||
| USD in thousands | ||||||||||||||||||||||||||||
| Balance at January 1, 2017 | 1,087 | 26,600 | 4,449 | 321 | 261 | (32,145 | ) | 573 | ||||||||||||||||||||
| Loss | - | - | - | - | - | (3,532 | ) | (3,532 | ) | |||||||||||||||||||
| Other comprehensive income | - | - | - | 328 | - | - | 328 | |||||||||||||||||||||
| Total comprehensive income (loss) | - | - | - | 328 | - | (3,532 | ) | (3,204 | ) | |||||||||||||||||||
| Share-Based payment | - | - | 167 | - | - | - | 167 | |||||||||||||||||||||
| Issuance of shares (1) | 189 | 769 | - | - | - | - | 958 | |||||||||||||||||||||
| Issuance of shares (2) | 2,207 | 7,928 | - | - | - | - | 10,135 | |||||||||||||||||||||
| Issuance of shares (3) | 329 | 1,315 | - | - | - | - | 1,644 | |||||||||||||||||||||
| Balance at September 30, 2017 | 3,812 | 36,612 | 4,616 | 649 | 261 | (35,677 | ) | 10,273 |
STATEMENTS OF CHANGES IN EQUITY
on the average exchange rate of 3.56 NIS/USD for the nine-month period ended September 30, 2018)
| Attributable to equity holders of the Company | ||||||||||||||||||||||||||||
| Reserve | ||||||||||||||||||||||||||||
| from share- | Foreign | Transactions | ||||||||||||||||||||||||||
| based | currency | with non- | ||||||||||||||||||||||||||
| Share | Share | payment | translation | controlling | Accumulated | |||||||||||||||||||||||
| capital | premium | transactions | reserve | interests | deficit | Total | ||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||||||||
| USD in thousands | ||||||||||||||||||||||||||||
| Balance at June 30, 2018 | 3,812 | 36,989 | 5,310 | 432 | 261 | (41,651 | ) | 5,153 | ||||||||||||||||||||
| Loss | - | - | - | - | - | (1,739 | ) | (1,739 | ) | |||||||||||||||||||
| Other comprehensive income | - | - | - | 65 | - | - | 65 | |||||||||||||||||||||
| Total comprehensive income (loss) | - | - | - | 65 | - | (1,739 | ) | (1,674 | ) | |||||||||||||||||||
| Share-based payment | - | - | 132 | - | - | - | 132 | |||||||||||||||||||||
| Expiration of share options | - | 52 | (52 | ) | - | - | - | - | ||||||||||||||||||||
| Balance at September 30, 2018 | 3,812 | 37,041 | 5,390 | 497 | 261 | (43,390 | ) | 3,611 |
STATEMENTS OF CHANGES IN EQUITY
on the average exchange rate of 3.56 NIS/USD for the nine-month period ended September 30, 2018)
| Attributable to equity holders of the Company | ||||||||||||||||||||||||||||
| Reserve | ||||||||||||||||||||||||||||
| from share- | Foreign | Transactions | ||||||||||||||||||||||||||
| based | currency | with non- | ||||||||||||||||||||||||||
| Share | Share | payment | translation | controlling | Accumulated | |||||||||||||||||||||||
| capital | premium | transactions | reserve | interests | deficit | Total | ||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||||||||
| USD in thousands | ||||||||||||||||||||||||||||
| Balance at June 30, 2017 | 3,812 | 36,612 | 4,584 | 760 | 261 | (34,644 | ) | 11,385 | ||||||||||||||||||||
| Loss | - | - | - | - | - | (1,033 | ) | (1,033 | ) | |||||||||||||||||||
| Other comprehensive loss | - | - | - | (111 | ) | - | - | (111 | ) | |||||||||||||||||||
| Total comprehensive loss | - | - | - | (111 | ) | - | (1,033 | ) | (1,144 | ) | ||||||||||||||||||
| Share-based payment | - | - | 32 | - | - | - | 32 | |||||||||||||||||||||
| Balance at September 30, 2017 | 3,812 | 36,612 | 4,616 | 649 | 261 | (35,677 | ) | 10,273 |
STATEMENTS OF CHANGES IN EQUITY
on the average exchange rate of 3.56 NIS/USD for the nine-month period ended September 30, 2018)
| Attributable to equity holders of the Company | ||||||||||||||||||||||||||||
| Reserve | ||||||||||||||||||||||||||||
| from share- | Foreign | Transactions | ||||||||||||||||||||||||||
| based | currency | with non- | ||||||||||||||||||||||||||
| Share | Share | payment | translation | controlling | Accumulated | |||||||||||||||||||||||
| capital | premium | transactions | reserve | interests | deficit | Total | ||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||||||||
| USD in thousands | ||||||||||||||||||||||||||||
| Balance at January 1, 2017 | 1,087 | 26,600 | 4,449 | 321 | 261 | (32,145 | ) | 573 | ||||||||||||||||||||
| Loss | - | - | - | - | - | (6,244 | ) | (6,244 | ) | |||||||||||||||||||
| Other comprehensive income | - | - | - | 461 | - | - | 461 | |||||||||||||||||||||
| Total comprehensive income (loss) | - | - | - | 461 | - | (6,244 | ) | (5,783 | ) | |||||||||||||||||||
| Share-Based payment | - | - | 862 | - | - | - | 862 | |||||||||||||||||||||
| Issuance of shares (1) | 189 | 769 | - | - | - | - | 958 | |||||||||||||||||||||
| Issuance of shares (2) | 2,207 | 7,928 | - | - | - | - | 10,135 | |||||||||||||||||||||
| Issuance of shares (3) | 329 | 1,315 | - | - | - | - | 1,644 | |||||||||||||||||||||
| Balance at December 31, 2017 | 3,812 | 36,612 | 5,311 | 782 | 261 | (38,389 | ) | 8,389 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Based on the average exchange rate of 3.56 NIS/USD for the nine-month period ended September 30, 2018)
| Nine months ended | Three months ended | Year ended | ||||||||||||||||||
| September 30, | September 30, | December 31, | ||||||||||||||||||
| 2018 | 2017 | 2018 | 2017 | 2017 | ||||||||||||||||
| Unaudited | Audited | |||||||||||||||||||
| USD in thousands | ||||||||||||||||||||
| Cash flows from operating activities: | ||||||||||||||||||||
| Net loss | (5,001 | ) | (3,532 | ) | (1,739 | ) | (1,033 | ) | (6,244 | ) | ||||||||||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||||||||||||
| Depreciation and amortization | 10 | 4 | 4 | 2 | 5 | |||||||||||||||
| Gain from sale of equipment | - | - | - | - | 1 | |||||||||||||||
| Share-based payment expense | 508 | 167 | 132 | 32 | 862 | |||||||||||||||
| Finance expenses (incomes), net | 72 | 363 | 584 | (83 | ) | 525 | ||||||||||||||
| 590 | 534 | 720 | (49 | ) | 1,393 | |||||||||||||||
| Working capital adjustments: | ||||||||||||||||||||
| Increase (decrease) in accounts receivable | (282 | ) | (58 | ) | (93 | ) | 52 | (143 | ) | |||||||||||
| Decrease (increase) in trade payables | 328 | (106 | ) | 215 | (5 | ) | 349 | |||||||||||||
| Increase (decrease) in other accounts payable | - | 58 | (3 | ) | 25 | 66 | ||||||||||||||
| 46 | (106 | ) | 119 | 72 | 272 | |||||||||||||||
| Net cash used in operating activities | (4,365 | ) | (3,104 | ) | (900 | ) | (1,010 | ) | (4,579 | ) | ||||||||||
| Cash flows from investing activities: | ||||||||||||||||||||
| Increase in restricted cash | (10 | ) | (22 | ) | (10 | ) | (20 | ) | (11 | ) | ||||||||||
| Proceed from sale of equipment | - | - | - | - | 2 | |||||||||||||||
| Purchase of equipment | (12 | ) | (22 | ) | - | (15 | ) | (44 | ) | |||||||||||
| Grant of convertible loan | (2,125 | ) | - | (1,625 | ) | - | - | |||||||||||||
| Net cash used in investing activities | (2,147 | ) | (44 | ) | (1,635 | ) | (35 | ) | (53 | ) | ||||||||||
| Cash flows from financing activities: | ||||||||||||||||||||
| Prepaid public offering costs | (36 | ) | - | - | - | (18 | ) | |||||||||||||
| Proceeds from issuance of share capital (net of issuance expenses) | - | 13,287 | - | 120 | 13,193 | |||||||||||||||
| Net cash provided by (used in) financing activities | (36 | ) | 13,287 | - | 120 | 13,175 | ||||||||||||||
| Exchange rate differences on cash and cash equivalents in foreign currency | (299 | ) | (365 | ) | (607 | ) | 81 | (527 | ) | |||||||||||
| Translation differences on cash and cash equivalents | (321 | ) | 285 | 66 | (205 | ) | 503 | |||||||||||||
| Increase (decrease) in cash | (7,168 | ) | 10,059 | (3,076 | ) | (1,049 | ) | 8,519 | ||||||||||||
| Cash at the beginning of the period | 9,195 | 676 | 5,103 | 11,784 | 676 | |||||||||||||||
| Cash at the end of the period | 2,027 | 10,735 | 2,027 | 10,735 | 9,195 |
(Based on the average exchange rate of 3.56 NIS/USD for the
nine-month period ended September 30, 2018)
| Nine months ended | Three months ended | Year ended | ||||||||||||||||||
| September 30, | September 30, | December 31, | ||||||||||||||||||
| 2018 | 2017 | 2018 | 2017 | 2017 | ||||||||||||||||
| Unaudited | Audited | |||||||||||||||||||
| USD in thousands | ||||||||||||||||||||
| Research and Development Expenses: | ||||||||||||||||||||
| Clinical studies | 633 | 367 | 261 | 111 | 551 | |||||||||||||||
| R&D and preclinical studies | 452 | 234 | 29 | 76 | 362 | |||||||||||||||
| Wages and related expenses | 490 | 200 | 155 | 60 | 321 | |||||||||||||||
| Share-based payment | 107 | 32 | 27 | 8 | 103 | |||||||||||||||
| Regulatory and other expenses | 601 | 163 | 217 | 46 | 276 | |||||||||||||||
| Chemistry and formulation studies | 61 | 37 | 10 | 37 | 330 | |||||||||||||||
| 2,344 | 1,033 | 699 | 338 | 1,943 | ||||||||||||||||
| General and Administrative Expenses: | ||||||||||||||||||||
| Investor relations and business expenses | 246 | 601 | 82 | 213 | 871 | |||||||||||||||
| Professional and director fees | 902 | 655 | 189 | 261 | 1,007 | |||||||||||||||
| Regulatory expenses | 55 | 31 | 20 | - | 80 | |||||||||||||||
| Business development | 910 | - | 426 | - | 74 | |||||||||||||||
| Wages and related expenses | 496 | 568 | 149 | 225 | 808 | |||||||||||||||
| Office, maintenance, rent and other expenses | 158 | 160 | 58 | 52 | 211 | |||||||||||||||
| Share-based payment | 401 | 135 | 105 | 24 | 759 | |||||||||||||||
| 3,168 | 2,150 | 1,029 | 775 | 3,810 |
| On October 22, 2018 (the "Effective Date"), the Company signed a binding letter of intent (the "LOI") to be acquired (the "Proposed Transaction") by FSD Pharma Inc. ("FSD"), a publicly-traded company on the Canadian Securities Exchange. As of the Effective Date, the all stock Proposed Transaction values the Company at approximately $48 million, pursuant to which the Company's shareholders would receive FSD stock in exchange for their shares of the Company's ADSs. The LOI by its terms lasted until November 19, 2018, but is automatically extended for additional one-week terms unless either party delivers a written notice of termination three (3) days prior to the expiration of the applicable term. | ||
| On November 23, 2018, the Company entered into a securities purchase agreement and a registration rights agreement with YA II PN Ltd. (the "Investor"), a fund managed by Yorkville Advisors Global L.P., for the sale in a private placement of up to $2.5 million in principal amount of unsecured convertible debentures (the "Debentures"). Interest on the Debentures will accrue at a rate of 5% per annum and is payable upon the maturity date of the Debentures, being 12 months from the issuance of each Debenture. The first tranche of $1.5 million of the Debentures was issued on November 23, 2018, and the Investor will receive 9,171 ADSs of the Company as a commitment fee. Two other tranches of $500,000 each of the Debentures shall be purchased by the Investor conditional on the passage of time and/or certain triggering events, including, among others, the earlier of the termination of the previously announced acquisition of the Company by FSD or March 1, 2019. The Company shall pay the Investor additional commitment fees upon issuance of each such tranche, to be paid at the Company's option in cash or ADSs of the Company. |
About Therapix Biosciences Ltd.:
Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical
company led by an experienced team of senior executives and scientists. The Company's focus is creating and enhancing a portfolio
of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the Company is currently engaged in the following
drug development programs based on repurposing an FDA-approved cannabinoid (Dronabinol): THX-110 for the treatment of Tourette
syndrome (TS), for the treatment of Obstructive Sleep Apnea (OSA), and the treatment of pain; THX-130 for the treatment of Mild
Cognitive Impairment (MCI) and Traumatic Brain Injury (TBI); THX-150 for the treatment of infectious diseases; and THX-160 for
the treatment of pain. Please visit our website for more information at www.therapixbio.com.
About TXH-110 (Previously referred to as THX-TS01 and THX-OSA01):
THX-110 is a combination drug candidate for the treatment of
Tourette syndrome, Obstructive Sleep Apnea and pain. It is composed of two components: (1) dronabinol (an FDA approved analog of
9-tetrahydracannabinol, or "THC"), and (2) palmitoylethanolamide ("PEA"), which is an endogenous fatty
acid amide that belongs to the class of nuclear factor agonists, which are molecules that regulate the expression of genes. The
combination of THC and PEA may induce a reaction known as the "Entourage Effect." The basic tenet of the entourage effect
is that cannabinoids work together, or possess synergy, and affect the body in a mechanism similar to the body's own endocannabinoid
system, which is a group of molecules and receptors that are expressed throughout the mammalian central nervous system (including
the brain) and peripheral nervous system and regulate a variety of physiological and cognitive processes. This entourage effect
may account for the pharmacological actions of PEA. Based on an activity enhancement of other physiological compounds, PEA may
indirectly stimulate the cannabinoid receptors by potentiating their affinity for a receptor or by inhibiting their metabolic degradation,
and by doing so, may increase the uptake of cannabinoid compounds, such as THC. Thus, it is speculated that the presence of the
PEA molecule could increase the efficacy of THC, while reducing the required dosage and decreasing associated deleterious adverse
THX-130 is a proprietary, innovative, formulation of ultra-low
dose dronabinol, which is intended to provide a treatment for Mild Cognitive Impairment (MCI). Recent pre-clinical animal studies
have found that an ultralow dose of THC could potentially protect the brain from long-term cognitive impairment, which may be caused
by aging, lack of oxygen supply, seizures or use of drugs. Certain pre-clinical studies also suggest that ultra-low doses of THC
cause animals to improve performance in behavioral tests that measure learning and memory.
THX-150 is a drug candidate intended for the treatment of infectious
diseases. It consists of dronabinol or dronabinol with PEA and a selected antibacterial agent, which possesses antimicrobial synergy
THX-160 is a drug candidate intended for the treatment of pain.
It consists of a CB2 receptor agonist with or without the opioid.
Forward-Looking Statements:
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other federal
securities laws. The words "believe," "anticipate," "intends," "estimate," "forecast,"
"project," "plan," "potential," "may," "should," "expect," "expected,"
"pending," and similar expressions identify forward-looking statements. Because such statements deal with future events
and are based on Therapix's current expectations, they are subject to various risks and uncertainties and actual results, performance
or achievements of Therapix could differ materially from those described in or implied by the statements in this press release.
For example, forward-looking statements include statements regarding the Company's plans with respect to its clinical trials and
its intent to report material developments and information regarding such trials. In addition, historic results of scientific research
and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or
even similar conclusions. The forward-looking statements contained or implied in this press release are subject to other risks
and uncertainties, including those discussed under the heading "Risk Factors" in Therapix's Annual Report on Form 20-F
filed with the U.S. Securities and Exchange Commission ("SEC") on April 30, 2018 and in subsequent filings with the SEC.
Except as otherwise required by law, Therapix disclaims any intention or obligation to update or revise any forward-looking statements,
which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.
For further information:
SOURCE Therapix Biosciences Ltd.
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