Shares of AlphaTON Capital Corp (NASDAQ:ATON) soared 200% on Wednesday after the company announced plans to explore the tokenization of its mesothelioma treatment program, marking a first-of-its-kind effort to merge blockchain technology with oncology innovation.
The company said it has signed a non-binding letter of intent to evaluate tokenizing the single-indication economics of its TT-4 therapy for mesothelioma. The initiative aligns with AlphaTON’s goal of integrating its TON ecosystem operations with the clinical-stage pipeline of its wholly owned oncology subsidiary, Cyncado Therapeutics.
Cyncado is preparing to begin first-patient dosing of TT-4—an oral A2B receptor antagonist—in the first quarter of 2026. The treatment has produced strong preclinical data, demonstrating over 90% tumor growth inhibition when combined with anti-PD1 antibody therapy, and achieving 60% complete responses in combination treatment models.
“We are witnessing the birth of a new paradigm in biomedical innovation,” said Brittany Kaiser, Chief Executive Officer of AlphaTON Capital. “By thoughtfully integrating our digital asset capabilities with Cyncado’s compelling oncology programs, we’re not just exploring novel financing mechanisms, we’re pioneering the future of decentralized science.”
AlphaTON emphasized that the project remains exploratory, ensuring the company maintains traditional routes for drug development such as partnerships, licensing, and acquisition opportunities. Any tokenization effort would require board authorization and regulatory approval before proceeding.
The company highlighted its unique dual focus as the only Nasdaq-listed firm managing a strategic TON token treasury while simultaneously advancing cancer immunotherapy programs—a model it says could redefine how biomedical research is financed and accelerated through decentralized science principles.
AlphaTON Capital Corp stock price
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