Argos Therapeutics, Inc. (NASDAQ:ARGS) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Argos Therapeutics, Inc. (NASDAQ:ARGS) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

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On November 8, 2017, Argos Therapeutics, Inc. (the “Company”) received a letter from the Listing Qualifications Department (the “Staff”) of The NASDAQ Stock Market LLC (“Nasdaq”) indicating that (i) the Company has not regained compliance with the minimum $15,000,000 market value of publicly held shares requirement for continued listing on The Nasdaq Global Market (the “MVPHS Requirement”), and (ii) failure to regain compliance with the MVPHS Requirement serves as an additional basis for delisting the Company’s securities from Nasdaq.

As previously disclosed, on October 26, 2017, the Company received a letter from the Staff indicating that (i) the Company had not regained compliance with the minimum $50,000,000 market value of listed securities requirement for continued listing on The Nasdaq Global Market (the “MVLS Requirement”), and (ii) unless the Company requested a hearing before a Nasdaq Hearing Panel (“Panel”), trading of the Company’s common stock would be suspended at the opening of business on November 6, 2017. Also as previously disclosed, on November 1, 2017, the Company received a letter from the Staff indicating that (i) the Company had not regained compliance with the requirement for continued listing on the Nasdaq that the Company maintain a minimum bid price of $1.00 per share for 30 consecutive business days (the “Bid Price Rule”), (ii) the Company was not eligible for a second 180 day period to regain compliance, and (iii) failure to regain compliance with the Bid Price Rule served as an additional basis for delisting the Company’s securities from Nasdaq.

The Company has requested a hearing before a Panel at which it plans to request continued listing pending its return to compliance with the MVPHS Requirement, the MVLS Requirement and the Bid Price Rule. The Company’s hearing request has stayed the suspension of trading and delisting of the Company’s common stock pending the conclusion of the hearing process and the expiration of any additional extension period granted by the Panel. Consequently, the Company’s common stock will remain listed on The Nasdaq Global Market at least until the Panel renders a decision following the hearing, which the Company expects to occur in January 2018.

In connection with the hearing, the Company may ask the Panel to transfer its listing to The Nasdaq Capital Market to a listing “exception.” In such an event, the applicable continued listing requirements would be a market value of publicly held shares of $1,000,000, which the Company currently meets, a $1.00 per share bid price and a market value of listed securities of $35,000,000 or, alternatively, $2,500,000 in stockholders’ equity. In the event the Panel were to grant a request to transfer to The Nasdaq Capital Market, the maximum extension period that could be granted would run through April 24, 2018.

As previously reported, on May 9, 2017, the Staff notified the Company that it was not in compliance with the MVPHS Requirement for continued listing on The Nasdaq Global Market, and that the Company had 180 calendar days, or until November 6, 2017, to regain compliance with the MVPHS Requirement.


About Argos Therapeutics, Inc. (NASDAQ:ARGS)

Argos Therapeutics, Inc. (Argos) is an immuno-oncology company. The Company is focused on the development and commercialization of individualized immunotherapies for the treatment of cancer and infectious diseases based on its technology platform called Arcelis. The Company’s Arcelis technology platform utilizes biological components from a patient’s own cancer cells or virus to generate individualized immunotherapies. The Company is engaged in the development of AGS-003 for the treatment of metastatic renal cell carcinoma (mRCC), and other cancers. It is conducting a pivotal Phase III clinical trial of AGS-003 plus sunitinib or another targeted therapy for the treatment of newly diagnosed mRCC under a special protocol assessment (SPA). It is engaged in the development of AGS-004 for the treatment of Human Immunodeficiency Virus (HIV). It has conducted over three clinical trials of AGS-004, including a Phase IIb clinical trial, Phase IIa clinical trial and Phase I clinical trial.

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