OPEXA THERAPEUTICS, INC. (NASDAQ:OPXA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01. Notice of Delisting or Failure to Satisfy Continued Listing Rule or Standard; Transfer of Listing.
OPEXA THERAPEUTICS, INC. (NASDAQ:OPXA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On April 10, 2017, Opexa Therapeutics, Inc. (the “Company”) received a letter from the listing qualifications department staff of the NASDAQ Stock Market (“NASDAQ”) notifying the Company that for the last 30 consecutive business days the bid price of the Company’s common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of NASDAQ listing rule 5550(a)(2).
In accordance with listing rule 5810(c)(3)(A), the Company has 180 calendar days, or until October 9, 2017, to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days (or such longer period of time as the NASDAQ staff may require in some circumstances, but generally not more than 20 consecutive business days) before October 9, 2017.
If the Company’s common stock does not achieve compliance by October 9, 2017, the Company may be eligible for an additional 180-day period to regain compliance if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, and provides written notice to NASDAQ of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. However, if it appears to the NASDAQ staff that the Company will not be able to cure the deficiency, or if the Company does not meet the other listing standards, NASDAQ could provide notice that the Company’s common stock will become subject to delisting. In the event the Company receives notice that its common stock is being delisted, NASDAQ rules permit the Company to appeal any delisting determination by the NASDAQ staff to a Hearings Panel.
The Company intends to actively monitor the closing bid price of its common stock between now and October 9, 2017 and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule. However, there can be no assurance that the Company will be able to regain or maintain compliance with the NASDAQ listing standards.
About OPEXA THERAPEUTICS, INC. (NASDAQ:OPXA)
Opexa Therapeutics, Inc. (Opexa) is a biopharmaceutical company. The Company is engaged in the development of a personalized immunotherapy with the potential to treat various illnesses, including multiple sclerosis (MS), as well as other autoimmune diseases, such as neuromyelitis optica (NMO). These therapies are based on its T-cell technology. The Company’s product candidates include Tcelna and OPX-212. Tcelna is an autologous T-cell immunotherapy that is being developed for the treatment of secondary progressive MS (SPMS) and is tailored to each patient’s immune response profile to myelin. Tcelna is designed to reduce the number and/or functional activity of specific subsets of myelin-reactive T-cells (MRTCs) known to attack myelin. Tcelna is manufactured using its method for the production of an autologous T-cell product. In addition to the ongoing clinical development of Tcelna, the Company is developing OPX-212 as an autologous T-cell immunotherapy for the treatment of NMO. OPEXA THERAPEUTICS, INC. (NASDAQ:OPXA) Recent Trading Information
OPEXA THERAPEUTICS, INC. (NASDAQ:OPXA) closed its last trading session down -0.064 at 0.701 with 156,492 shares trading hands.
Opexa Therapeutics, Inc. (Opexa) is a biopharmaceutical company. The Company is engaged in the development of a personalized immunotherapy with the potential to treat various illnesses, including multiple sclerosis (MS), as well as other autoimmune diseases, such as neuromyelitis optica (NMO). These therapies are based on its T-cell technology. The Company’s product candidates include Tcelna and OPX-212. Tcelna is an autologous T-cell immunotherapy that is being developed for the treatment of secondary progressive MS (SPMS) and is tailored to each patient’s immune response profile to myelin. Tcelna is designed to reduce the number and/or functional activity of specific subsets of myelin-reactive T-cells (MRTCs) known to attack myelin. Tcelna is manufactured using its method for the production of an autologous T-cell product. In addition to the ongoing clinical development of Tcelna, the Company is developing OPX-212 as an autologous T-cell immunotherapy for the treatment of NMO. OPEXA THERAPEUTICS, INC. (NASDAQ:OPXA) Recent Trading Information
OPEXA THERAPEUTICS, INC. (NASDAQ:OPXA) closed its last trading session down -0.064 at 0.701 with 156,492 shares trading hands.
