IMAC Holdings, Inc. - BACK STOCK NEWS

IMAC Holdings (NASDAQ: BACK) has received an extension from Nasdaq until February 17, 2025 to regain compliance with Listing Rule 5250(c)(1) by filing its Q2 2024 Form 10-Q. The delay in filing is attributed to three main factors: the acquisition of assets from Theralink Technologies, the exchange of Convertible Preferred Stocks and warrants, and staffing challenges including the temporary loss of a key financial staff member. The extension does not immediately affect the company's listing or trading status on the Nasdaq Capital Market.

IMAC Holdings Inc. (Nasdaq: BACK) has launched a new subsidiary, Ignite Proteomics , introducing a groundbreaking precision oncology assay for breast cancer treatment using Reverse Phase Protein Array (RPPA) technology. This follows IMAC's acquisition of key assets from Theralink Technologies, Inc. A landmark clinical case study published in npj Precision Oncology demonstrates the power of RPPA in precision oncology.

The case study highlights a 57-year-old woman with metastatic triple-negative breast cancer who achieved a complete response to therapy guided by Ignite's RPPA-based analysis. The assay identified HER2 expression and activation, missed by conventional methods, leading to successful treatment with trastuzumab deruxtecan (T-DXd).

Ignite Proteomics offers the only commercially available and clinically validated assay measuring both expression and activated protein drug target levels in breast tumors, potentially revolutionizing targeted cancer therapies.

IMAC Holdings (NASDAQ: BACK) has received a deficiency notification from Nasdaq due to the delayed filing of its Q2 2024 Form 10-Q. This non-compliance with Nasdaq Listing Rule 5250(c)(1) does not immediately affect the company's listing on the Nasdaq Capital Market. IMAC has until October 20, 2024, to submit a compliance plan and could potentially receive an extension until February 17, 2025, to regain compliance if Nasdaq accepts the plan. The company is working to file the Form 10-Q and take necessary steps to maintain its Nasdaq listing. However, there is no guarantee of success, and IMAC could face delisting if it fails to meet the requirements within the given timeframe.

IMAC Holdings has appointed Dr. Peter Beitsch and Dr. Matthew Schwartz to its Board of Directors, effective June 26, 2024. This strategic move aims to advance IMAC’s position in proteomics and precision medicine. Dr. Schwartz, with over 18 years of experience in radiotherapy and precision oncology, and Dr. Beitsch, with a background in surgical oncology and genomics, will contribute their expertise to guide IMAC's strategic initiatives. Their appointments align with the company's mission to revolutionize cancer treatment through proteomic technologies.

IMAC Holdings announced a major leadership transition, appointing Faith Zaslavsky as CEO, succeeding Jeff Ervin. This move aims to drive forward its newly acquired assets in the proteomics and precision medicine industry.

Zaslavsky brings 23 years of experience in the genomic space, having previously served as COO and CEO of Theralink Technologies and President of Oncology at Myriad Genetics. Her leadership is expected to enhance IMAC's mission of providing personalized treatment plans for cancer patients.

IMAC's RPPA technology, proven through clinical trials as a superior indicator for drug selection in breast cancer, is set to become an essential test for various cancers. The board now consists of three independent members following the resignation of co-founders Dr. Matt Wallis and Jeff Ervin, with Ervin continuing as a transition consultant.

IMAC Holdings, Inc. (NASDAQ: BACK) has acquired the assets of Theralink in a settlement agreement, excluding certain assets, to resolve outstanding debt issues. A merger with Theralink is no longer necessary, and a termination agreement has been entered into. The Registration Statement on Form S-4 has been withdrawn. The acquisition aims to continue the precision medicine business, focusing on advancements in breast cancer diagnostics.

IMAC Holdings regains compliance with minimum bid price requirement, ensuring continued listing on Nasdaq Capital Market.

IMAC Holdings, Inc. announces a 1-for-30 reverse stock split, effective September 7, 2023, to meet Nasdaq listing requirements.

IMAC Holdings, Inc. (Nasdaq: BACK) announced a definitive securities purchase agreement with institutional and accredited investors, including existing significant investors of Theralink Technologies, Inc. The sale of preferred stock and warrants generated $4.3 million in gross proceeds, with approximately $3.0 million to be used for a loan to Theralink for sales, marketing, and general working capital purposes. The offering is under Section 4(a)(2) of the Securities Act of 1933 and/or Rule 506(b) of Regulation D, with a registration statement to be filed with the SEC for the resale of the common stock underlying the preferred stock and warrants within 45 days following the planned merger.