10:19 AM EDT, 06/12/2025 (MT Newswires) -- Third Harmonic Bio ( THRD ) said Thursday its shareholders approved the company's proposed liquidation and dissolution plan during the June 5 annual meeting.

The plan received support from 99.9% of voting shareholders, representing 83.7% of the company's outstanding common shares.

Third Harmonic said it expects to finalize the plan and make an initial shareholder distribution of about $5.30 to $5.35 per share in Q3. The company projected total distributions in the range of $5.30 to $5.44 per share, excluding potential proceeds from asset sales, including its lead candidate THB335.

As part of the liquidation process, the company said it initiated a sale process for THB335 after completing an additional dosing cohort in its phase 1 trial. THB335 showed an 85% reduction in serum tryptase in healthy volunteers given a 100mg daily dose using a new capsule formulation, with an encouraging safety profile.

Third Harmonic said it has completed the necessary clinical, toxicology and manufacturing work to support a phase 2 trial in chronic spontaneous urticaria and plans to seek US Food and Drug Administration clearance to initiate the study.

Shares of Third Harmonic Bio ( THRD ) were up 2.7% in recent trading.

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