4D pharma plc (“4D pharma”) Receives Notice of Delisting From Nasdaq
4D pharma plc (NASDAQ: LBPS) announced that it will be delisted from The Nasdaq Stock Market effective July 7, 2022, due to public interest concerns following its administration announcement on June 24, 2022. The delisting notice was issued by Nasdaq Staff based on the company's financial instability and concerns regarding the equity interests of existing shareholders. 4D pharma may appeal this decision to the Hearing Panel as per Nasdaq Listing Rule 5800 Series. The firm is known for developing Live Biotherapeutics, leveraging its proprietary MicroRx® platform.
- 4D pharma leads the development of Live Biotherapeutics, a novel class of drug.
- The company has six clinical programs under development, offering diverse therapeutic potential.
- 4D pharma will be delisted from Nasdaq effective July 7, 2022.
- Concerns regarding public interest and existing shareholder equity have impacted stock performance.
- The company was placed into administration under English law, raising additional risks.
The Staff’s determination was based on the following factors: the associated public interest concerns raised by 4D pharma’s press release dated
4D pharma may appeal the Staff’s determination to the
About 4D pharma
4D pharma is a world leader in the development of Live Biotherapeutics, a novel and emerging class of drugs, defined by the FDA as biological products that contain a live organism, such as a bacterium, that is applicable to the prevention, treatment or cure of a disease. 4D pharma has developed a proprietary platform, MicroRx®, that rationally identifies Live Biotherapeutics based on a deep understanding of function and mechanism.
4D pharma’s Live Biotherapeutic products (LBPs) are orally delivered single strains of bacteria that are naturally found in the healthy human gut. 4D pharma has six clinical programs, namely a Phase I/II study of MRx0518 in combination with KEYTRUDA® (pembrolizumab) in solid tumors, a Phase II clinical trial of MRx0518 in combination with BAVENCIO® (avelumab) in the first-line maintenance setting for urothelial carcinoma, a Phase I study of MRx0518 in a neoadjuvant setting for patients with solid tumors, a Phase I study of MRx0518 in patients with pancreatic cancer, a Phase I/II study of MRx-4DP0004 in asthma, and Blautix® in irritable bowel syndrome (IBS) which has completed a successful Phase II trial. Additional preclinical-stage programs include candidates for CNS disease, immune-inflammatory conditions and cancer. 4D pharma has a research collaboration with MSD (a tradename of Merck & Co., Inc.,
For more information, refer to https://www.4dpharmaplc.com.
Forward-Looking Statements
This announcement contains “forward-looking statements.” All statements other than statements of historical fact contained in this announcement, including without limitation statements regarding the timing of studies, are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on 4D pharma’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on 4D pharma. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting 4D pharma will be those that it anticipates.
All of 4D pharma’s forward-looking statements involve known and unknown risks and uncertainties, some of which are significant or beyond its control, and assumptions that could cause actual results to differ materially from 4D pharma’s historical experience and its present expectations or projections. The foregoing factors and the other risks and uncertainties that could cause actual results to differ materially include potential delays in the process of delisting and, if pursued by 4D pharma, the outcome of any appeal of the Staff’s determination. 4D pharma wishes to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. 4D pharma undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220628006046/en/
4D pharma
Investor Relations ir@4dpharmaplc.com
Stern Investor Relations
julie.seidel@sternir.com
neil@ibcomms.agency / michelle@ibcomms.agency
Source: 4D pharma plc
FAQ
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