Biodexa Regain Compliance with NASDAQ Minimum Bid Price Requirement
24 Juillet 2023 - 1:30PM
Biodexa Pharmaceuticals
PLC(“Biodexa” or the “Company”)
Biodexa Regain Compliance with NASDAQ
Minimum Bid Price Requirement
Biodexa Pharmaceuticals PLC (Nasdaq: BDRX), a
clinical-stage biopharmaceutical company developing a pipeline of
products aimed at primary and metastatic cancers of the brain,
announced today that, on July 20, 2023, it received a notification
from The Nasdaq Stock Market LLC (“Nasdaq”) confirming the Company
has cured the previously disclosed bid price deficiency, and that
the Company is in compliance with all applicable listing
standards.
The Company’s securities will continue to be
listed and traded on Nasdaq and the previously announced hearing
with the Nasdaq Hearing Panel is cancelled.
Nasdaq further notified the Company that it will
be subject to a Mandatory Panel Monitor for a period of one year
from July 20, 2023. If, within that one-year monitoring period, the
Listing Qualifications Staff finds the Company out of compliance
with the rules that was subject to the previous exception, the
Staff will issue a delisting determination letter and the Company
will have the opportunity to request a hearing with the Nasdaq
Hearings Panel.
Biodexa Pharmaceuticals PLC |
Stephen Stamp, CEO, CFO |
Tel: +44 (0)29 2048 0180 |
www.biodexapharma.com |
|
Edison Group (US Investor Relations) Alyssa Factor
Tel: +1 (860) 573 9637 Email: afactor@edisongroup.com |
|
About Biodexa Pharmaceuticals
PLC
Biodexa Pharmaceuticals PLC (listed on NASDAQ:
BDRX) is a clinical stage biopharmaceutical company developing a
pipeline of products aimed at primary and metastatic cancers of the
brain. The Company’s lead candidate, MTX110, is being studied
in aggressive rare/orphan brain cancer indications including
recurrent glioblastoma and diffuse midline glioma.
MTX110 is a liquid formulation of the histone
deacetylase (HDAC) inhibitor, panobinostat. This proprietary
formulation enables delivery of the product via convection-enhanced
delivery (CED) at potentially chemotherapeutic doses directly to
the site of the tumour, by-passing the blood-brain barrier and
avoiding systemic toxicity.
Biodexa is supported by three proprietary drug
delivery technologies focused on improving the bio-delivery and
bio-distribution of medicines. Biodexa’s headquarters and
R&D facility is in Cardiff, UK. For more information
visit www.biodexapharma.com.
Forward-Looking Statements
Certain statements in this announcement may
constitute “forward-looking statements” within the meaning of
legislation in the United Kingdom and/or United States. Such
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and are based on
management’s belief or interpretation. All statements
contained in this announcement that do not relate to matters of
historical fact should be considered forward-looking
statements.
Reference should be made to those documents that
Biodexa shall file from time to time or announcements that may be
made by Biodexa in accordance with the rules and regulations
promulgated by the SEC, which contain and identify other important
factors that could cause actual results to differ materially from
those contained in any projections or forward-looking
statements. These forward-looking statements speak only as of
the date of this announcement. All subsequent written and
oral forward-looking statements by or concerning Biodexa are
expressly qualified in their entirety by the cautionary statements
above. Except as may be required under relevant laws in the
United States, Biodexa does not undertake any obligation to
publicly update or revise any forward-looking statements because of
new information, future events or events otherwise arising.
Biodexa Pharmaceuticals (NASDAQ:BDRX)
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