PRINCETON, N.J., Dec. 22, 2020 (Globe NEWSWIRE) — Advaxis, Inc. (Nasdaq: ADXS), a medical-stage biotechnology enterprise targeted on the improvement and commercialization of immunotherapy products and solutions, now introduced that it obtained a favourable dedication from the Nasdaq Stock Current market granting acceptance of the Company’s ask for to transfer its listing to the Nasdaq Funds Market place from the Nasdaq World wide Decide on Current market. The Company’s securities will commence trading on the Nasdaq Capital Marketplace effective at the begin of trading on December 24, 2020. The Company’s shares will keep on to trade on Nasdaq under the symbol “ADXS.”
The Company’s inventory price has traded underneath the least bid price necessary to preserve its listing on the Nasdaq Global Pick Current market (and now, the Nasdaq Cash Current market). On December 22, 2020, Advaxis obtained notification from Nasdaq that the Company has been granted an further 180-day compliance period, or until finally June 21, 2021, to get back compliance with the bare minimum $1.00 bid price for each share need of Nasdaq’s Market Rule 5550(a)(2) (the “Rule”). Nasdaq’s dedication to grant the further 180-working day compliance period was centered on the Company assembly the ongoing listing specifications of the Nasdaq Cash Marketplace with the exception of the bid cost requirement, and the Enterprise possessing offered composed notice of its intention to overcome the deficiency for the duration of the supplemental compliance period, together with effecting a reverse inventory break up if necessary.
In accordance to Nasdaq, if at any time in advance of June 21, 2021 the bid price tag of the Company’s widespread stock closes at $1.00 for every share or additional for a minimum of 10 consecutive organization days, the Organization will get back compliance with the Rule and the make any difference will be closed.
If the Corporation does not satisfy the least bid requirement throughout the more 180-working day grace time period, Nasdaq will present penned notification to the Firm that its frequent inventory will be matter to delisting. At this sort of time, the Firm may appeal the delisting willpower to a Nasdaq Hearings Panel (“Panel”). The Firm would continue to be mentioned pending the Panel’s determination. There can be no assurance that, if the Corporation does charm a subsequent delisting determination by the Employees to the Panel, that these types of charm would be productive.
Advaxis, Inc. is a medical-stage biotechnology enterprise focused on the enhancement and commercialization of proprietary Lm-primarily based antigen shipping and delivery products and solutions. These immunotherapies are dependent on a platform technology that utilizes dwell attenuated Listeria monocytogenes (Lm) bioengineered to secrete antigen/adjuvant fusion proteins. These Lm-centered strains are considered to be a important development in immunotherapy as they integrate several functions into a solitary immunotherapy and are built to accessibility and immediate antigen presenting cells to encourage anti-tumor T cell immunity, activate the immune technique with the equivalent of various adjuvants, and at the same time lower tumor security in the tumor microenvironment to enable T cells to eradicate tumors.
Forward Seeking Statements
This press launch has ahead-looking statements that are made pursuant to the safe harbor provisions within just the that means of Area 27A of the Securities Act of 1933, as amended, and Segment 21E of the Securities Trade Act of 1934, as amended. Ahead-wanting statements are any statements that convey the recent beliefs and expectations of management. Any statements contained herein that do not describe historical info are ahead-on the lookout statements that are issue to hazards and uncertainties that could cause actual effects, performance and achievements to differ materially from individuals talked over in such ahead-on the lookout statements. This sort of risks incorporate, but are not restricted to: the good results and timing of the Company’s scientific trials, which include affected individual accrual the Company’s compliance with Nasdaq’s listing procedures the Company’s capacity to build and commercialize its solutions the Company’s skill to discover license and collaboration companions and to retain existing interactions the Company’s available hard cash and its means to get hold of supplemental funding and any outcomes from the Company’s assessment of strategic transactions. These and other pitfalls are reviewed in the Company’s filings with the SEC, such as, without having limitation, its Yearly Report on Sort 10-K, submitted on December 20, 2019, as amended, and its periodic stories on Sort 10-Q and Kind 8-K. The Firm cautions audience not to position undue reliance on any forward-wanting statements, which converse only as of the day they have been built. The Firm undertakes no obligation to update or revise ahead-wanting statements whether as a consequence of new facts, long term occasions or usually, except as or else necessary by regulation.
Get hold of:
Tim McCarthy, LifeSci Advisors, LLC