11:51 AM EST, 12/20/2024 (MT Newswires) -- Synaptogenix ( SNPX ) shares jumped nearly 22% in recent trading on Friday after the company's board formed an independent special committee to explore strategic opportunities, including drug development platforms and new technologies and services.

The company said it will fund the opportunities with $19.6 million in cash as of Sept. 30, with about 1.3 million outstanding common shares.

Synaptogenix ( SNPX ) said it plans to develop Bryostatin-1 with a third-party partner and has submitted a grant proposal to the National Institutes of Health for its development.

Price: 3.09, Change: +0.55, Percent Change: +21.65