Kiromic Biopharma Announces Filing of Form 12b-25

Rhea-AI Summary

Kiromic BioPharma, Inc. (NASDAQ: KRBP) has filed a Form 12b-25 with the SEC seeking a 15-day extension to submit its Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The company anticipates that the filing will occur within the extension period. Kiromic focuses on developing cell and gene therapies, leveraging its proprietary DIAMOND® AI platform to target immuno-oncology applications. The firm aims to enhance the development timeline and reduce costs of bringing innovative therapies to market.

Positive

• Request for a 15-day extension indicates proactive compliance in filing necessary financial documents.
• AI-driven DIAMOND® platform aims to speed drug development, potentially enhancing market competitiveness.

Negative

• The necessity to file for an extension may raise concerns regarding the timeliness and reliability of financial reporting.

Company Expects to File 2021 Form 10-K Prior to 15-day Extension Period Expiration

HOUSTON--(BUSINESS WIRE)-- Kiromic BioPharma, Inc. (NASDAQ: KRBP) (“Kiromic” or the “Company”), a clinical-stage fully integrated biotherapeutics company using its proprietary DIAMOND^® artificial intelligence (AI) and big data mining platform to discover and develop cell and gene therapies with a therapeutic focus on immuno-oncology and other diseases, today announces that it has filed a Form 12b-25 with the SEC to obtain a 15-calendar day extension to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “2021 Form 10-K”). The Company expects to file its 2021 Form 10-K during the 15-calendar day extension period.

About Kiromic BioPharma

Kiromic BioPharma, Inc. is a clinical-stage, fully integrated biotherapeutics company using its proprietary DIAMOND® artificial intelligence (AI) platform to discover and develop cell and gene therapies with a therapeutic focus on immuno-oncology and other diseases. Kiromic is in the process of developing a multi-indication allogeneic CAR-T cell therapy that exploits the natural potency of Gamma Delta T-cells to target solid cancers.

From its heritage as a cancer vaccine development company, Kiromic is focused on discovering, developing, and commercializing novel immuno-oncology applications through its robust product pipeline. The pipeline development is leveraged through the Company’s proprietary target discovery engine called "DIAMOND." Kiromic's DIAMOND® is where big data science meets target identification to dramatically compress the years and billions of drug development dollars required to develop a live drug. The Company maintains offices in Houston, Texas. To learn more, visit www.kiromic.com and connect with us on Twitter and LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. We make such forward-looking statements pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act, Section 21E of the Securities Exchange Act of 1934, as amended, and other federal securities laws. All statements other than statements of historical facts are forward-looking statements. These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements include, but are not limited to, statements about:

• our goals and strategies;
• our future business development, financial condition and results of operations;
• expected changes in our revenue, costs or expenditures;
• our expected timing of human clinical trials and other related milestones
• growth of and competition trends in our industry;
• our expectations regarding demand for, and market acceptance of, our products;
• our expectations regarding our relationships with investors, institutional funding partners and other parties we collaborate with;
• fluctuations in general economic and business conditions in the markets in which we operate; including those fluctuations caused by COVID-19; and
• relevant government policies and regulations relating to our industry; and
• the outcome of any pending or threatened litigation.

In some cases, you can identify forward-looking statements by terms such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond our control and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under the heading “Risk Factors” included in our Registration Statement on Form S-1 (Registration No. 333-257427) , originally filed with the Securities and Exchange Commission (SEC) on June 25, 2021, as amended, and in our Form 10-Q for the fiscal quarter ended September 30, 2021 filed with the SEC on March 10, 2022 and elsewhere in this press release. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance.

The forward-looking statements made in this report relate only to events or information as of the date on which the statements are made in this report. Except as expressly required by the federal securities laws, there is no undertaking to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220401005107/en/

Linda Phelan Dyson, MPH

Global Head, Corporate Communications

Kiromic BioPharma

ldyson@kiromic.com

M: 281-468-7683

Source: Kiromic BioPharma, Inc.

FAQ

What financial document did Kiromic BioPharma file an extension for on April 1, 2022?

Kiromic BioPharma filed for a 15-day extension to submit its Annual Report on Form 10-K for the fiscal year ended December 31, 2021.

What is the primary focus of Kiromic BioPharma?

Kiromic BioPharma focuses on developing cell and gene therapies with an emphasis on immuno-oncology.

What does the DIAMOND® platform do for Kiromic BioPharma?

The DIAMOND® platform utilizes artificial intelligence to accelerate the drug development process and reduce associated costs.

What potential issues could arise from the extension requested by Kiromic BioPharma?

The extension request may lead to concerns about the company's financial reporting timeliness and reliability.

When is Kiromic BioPharma expected to file its 2021 Form 10-K?

Kiromic BioPharma expects to file its 2021 Form 10-K during the 15-calendar day extension period.