Cyclo Therapeutics, Inc.: insider trades · United States · SEC (Form 4)

About Cyclo Therapeutics, Inc.

Cyclo Therapeutics, Inc. is a clinical-stage biotechnology company listed on the Nasdaq in the United States (United States), focused on cyclodextrin-based therapeutics for rare and neurological diseases. The company was formerly known as CTD Holdings, Inc. and adopted the Cyclo Therapeutics name in September 2019, underscoring its strategic pivot toward a more focused biotech story. Its operations are rooted in Florida, with a company address in Alachua, which places it within a recognizable U.S. biotech corridor even though the company remains small and highly specialized. At the center of Cyclo Therapeutics’ investment case is Trappsol® Cyclo™, a proprietary formulation of hydroxypropyl beta cyclodextrin. Management describes the asset as a science-driven program designed to help transport accumulated cholesterol out of cellular lysosomes. The lead indication is Niemann-Pick Disease Type C1 (NPC1), a rare, progressive and fatal genetic disorder that affects cholesterol handling inside cells and can damage the brain, liver, spleen, lungs and other organs. Cyclo also has an early Alzheimer’s disease program, supported by encouraging data from an expanded access setting. This gives the company a narrow but potentially meaningful pipeline, with the usual biotech profile: high clinical dependence, limited diversification, and substantial sensitivity to trial outcomes and regulatory milestones. In competitive terms, Cyclo Therapeutics is best viewed as a niche rare-disease biotech rather than a broad commercial pharmaceutical company. Its differentiation lies in the underlying mechanism and in the depth of its clinical work in NPC1, a disease area where few companies operate and where treatment options remain limited. The company states that Trappsol® Cyclo™ has orphan-drug designation in both the United States and Europe, which could be strategically important if the asset ultimately gains approval. Importantly, the product is not currently approved for any indication, so the equity story remains development-stage and event-driven. Recent corporate developments have been material. Cyclo Therapeutics has advanced its TransportNPC™ phase 3 program, including the reporting of preliminary data from an open-label sub-study in patients younger than three years old. The company also announced an agreement and plan of merger with Rafael Holdings in 2024, and later disclosed that the merger was completed following shareholder approvals in March 2025. As a result, investors should assess Cyclo Therapeutics not only as a Nasdaq-listed U.S. biotech, but also as an asset whose strategic trajectory has been shaped by a combination of clinical execution and corporate combination with Rafael. For French, Belgian and Swiss investors, Cyclo Therapeutics represents a classic small-cap biotechnology exposure: scientifically differentiated, clinically focused, and potentially value-creating, but with elevated binary risk tied to trial data, financing needs, and regulatory decisions.