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Private company

Cyclo Therapeutics, Inc.

American biological products company, incorporated in Nevada1

In its 2024 annual report the company says: “We are a clinical stage biotechnology company that develops cyclodextrin-based products for the treatment of neurodegenerative diseases. We filed a Type II Drug Master File with the U.S. Food and Drug Administration in 2014 for our lead drug candidate, Trappsol® Cyclo™ (hydroxypropyl beta cyclodextrin) as a treatment for Niemann-Pick Type C disease.”4 It is headquartered in Gainesville, Florida.1

Last updated Oct 21, 2026.

Overview

  • IndustryBiological Products, (No Diagnostic Substances)1
  • HeadquartersGainesville, Florida1
  • Incorporated inNV2
  • Business address6714 Nw 16Th Street, Suite B, Gainesville, Fl 326532
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Cyclo Therapeutics, Inc. (“we,” “our,” “us,” or the “Company”) was organized as a Florida corporation on August 9, 1990, with operations beginning in July 1992. In conjunction with a restructuring in 2000, we changed our name from Cyclodextrin Technologies Development, Inc. to CTD Holdings, Inc. We changed our name to Cyclo Therapeutics, Inc. in September 2019 to better reflect our current business, and on November 6, 2020, we reincorporated from the State of Florida to the State of Nevada.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

92.2%Gross margin5
-1862.7%Operating margin5
-1863.4%Net margin5
-21.8%Revenue growth, 20235
-421.6%Return on equity5
-$16.2MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Research and development100¢$14.2M

Out of $1.1M in revenue.5 The company lost money this year.

Financial statements

Revenue6789105$1.1M in 2023−13% since 2017
0$500.0K$1.0M$1.5M$2.0M2017: $1.2M$1.2M20172018: $1.0M$1.0M2018−18%2019: $1.0M$1.0M2019−0%2020: $903.4K$903.4K2020−10%2021: $1.6M$1.6M2021+76%2022: $1.4M$1.4M2022−13%2023: $1.1M$1.1M2023−22%
Gross profit5$992.0K in 2023−20% since 2022
0$500.0K$1.0M$1.5M2022: $1.2M$1.2M20222023: $992.0K$992.0K2023−20%
Operating income6789105-$20.1M in 2023+422% since 2017
-$30.0M-$20.0M-$10.0M02017: -$3.8M-$3.8M20172018: -$4.3M-$4.3M2018+11%2019: -$7.5M-$7.5M2019+77%2020: -$9.0M-$9.0M2020+19%2021: -$14.3M-$14.3M2021+59%2022: -$15.6M-$15.6M2022+9%2023: -$20.1M-$20.1M2023+28%
Net income6789105-$20.1M in 2023+423% since 2017
-$30.0M-$20.0M-$10.0M02017: -$3.8M-$3.8M20172018: -$4.3M-$4.3M2018+11%2019: -$7.5M-$7.5M2019+77%2020: -$8.9M-$8.9M2020+19%2021: -$14.3M-$14.3M2021+60%2022: -$15.5M-$15.5M2022+8%2023: -$20.1M-$20.1M2023+30%
Fiscal year2017201820192020202120222023
Revenue$1.2M6$1.0M7$1.0M8$903.4K9$1.6M10$1.4M5$1.1M5
Cost of revenue$132.9K6$105.0K6
Gross profit$1.2M5$992.0K5
Research and development$2.3M6$2.7M7$4.9M8$6.1M9$9.2M10$9.0M5$14.2M5
Operating expenses$15.9M10$16.9M5$21.0M5
Operating income-$3.8M6-$4.3M7-$7.5M8-$9.0M9-$14.3M10-$15.6M5-$20.1M5
Interest
Income before tax-$14.3M10-$15.5M5-$20.1M5
Income tax$06$07$08$09$010$05$05
Net income-$3.8M6-$4.3M7-$7.5M8-$8.9M9-$14.3M10-$15.5M5-$20.1M5
Earnings per share-$2.2410-$1.835-$1.235
Shares (weighted, basic)6.4M shares108.4M shares516.3M shares5

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Corporate structure

Cyclo Therapeutics, Inc. sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Cyclo Therapeutics, Inc.

  • ARMISTICE CAPITAL, LLC Filed SC 13G/A on Cyclo Therapeutics, Inc., latest Feb 14, 2024 (3 filings since Feb 10, 2023)
  • Rafael Holdings, Inc. Filed SC 13D/A on Cyclo Therapeutics, Inc., latest Oct 24, 2023 (3 filings since May 11, 2023)
  • Cyclo Therapeutics, Inc. Gainesville, Florida
    • Cameo Merger Sub, Inc. Subsidiary · Delaware, United States
    • Cyclodextrin Technologies Development, Inc. Subsidiary · Florida, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Cyclo Therapeutics, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$159.1K5 Dec 31, 2023$156.7K5 Dec 31, 2022+1.5%
Accumulated depreciation$120.8K5 Dec 31, 2023$101.5K5 Dec 31, 2022+19.0%
Property and equipment, net$38.3K5 Dec 31, 2023$55.2K5 Dec 31, 2022−30.5%
Operating-lease assets (leased space)$890.9K5 Dec 31, 2023$1.5K5 Dec 31, 2022+60508.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$9.2M5 Dec 31, 2023$1.5M5 Dec 31, 2022+499.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$254.4K5 Dec 31, 2023$254.5K5 Dec 31, 2022−0.1%

Leadership

Who has led Cyclo Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ce Rick Strattan2010–2012
  2. N. Scott Fine2016–2024

Chief financial officer

  1. Joshua M. Fine2019–2024
201520202025
Board members and other officers (14)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Cameo Merger Sub, Inc. Delaware3
  • Cyclodextrin Technologies Development, Inc. Florida3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • CTD HOLDINGS INCNov 30, 2000 to Sep 30, 20192
  • CYCLODEXTRIN TECHNOLOGIES DEVELOPMENT INCAug 14, 1996 to Mar 30, 20002

Timeline

  1. Mar 26, 20258-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights30
  2. Mar 24, 20258-K Shareholder vote31
  3. Mar 6, 20258-K Entered a material agreement; New debt or obligation32
  4. Feb 4, 20258-K Entered a material agreement; New debt or obligation33
  5. Jan 13, 20258-K Listing notice or transfer34
  6. Jan 3, 20258-K Entered a material agreement; New debt or obligation35
  7. Dec 23, 20248-K Entered a material agreement; New debt or obligation; Other events36
  8. Dec 5, 20248-K Entered a material agreement; New debt or obligation37
  9. Nov 8, 20248-K Entered a material agreement; New debt or obligation38
  10. Oct 9, 20248-K Listing notice or transfer39
  11. Oct 8, 20248-K Entered a material agreement; New debt or obligation40
  12. Sep 9, 20248-K Entered a material agreement; New debt or obligation41
  13. Jun 8, 2016New chief executive N. Scott Fine becomes CEO14
  14. Oct 28, 2010New chief executive Ce Rick Strattan becomes CEO15

Filings

235 filings to the SEC since October 2021: 7 annual reports, 10 quarterly reports, 40 major events, 129 insider forms, 6 large holders, 43 other. The latest 20:

  1. Apr 7, 202515-12G EDGAR
  2. Mar 26, 20258-K EDGAR
  3. Mar 26, 202525-NSE EDGAR
  4. Mar 24, 20258-K EDGAR
  5. Mar 6, 20258-K EDGAR
  6. Mar 3, 20254 EDGAR
  7. Mar 3, 20254 EDGAR
  8. Mar 3, 20254 EDGAR
  9. Mar 3, 20254 EDGAR
  10. Mar 3, 20254 EDGAR
  11. Mar 3, 20254 EDGAR
  12. Mar 3, 20254 EDGAR
  13. Feb 28, 20254 EDGAR
  14. Feb 14, 2025UPLOAD EDGAR
  15. Feb 4, 20258-K EDGAR
  16. Jan 13, 20254 EDGAR
  17. Jan 13, 20258-K EDGAR
  18. Jan 3, 20258-K EDGAR
  19. Dec 23, 20248-K EDGAR
  20. Dec 18, 2024CORRESP EDGAR

The 235 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

28 open-market trades by officers, directors and large owners since October 2021: 28 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 1, 2023Rafael Holdings, Inc.10% ownerBuy4,000,000$1.25$5.0MForm 4
Apr 20, 2023TATE JEFFREYChief Operating OfficerBuy29,941$0.71$21.3KForm 4
Apr 20, 2023FINE N SCOTTChief Executive OfficerBuy299,402$0.71$212.6KForm 4
Apr 20, 2023Sieger MarkusDirectorBuy59,881$0.71$42.5KForm 4
Apr 20, 2023Ostronic Francis PatrickDirectorBuy59,881$0.71$42.5KForm 4
Sep 21, 2022Ostronic Francis PatrickDirectorBuy5,000$1.76$8.8KForm 4
May 20, 2022Ostronic Francis PatrickDirectorBuy5,000$2.04$10.2KForm 4
May 16, 2022TATE JEFFREYChief Operating OfficerBuy3,000$2.12$6.4KForm 4
Apr 29, 2022TATE JEFFREYChief Operating OfficerBuy1,365$2.71$3.7KForm 4
Apr 28, 2022TATE JEFFREYChief Operating OfficerBuy635$2.50$1.6KForm 4
Mar 29, 2022Sieger MarkusDirectorBuy10,000$2.73$27.3KForm 4
Feb 7, 2022FINE N SCOTTChief Executive OfficerBuy10,334$3.58$37.0KForm 4
Jan 24, 2022Ostronic Francis PatrickDirectorBuy2,000$3.75$7.5KForm 4
Jan 19, 2022FINE N SCOTTChief Executive OfficerBuy5,000$3.89$19.4KForm 4
Jan 19, 2022Ostronic Francis PatrickDirectorBuy1,132$4.00$4.5KForm 4
Jan 14, 2022Ostronic Francis PatrickDirectorBuy1,731$4.00$6.9KForm 4
Jan 14, 2022Ostronic Francis PatrickDirectorBuy2,137$4.00$8.5KForm 4
Dec 15, 2021Ostronic Francis PatrickDirectorBuy3,000$3.90$11.7KForm 4
Dec 15, 2021FINE N SCOTTChief Executive OfficerBuy5,000$3.89$19.4KForm 4
Dec 10, 2021Ostronic Francis PatrickDirectorBuy5,000$4.40$22.0KForm 4

All 28 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Cyclo Therapeutics, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCyclo Therapeutics, Inc.1
  • CIK0000922247
  • Employer ID (EIN)59-30297431
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inNevada1
  • Fiscal year endsDecember 311
  • Industry code (SIC)2836 Biological Products, (No Diagnostic Substances)1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address6714 Nw 16Th Street, Suite B, Gainesville, FL 326531
  • Mailing addressPo Box 1180, Alachua, FL 32616-11801
  • Phone386-418-80601
  • Shares outstanding28,768,055 as of Nov 12, 202413
  • Public float$17.2M as of Jun 30, 20235
  • On EDGAR sinceMay 15, 19961
  • Filings698 in all: 4 (284), 8-K (97), 10-Q (50), 10QSB (37), UPLOAD (20), 3 (19), CORRESP (18), 10-K (16)1
    All 49 form types

    10KSB (12), D (12), S-8 (11), DEF 14A (10), SC 13G/A (10), PRE 14A (8), SC 13D (8), 425 (6), EFFECT (6), S-1/A (6), SC 13D/A (6), SC 13G (6), 10-K/A (5), S-1 (5), 424B5 (4), NT 10-Q (4), 10-Q/A (3), 424B3 (3), 10KSB/A (2), 10QSB/A (2), 424B4 (2), 8-K/A (2), NT 10-K (2), PRER14C (2), S-3 (2), S-8 POS (2), SB-2/A (2), 15-12G (1), 25-NSE (1), 4/A (1), 8-A12B (1), ARS (1), CERT (1), DEF 14C (1), POS AM (1), PRE 14C (1), RW (1), S-1MEF (1), S-3/A (1), S-4 (1), S-4/A (1)

  • Latest filingsAnnual report (10-K) Mar 18, 2024
    Quarterly report (10-Q) Nov 14, 2024
    Proxy statement (DEF 14A) Jun 13, 2023
    Latest 8-K (8-K) Mar 26, 2025

Sources

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