Scopus Biopharma Completes Recapitalization Designed To Enhance Shareholder Value

New York, New York, October 18, 2022 – Scopus BioPharma Inc. (Nasdaq: “SCPS”), a biopharmaceutical company developing transformational therapeutics for serious diseases with significant unmet medical need, announced today the completion of a series of related recapitalization transactions designed to enhance shareholder value. These transactions include the elimination of warrants to purchase approximately 21 million shares of Scopus common stock. The recapitalization also independently values Duet BioTherapeutics, Scopus’ pure play immuno-oncology subsidiary, at $25 million.