Are there any partnership or licensing agreements in place or being pursued that could accelerate development or de‑risk the program?

Partnership / licensing outlook:

The FDA‑approved IND for intranasal foralumab’s Phase 2a trial in Multiple System Atrophy is a pure regulatory milestone—no partnership, co‑development, or licensing agreements are mentioned in the press release or any recent filings. Tiziana has historically relied on in‑house development of its immunomodulation platform, and at present there is no disclosed external collaboration that would directly accelerate or de‑risk the MSA program. However, the company has historically pursued strategic alliances for other indications (e.g., its previous collaborations with major pharmaceutical partners for autoimmune and neuro‑inflammatory programs). Investors should therefore view the current MSA effort as fully internal for now, with any future partnership likely to be disclosed as a separate press release or SEC filing.

Trading implications:

The IND approval alone removes a key regulatory hurdle and reduces early‑stage execution risk, which is a positive catalyst for the stock. In the absence of a partner, the program’s risk profile remains tied to Tiziana’s own cash runway and ability to fund a Phase 2a trial (estimated $10‑15 M). If the company can demonstrate favorable safety/early efficacy data, it will become a much more attractive acquisition target or licensing prospect, potentially prompting a future partnership that could significantly de‑risk the program and boost valuation. Traders could consider a short‑to‑mid‑term bullish position (e.g., buying on a dip after the news) while monitoring cash burn and any upcoming press releases for partnership announcements, which would serve as a catalyst for a rapid price uplift. Conversely, if cash constraints become apparent, a short‑term pull‑back may be warranted until the next data read‑out (likely Q3‑2025) or a formal partnership is announced.