Clear Street Issues 1.8M Shares at $2.92 Each
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 20 2026
0mins
Should l Buy THAR?
The offering is expected to close on or about January 21, subject to the satisfaction of customary closing conditions. The transaction includes the issuance of 1.8M shares of its common stock at a price of $2.92 per share and pre-funded warrants to purchase up to 17M shares of common stock at a price of $2.9199 per pre-funded warrant. Clear Street is acting as sole bookrunner for the offering.
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Analyst Views on THAR
About THAR
Tharimmune, Inc. is a clinical-stage biotechnology company. The Company is engaged in developing therapeutic candidates for inflammatory and immunologic conditions with unmet need. It has a transmucosal film product, TH104, is a Phase II ready clinical candidate and an oral biologic as well as two bispecific biologics in pre-clinical development. TH104 is a transmucosal buccal film embedded with the active compound nalmefene onto a thin film which adheres inside of the mouth on the cheek and biodegrades. TH104 is an ideal product candidate for multiple liver-related and other pruritogenic inflammatory conditions. It is also developing an early-stage pipeline of novel therapeutic candidates targeting validated high value immune-oncology targets including human epidermal growth factor receptor 2, human EGF receptor 3 and programmed cell death protein. The Company is developing antibodies, including bispecific antibodies, antibody drug conjugates, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Canton Strategic Holdings Rebrands and Launches New Ticker Symbol CNTN
- Company Rebranding: Tharimmune, Inc. will change its name to Canton Strategic Holdings, Inc. on February 18, 2026, with its common stock trading under the new ticker symbol CNTN on NASDAQ, marking a significant transformation in its digital asset strategy.
- Digital Asset Strategy: The company established a differentiated digital asset treasury strategy through a $545 million private placement, aiming to drive institutional adoption of the Canton Network by acquiring Canton Coin and operating a Super Validator, thereby enhancing its market competitiveness.
- Ecosystem Development: The expansion of institutional leadership on the company's Board of Directors and the commitment to develop quarterly ecosystem reporting demonstrate its capability to strengthen the Canton ecosystem while delivering sustained value for shareholders.
- Market Potential: The Canton Network's privacy configurations and modernization of financial infrastructure are attracting global enterprises, particularly in tokenizing U.S. Treasury securities and implementing on-chain payroll, indicating the company's pivotal role in the digitization of financial markets.
See More
Tharimmune Appoints New Chairman and COO
- Executive Changes: Tharimmune announced that CEO Mark Wendland will become Chairman effective February 5, 2026, succeeding Vincent LoPriore, who has served as Chairman since May 2025 and will remain on the board, ensuring continuity and stability in governance.
- New COO Appointment: Angela Radkowski has been appointed as Chief Operating Officer, tasked with overseeing operational control functions and enterprise processes, bringing valuable management insights and efficiency improvements from her previous roles at DRW Holdings and Citadel LLC.
- Positive Market Reaction: Tharimmune's stock price rose 7.63% in pre-market trading to $4.23, reflecting investor optimism regarding the new executive appointments, which may signal future growth potential for the company.
- Strategic Implications: This executive transition not only strengthens internal management but also positions Tharimmune to enhance its competitiveness in the biotechnology sector, particularly in a rapidly evolving market landscape.
See More
Leadership Expansion Supports Canton Network Strategy Execution
- Leadership Changes: Tharimmune has appointed Mark Wendland as Chairman of the Board and Angela Radkowski as Chief Operating Officer, aiming to enhance operational efficiency and market competitiveness in executing the Canton Network strategy.
- Strategic Execution: Angela Radkowski will oversee operational control functions and enterprise processes, particularly implementing the Canton Network's quarterly research initiative and Super Validator activation, which is expected to accelerate institutional adoption and value creation.
- Background Experience: Radkowski brings extensive operational and financial system experience from DRW Holdings and Citadel, and her appointment is seen as a strategic move to strengthen leadership at a pivotal moment, optimizing the company's strategy in the digital asset space.
- Digital Asset Strategy: Since November 2025, Tharimmune has established a unique digital asset treasury strategy, planning to drive institutional utility and adoption in capital markets through Canton Coin acquisition and Super Validator operations, further solidifying its market position.
See More
Leadership Expansion Supports Canton Network Strategy Execution
- Leadership Changes: Tharimmune has appointed Mark Wendland as Chairman of the Board and Angela Radkowski as Chief Operating Officer, aiming to enhance the company's governance structure and operational efficiency in executing its digital asset strategy aligned with the Canton Network.
- Strengthened Strategy Execution: Angela Radkowski's extensive experience at DRW Holdings and Citadel will support Tharimmune's operational control and enterprise processes, particularly in implementing the quarterly research initiative and activating the Super Validator, which is expected to accelerate institutional adoption of the Canton Network.
- Digital Asset Strategy: Since establishing its unique digital asset treasury strategy in November 2025, Tharimmune plans to drive institutional utility and adoption across capital markets through Canton Coin acquisition and operating as a Super Validator, thereby enhancing shareholder value.
- Market Positioning: As the first publicly traded company supported by the Canton Foundation, Tharimmune's strategy focuses not only on digital assets but also on clinical-stage biotech research and development, showcasing its pioneering role in the digital transformation of financial markets.
See More
New Directors Strengthen Governance as Company Advances Canton Network Infrastructure
- New Board Members: Tharimmune appointed former CFTC Commissioner Jill Sommers and DRW COO William Wiley to its Board effective February 1, 2026, aiming to enhance governance and advance the Canton Network's financial infrastructure modernization through their regulatory and market expertise.
- Rich Regulatory Experience: Sommers brings nearly 30 years of experience in derivatives and financial markets, having served as a CFTC Commissioner, and her addition is expected to strengthen Tharimmune's strategic capabilities in compliance and blockchain financial systems, bolstering the company's leadership in the digital asset space.
- Global Operations Leadership: Wiley's extensive background in capital markets and global operations, particularly his management experience at DRW's multi-asset electronic trading platform, will provide crucial support for Tharimmune's digital asset strategy and drive investment in applications on the Canton Network.
- Digital Asset Strategy: Tharimmune has implemented a digital asset treasury strategy since November 2025, planning to drive institutional utility and adoption in capital markets through Canton Coin acquisitions and its role as a Super Validator, further solidifying its market position in the blockchain sector.
See More
Tharimmune Approved as Super Validator on Canton Network
- Super Validator Role: Tharimmune has been approved as a super validator on the Canton Network, processing over 700,000 daily transactions with a monthly volume of $9 trillion, thereby enhancing its competitive edge in the digital asset space.
- Successful Fundraising: The company completed a direct offering worth approximately $55 million on January 23, 2026, issuing 1.80 million shares of common stock, with proceeds aimed at expanding its Canton digital asset strategy and general corporate purposes.
- Clinical Candidate Progress: TH104, Tharimmune's lead clinical candidate, has completed its Phase 1 trial and is ready for Phase 2, targeting ultrapotent opioid exposure and chronic pruritus in primary biliary cholangitis patients.
- Positive FDA Feedback: TH104 received constructive guidance from the FDA, planning to integrate specific technical elements to optimize its prophylactic program against ultrapotent opioids, showcasing its potential for military and chemical incident responders.
See More
Canton Strategic Holdings Rebrands and Launches New Ticker Symbol CNTN
- Company Rebranding: Tharimmune, Inc. will change its name to Canton Strategic Holdings, Inc. on February 18, 2026, with its common stock trading under the new ticker symbol CNTN on NASDAQ, marking a significant transformation in its digital asset strategy.
- Digital Asset Strategy: The company established a differentiated digital asset treasury strategy through a $545 million private placement, aiming to drive institutional adoption of the Canton Network by acquiring Canton Coin and operating a Super Validator, thereby enhancing its market competitiveness.
- Ecosystem Development: The expansion of institutional leadership on the company's Board of Directors and the commitment to develop quarterly ecosystem reporting demonstrate its capability to strengthen the Canton ecosystem while delivering sustained value for shareholders.
- Market Potential: The Canton Network's privacy configurations and modernization of financial infrastructure are attracting global enterprises, particularly in tokenizing U.S. Treasury securities and implementing on-chain payroll, indicating the company's pivotal role in the digitization of financial markets.
See More
Tharimmune Appoints New Chairman and COO
- Executive Changes: Tharimmune announced that CEO Mark Wendland will become Chairman effective February 5, 2026, succeeding Vincent LoPriore, who has served as Chairman since May 2025 and will remain on the board, ensuring continuity and stability in governance.
- New COO Appointment: Angela Radkowski has been appointed as Chief Operating Officer, tasked with overseeing operational control functions and enterprise processes, bringing valuable management insights and efficiency improvements from her previous roles at DRW Holdings and Citadel LLC.
- Positive Market Reaction: Tharimmune's stock price rose 7.63% in pre-market trading to $4.23, reflecting investor optimism regarding the new executive appointments, which may signal future growth potential for the company.
- Strategic Implications: This executive transition not only strengthens internal management but also positions Tharimmune to enhance its competitiveness in the biotechnology sector, particularly in a rapidly evolving market landscape.
See More
Leadership Expansion Supports Canton Network Strategy Execution
- Leadership Changes: Tharimmune has appointed Mark Wendland as Chairman of the Board and Angela Radkowski as Chief Operating Officer, aiming to enhance operational efficiency and market competitiveness in executing the Canton Network strategy.
- Strategic Execution: Angela Radkowski will oversee operational control functions and enterprise processes, particularly implementing the Canton Network's quarterly research initiative and Super Validator activation, which is expected to accelerate institutional adoption and value creation.
- Background Experience: Radkowski brings extensive operational and financial system experience from DRW Holdings and Citadel, and her appointment is seen as a strategic move to strengthen leadership at a pivotal moment, optimizing the company's strategy in the digital asset space.
- Digital Asset Strategy: Since November 2025, Tharimmune has established a unique digital asset treasury strategy, planning to drive institutional utility and adoption in capital markets through Canton Coin acquisition and Super Validator operations, further solidifying its market position.
See More
Leadership Expansion Supports Canton Network Strategy Execution
- Leadership Changes: Tharimmune has appointed Mark Wendland as Chairman of the Board and Angela Radkowski as Chief Operating Officer, aiming to enhance the company's governance structure and operational efficiency in executing its digital asset strategy aligned with the Canton Network.
- Strengthened Strategy Execution: Angela Radkowski's extensive experience at DRW Holdings and Citadel will support Tharimmune's operational control and enterprise processes, particularly in implementing the quarterly research initiative and activating the Super Validator, which is expected to accelerate institutional adoption of the Canton Network.
- Digital Asset Strategy: Since establishing its unique digital asset treasury strategy in November 2025, Tharimmune plans to drive institutional utility and adoption across capital markets through Canton Coin acquisition and operating as a Super Validator, thereby enhancing shareholder value.
- Market Positioning: As the first publicly traded company supported by the Canton Foundation, Tharimmune's strategy focuses not only on digital assets but also on clinical-stage biotech research and development, showcasing its pioneering role in the digital transformation of financial markets.
See More
New Directors Strengthen Governance as Company Advances Canton Network Infrastructure
- New Board Members: Tharimmune appointed former CFTC Commissioner Jill Sommers and DRW COO William Wiley to its Board effective February 1, 2026, aiming to enhance governance and advance the Canton Network's financial infrastructure modernization through their regulatory and market expertise.
- Rich Regulatory Experience: Sommers brings nearly 30 years of experience in derivatives and financial markets, having served as a CFTC Commissioner, and her addition is expected to strengthen Tharimmune's strategic capabilities in compliance and blockchain financial systems, bolstering the company's leadership in the digital asset space.
- Global Operations Leadership: Wiley's extensive background in capital markets and global operations, particularly his management experience at DRW's multi-asset electronic trading platform, will provide crucial support for Tharimmune's digital asset strategy and drive investment in applications on the Canton Network.
- Digital Asset Strategy: Tharimmune has implemented a digital asset treasury strategy since November 2025, planning to drive institutional utility and adoption in capital markets through Canton Coin acquisitions and its role as a Super Validator, further solidifying its market position in the blockchain sector.
See More
Tharimmune Approved as Super Validator on Canton Network
- Super Validator Role: Tharimmune has been approved as a super validator on the Canton Network, processing over 700,000 daily transactions with a monthly volume of $9 trillion, thereby enhancing its competitive edge in the digital asset space.
- Successful Fundraising: The company completed a direct offering worth approximately $55 million on January 23, 2026, issuing 1.80 million shares of common stock, with proceeds aimed at expanding its Canton digital asset strategy and general corporate purposes.
- Clinical Candidate Progress: TH104, Tharimmune's lead clinical candidate, has completed its Phase 1 trial and is ready for Phase 2, targeting ultrapotent opioid exposure and chronic pruritus in primary biliary cholangitis patients.
- Positive FDA Feedback: TH104 received constructive guidance from the FDA, planning to integrate specific technical elements to optimize its prophylactic program against ultrapotent opioids, showcasing its potential for military and chemical incident responders.
See More
