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Synaptogenix announces name change to 'TAO Synergies'
TAO Synergies (TAOX), formerly Synaptogenix (SNPX), announced that it will begin trading on Nasdaq under the new ticker symbol "TAOX" on Tuesday, July 1, 2025, in accordance with its rebranding to the new name TAO Synergies, effective June 26. The company's new corporate identity aligns with its significant strategic focus on the leading AI token TAO as the cornerstone of its digital asset treasury strategy. TAO is the leading AI token by market capitalization and adoption. As part of its strategy, the company has begun staking TAO to generate revenue, capitalizing on both staking yield and the growth of the token.
Synaptogenix announces initial TAO acquisition
Synaptogenix announced its initial purchase of TAO as part of the company's cryptocurrency treasury strategy focused exclusively on artificial intelligence and machine learning. BitGo, provider of digital asset solutions, has been selected to provide qualified custody, staking and trading services for Synaptogenix's TAO holdings. BitGo will secure Synaptogenix's digital assets in regulated, insured cold storage with BitGo Trust Company and facilitate the company's planned acquisitions of TAO through its affiliated trading platforms. TAO will be staked directly from qualified custody with BitGo Trust. The initial acquisition of TAO was funded by the company's cash reserves and balance sheet.
Synaptogenix announces launch of cryptocurrency treasury strategy
Synaptogenix announced its launch of a differentiated cryptocurrency treasury strategy focused exclusively on the artificial intelligence crypto token "TAO," which is currently the top AI token by market capitalization and adoption. Well-known cryptocurrency and AI expert James Altucher will lead a TAO-based revenue generation strategy targeting staking yield and token appreciation.
Synaptogenix forms Special Committee to explore strategic opportunities
Synaptogenix announced that its Board of Directors has formed an independent Special Committee to explore strategic opportunities to create and enhance value for investors. Funding for such opportunities is supported by the company's robust financial position including $19.6 million in cash as of September 30, with approximately 1.3M common shares outstanding. "Synaptogenix holds significant cash reserves available for strategic initiatives, which could include promising drug development platforms and/or compelling new technologies and services," said Dr. Alan Tuchman, CEO of Synaptogenix. "As we explore various alternatives to our previous research and development programs, we expect to see a dramatic decline in our cash burn rate and continuing financial strength on our balance sheet." Synaptogenix would consider moving forward with its Bryostatin-1 asset in collaboration with a validating third party strategic and non-dilutive investment partner. Additionally, the company has submitted a grant proposal for the development of Bryostatin-1 with the National Institutes of Health.
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