Rein Therapeutics (RNTX) Registration Filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company developing therapies for orphan pulmonary and fibrosis indications with limited or no approved treatments.

• Lead candidate LTI-03 targets idiopathic pulmonary fibrosis; LTI-01 development delayed to focus resources on LTI-03.

• LTI-03 is in a Phase 2 trial (RENEW), currently on FDA clinical hold in the US but authorized to proceed in the UK, with initial data expected in 2026.

• Company underwent several name changes and acquisitions, most recently acquiring Lung Therapeutics and rebranding in January 2025.

Financial performance and metrics

• As of August 25, 2025, 23,547,429 shares of common stock are outstanding.

• 6,616,499 shares reserved for warrant exercises and 2,053,779 for stock options; 12,232,000 shares issuable upon conversion of Series X Preferred Stock.

• Financial statements audited by Marcum LLP, with a going concern explanatory paragraph.

Use of proceeds and capital allocation

• May receive up to $15,000,000 in gross proceeds from sales of common stock to Yorkville under the SEPA.

• Proceeds intended for advancing clinical development, business development, working capital, and general corporate purposes.

• Management has broad discretion over use of proceeds, which may not align with investor preferences.