Opexa Therapeutics, Inc. (NASDAQ:OPXA) Files An 8-K Other EventsItem 8.01 Other Events.
On July 18, 2017, Opexa Therapeutics, Inc. (the “Company”) received written notice from the listing qualifications department staff of the NASDAQ Stock Market (“NASDAQ”) that it has been granted an extension until November 13, 2017 (the “Extension Date”) to regain compliance with the minimum stockholders’ equity continued listing requirement of $2,500,000.
As previously disclosed, on May 16, 2017, the Company received a staff deficiency letter from NASDAQ notifying it that the stockholders’ equity of $2,241,693 as reported in its Quarterly Report on Form 10-Q for the period ended March 31, 2017 was below the minimum stockholders’ equity of $2,500,000 required for continued listing on the NASDAQ Capital Market as set forth in NASDAQ listing rule 5550(b)(1). The Company was provided 45 calendar days, or until June 30, 2017, to submit a plan to regain compliance with the minimum stockholders’ equity standard, and the Company timely submitted such a plan.
In the event the Company does not meet the compliance standard at the Extension Date, the NASDAQ staff will provide written notification that its securities will be delisted. At that time, the Company may appeal the NASDAQ staff’s determination to a Hearings Panel.
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.