SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Applied Molecular Transport Inc. (Nasdaq – AMTI)

BALA CYNWYD – September 21, 2023 /Globes Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Applied Molecular Transport Inc. (“AMT” or the “Company”) (Nasdaq – AMTI) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Cyclo Therapeutics, Inc. (“Cyclo Therapeutics”) (Nasdaq – CYTH) in an all-stock transaction. Under the terms of the merger agreement, AMT stockholders will receive approximately 0.174 shares of Cyclo Therapeutics in exchange for each of their shares in AMT (subject to adjustment based on AMT’s net cash at closing). Cyclo Therapeutics expects to issue approximately 7.624 million shares of Cyclo Therapeutics’ common stock to AMT shareholders, equating to approximately 25% of the combined company on a fully diluted basis.

The investigation concerns whether the AMT Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Cyclo Therapeutics is paying fair value to shareholders of the Company.

If you own shares of AMT stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at, or call toll free 855-576-4847.