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 is a peptide in development for idiopathic pulmonary fibrosis, with demonstrated protective and anti-fibrotic effects in preclinical and clinical studies.

• Second candidate LTI-01 is a proenzyme for loculated pleural effusion, completed Phase 2a and 1b trials.

• Multiple preclinical candidates focused on fibrosis indications.

• Incorporated in Delaware, underwent recent acquisitions and name changes, now trading as RNTX on Nasdaq.

Financial performance and metrics

• As of May 15, 2025, market value of outstanding common stock held by non-affiliates is approximately $47.3 million, with 22,153,736 shares outstanding.

• Historical net tangible book value as of March 31, 2025 was $0.06 per share; pro forma as adjusted after offering would be $0.73 per share.

• Immediate dilution to new investors in the offering is estimated at $1.63 per share.

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

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including working capital, R&D, clinical trial costs, capital expenditures, potential acquisitions or investments, and debt repayment or refinancing.

• Proceeds may be temporarily invested in investment-grade, interest-bearing securities.

• Management retains broad discretion over allocation of proceeds.