Biostax Corp Announces Voluntary Delisting from OTC Pink Market and SEC Deregistration
Biostax Corp (BIOX) has announced its decision to voluntarily delist from the OTC Pink marketplace and deregister from the SEC, following 76.4% shareholder approval through a Joint Written Consent. The company plans to file Form 25 with the SEC on March 15, 2025, with delisting becoming effective ten days later.
The company will simultaneously file Form 15 to deregister its common stock under the Securities Exchange Act of 1934. Management believes the current public market valuation doesn't reflect their achievements and potential, and operating as a private company will provide greater flexibility and reduce administrative costs.
Biostax's pipeline includes JKB-122, which has received FDA authorization for clinical trials in Autoimmune Hepatitis for newly diagnosed patients and Phase 2 trials for NASH and NAFLD. The company also plans an IND filing for JKB-122 as an adjunct therapy in HIV treatment.
Biostax Corp (BIOX) ha annunciato la sua decisione di ritirarsi volontariamente dal mercato OTC Pink e di disregistrarsi dalla SEC, a seguito di un'approvazione del 76,4% da parte degli azionisti tramite un consenso scritto congiunto. L'azienda prevede di presentare il Modulo 25 alla SEC il 15 marzo 2025, con il ritiro che diventerà effettivo dieci giorni dopo.
L'azienda presenterà contemporaneamente il Modulo 15 per disregistrare le sue azioni ordinarie ai sensi del Securities Exchange Act del 1934. La direzione ritiene che l'attuale valutazione di mercato pubblico non rifletta i loro successi e il potenziale, e operare come azienda privata offrirà maggiore flessibilità e ridurrà i costi amministrativi.
Il pipeline di Biostax include JKB-122, che ha ricevuto l'autorizzazione della FDA per prove cliniche in caso di epatite autoimmune per pazienti recentemente diagnosticati e per studi di Fase 2 per NASH e NAFLD. L'azienda prevede anche di presentare una richiesta IND per JKB-122 come terapia adiuvante nel trattamento dell'HIV.
Biostax Corp (BIOX) ha anunciado su decisión de retirarse voluntariamente del mercado OTC Pink y de desregistrarse de la SEC, tras la aprobación del 76,4% de los accionistas mediante un consentimiento escrito conjunto. La empresa planea presentar el Formulario 25 a la SEC el 15 de marzo de 2025, con el retiro que se hará efectivo diez días después.
La empresa también presentará simultáneamente el Formulario 15 para desregistrar sus acciones comunes bajo la Ley de Bolsa de Valores de 1934. La dirección cree que la valoración actual del mercado público no refleja sus logros y potencial, y operar como una empresa privada proporcionará mayor flexibilidad y reducirá los costos administrativos.
El pipeline de Biostax incluye JKB-122, que ha recibido autorización de la FDA para ensayos clínicos en Hepatitis Autoinmune para pacientes recién diagnosticados y ensayos de Fase 2 para NASH y NAFLD. La empresa también planea presentar una solicitud IND para JKB-122 como terapia adjunta en el tratamiento del VIH.
Biostax Corp (BIOX)는 주주 76.4%의 동의를 통해 OTC Pink 시장에서 자발적으로 상장 폐지하고 SEC에서 등록 취소하기로 결정했다고 발표했습니다. 회사는 2025년 3월 15일 SEC에 Form 25를 제출할 계획이며, 상장 폐지는 10일 후에 효력을 발생합니다.
회사는 동시에 1934년 증권 거래법에 따라 일반 주식을 등록 취소하기 위해 Form 15를 제출할 것입니다. 경영진은 현재의 공개 시장 평가가 그들의 성과와 잠재력을 반영하지 못한다고 생각하며, 비상장 회사로 운영함으로써 더 큰 유연성을 제공하고 관리 비용을 줄일 수 있을 것이라고 믿고 있습니다.
Biostax의 파이프라인에는 JKB-122가 포함되어 있으며, 이는 최근 진단된 환자를 위한 자가면역 간염 임상 시험에 대해 FDA의 승인을 받았고 NASH 및 NAFLD에 대한 2상 시험이 진행 중입니다. 회사는 또한 HIV 치료의 보조 요법으로 JKB-122에 대한 IND 제출을 계획하고 있습니다.
Biostax Corp (BIOX) a annoncé sa décision de se retirer volontairement du marché OTC Pink et de se désinscrire de la SEC, suite à une approbation de 76,4 % des actionnaires par un consentement écrit conjoint. L'entreprise prévoit de déposer le Formulaire 25 auprès de la SEC le 15 mars 2025, avec un retrait qui deviendra effectif dix jours plus tard.
L'entreprise déposera également simultanément le Formulaire 15 pour désinscrire ses actions ordinaires conformément à la Loi de 1934 sur les valeurs mobilières. La direction estime que l'évaluation actuelle du marché public ne reflète pas leurs réalisations et leur potentiel, et qu'opérer en tant qu'entreprise privée offrira plus de flexibilité et réduira les coûts administratifs.
Le pipeline de Biostax comprend JKB-122, qui a reçu l'autorisation de la FDA pour des essais cliniques dans l'hépatite auto-immune pour les patients nouvellement diagnostiqués et des essais de Phase 2 pour la NASH et la NAFLD. L'entreprise prévoit également de déposer une demande IND pour JKB-122 en tant que thérapie adjuvante dans le traitement du VIH.
Biostax Corp (BIOX) hat seine Entscheidung bekannt gegeben, sich freiwillig vom OTC Pink-Markt zurückzuziehen und sich von der SEC abzumelden, nachdem 76,4 % der Aktionäre durch eine gemeinsame schriftliche Zustimmung zugestimmt haben. Das Unternehmen plant, am 15. März 2025 das Formular 25 bei der SEC einzureichen, wobei der Rückzug zehn Tage später wirksam wird.
Das Unternehmen wird gleichzeitig das Formular 15 einreichen, um seine Stammaktien gemäß dem Securities Exchange Act von 1934 abzumelden. Das Management ist der Ansicht, dass die derzeitige öffentliche Marktbewertung ihre Erfolge und ihr Potenzial nicht widerspiegelt, und dass die Tätigkeit als privates Unternehmen mehr Flexibilität bieten und die Verwaltungskosten senken wird.
Die Pipeline von Biostax umfasst JKB-122, das von der FDA die Genehmigung für klinische Studien bei Autoimmunhepatitis für neu diagnostizierte Patienten sowie Phase-2-Studien für NASH und NAFLD erhalten hat. Das Unternehmen plant auch die Einreichung eines IND für JKB-122 als ergänzende Therapie bei der HIV-Behandlung.
- 76.4% shareholder approval for delisting indicates strong investor support
- Expected reduction in administrative costs and burden post-delisting
- FDA authorization received for multiple JKB-122 clinical trials
- Pipeline includes multiple potential therapeutic applications
- Loss of public trading market access for shareholders
- Reduced transparency and reporting requirements post-delisting
- Management admits current market valuation is unfavorable
ORLANDO, Fla., Feb. 21, 2025 (GLOBE NEWSWIRE) -- Biostax Corp (OTC Pink: BIOX) ("Biostax" or "the Company"), a biopharmaceutical company focused on developing innovative immune restoration therapies, today announced its Board of Directors has approved and the Company intends to proceed with the voluntary delisting of its common stock from the OTC Pink marketplace. This strategic decision follows strong shareholder support, with
The Company plans to file a Form 25 with the Securities and Exchange Commission (SEC) on March 15, 2025, initiating the delisting process. The delisting is expected to become effective ten days after the filing. Concurrent with the Form 25, Biostax will file a Form 15 to deregister its common stock under the Securities Exchange Act of 1934.
"After careful consideration of our strategic options, we have determined that delisting will better position Biostax to execute on our long-term growth strategy," said Noreen Griffin, Chief Executive Officer of Biostax. "We believe our current public market valuation does not adequately reflect our achievements and future potential. Operating as a private company will provide us greater flexibility to focus on advancing our promising drug candidates while reducing the administrative burden and costs associated with maintaining a public listing."
The decision aligns with Biostax's commitment to advancing its robust pipeline, including:
- JKB-122, which has received FDA authorization to proceed with clinical trials for:
- Autoimmune Hepatitis in newly diagnosed patients
- Phase 2 trials for NASH and NAFLD
- Planned IND filing for JKB-122 as an adjunct therapy in HIV treatment, targeting immune activation and chronic inflammation reduction in non-responders or patients failing current therapies
Following the effectiveness of the Form 25 filing, the Company's common stock will no longer be traded on the OTC Pink marketplace. Biostax remains committed to maintaining transparent communication with its shareholders and will provide updates on significant developments as appropriate.
About Biostax Corp
Biostax is dedicated to developing affordable, sustainable healthcare solutions focusing on immune restoration and inflammation reduction. The Company's approach targets key factors in the pathogenesis of numerous diseases, with demonstrated anti-fibrotic, immuno-modulating, and anti-inflammatory activities in preclinical models. Our mission is to develop therapies that achieve disease remission by restoring immune balance in patients with autoimmune, inflammatory, and infectious diseases, without suppressing their immune system. For more information, visit www.biostaxcorp.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding Biostax's business strategies, clinical development programs, and expectations regarding future operations. These statements are subject to various risks and uncertainties that could cause actual results to differ materially from those projected, including regulatory reviews, clinical trial outcomes, and market conditions. Biostax does not undertake any obligation to update these forward-looking statements, except as required by law. Please refer to our SEC filings for a more detailed discussion of potential risks and uncertainties.
Contact:
Noreen M. Griffin
Chief Executive Officer
Biostax Corp Email: ir@biostax.net
FAQ
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