TNF Pharmaceuticals Stock More Than Doubles After Announcing Name Change To Represent Pivot Into Quantum-Class Computing

TNF Pharmaceuticals, Inc. (TNFA) announced on Wednesday that it has changed its corporate name to Q/C Technologies and will begin trading under a new ticker on the Nasdaq Capital Market starting Thursday.

TNF Pharmaceuticals stated that no action is required from current shareholders regarding the name change. The firm noted that the new name represents the company’s recent strategic pivot into quantum-class computing. The company has exclusive global rights to LightSolver’s light-speed laser processing unit (LPU), a light and laser-based computing system for application in the cryptocurrency vertical.

LPUs can reduce energy consumption by up to 90% while outperforming traditional GPUs and quantum computing in both speed and efficiency, the company said. Lighsolver’s architecture is further designed to improve security for blockchain operations and is expected to position the company at the forefront of innovation in blockchain infrastructure, the company said.

Following the announcement, TNFA shares surged by about 101% by the afternoon of Wednesday. On Stocktwits, retail sentiment around TNFA jumped from ‘bearish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume rose from ‘extremely low’ to ‘high’ levels. The stock will begin trading under the new ticker symbol QCLS starting Thursday, September 25.

The company added that it also continues to evaluate strategic options for its therapeutic programs, Isomyosamine and Supera-CBD. While Isomyosamine has potential for the treatment of chronic inflammation, Supera-CBD holds potential in managing addiction. The company is looking to realize maximum value from these assets as it undertakes the pivot into computing and blockchain infrastructure.

TNFA stock is down by 94% this year.

Read also: Harmony Biosciences Stock Slumps After Rare Genetic Disorder Drug Fails Late-Stage Study

For updates and corrections, email newsroom[at]stocktwits[dot]com.