BioVaxys Assigned "BVAXF" By Finra As New US OTC Trading Symbol

Rhea-AI Summary

BioVaxys Technology Corp. announced the assignment of a new US OTC trading symbol, BVAXF, effective April 21, 2021, replacing the previous symbol LMNGF. The company has applied for an OTCQB listing, which is expected to be approved soon. BioVaxys specializes in developing haptenized antigen vaccines targeting both viral and oncology applications. The firm is advancing its SARS-CoV-2 vaccine technology and planning a clinical trial focusing on ovarian cancer. They hold two US patents and have additional patent applications pending.

Positive

• New US OTC trading symbol BVAXF enhances visibility.
• Application for OTCQB listing may positively impact trading.
• Developing innovative vaccines for SARS-CoV-2 and oncology.

Negative

• No guaranteed success of vaccine development.
• Regulatory approvals are uncertain and may face challenges.

VANCOUVER, BC and TORONTO, April 21, 2021 /PRNewswire/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA:5LB) (OTC:BVAXF) ("BioVaxys"), the world leader in haptenized antigen vaccines for antiviral and cancer applications, announced that effective today it has been assigned a new US OTC trading symbol of BVAXF. This replaces the prior US OTC trading symbol of LMNGF.  

BioVaxys has also applied for a OTCQB listing and anticipates approval in the upcoming weeks. The OTCQB is the mid-tier OTC equity market, which lists primarily early-stage and developing companies in the U.S. and international markets. OTCQB companies must meet certain minimum reporting standards, pass a bid test, and undergo annual verification.

About BioVaxys Technology Corp.

Based in Vancouver, BioVaxys Technology Corp. is a British Columbia-registered, early stage biotechnology company that is developing viral and oncology vaccine platforms, as well as immuno-diagnostics. The Company is advancing a SARS-CoV-2 vaccine based on its haptenized viral protein technology, and is planning a clinical trial of its haptenized autologous cell vaccine used in combination with anti-PD1 and anti-PDL-1 checkpoint inhibitors that will initially be developed for ovarian cancer. Also in development is a diagnostic for evaluating the presence or absence of a T cell immune response to SARS-CoV-2, the virus that causes COVID-19. BioVaxys has two issued US patents and two patent applications related to its cancer vaccine, and pending patent applications for its SARS-CoV-2 (Covid-19) vaccine and diagnostic technologies. BioVaxys common shares are listed on the CSE under the stock symbol "BIOV" and trades on the Frankfurt Bourse (FRA: 5LB) and US OTC: BVAXF

ON BEHALF OF THE BOARD

Signed "James Passin"

James Passin, CEO
+1 646 452 7054

Cautionary Statements Regarding Forward Looking Information

This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, completion of the murine model study, regulatory approval for a Phase I study of its BVX-0320 Vaccine Candidate in humans and the overall development of BioVaxys' vaccines, including any haptenized SARS-Cov-2 protein vaccine. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those expressed or implied in such forward-looking statements.

These forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates, primarily the assumption that BioVaxys will be successful in developing and testing vaccines, that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies including, primarily but without limitation, the risk that BioVaxys' vaccines will not prove to be effective and/ or will not receive the required regulatory approvals. With regards to BioVaxys' business, there are a number of risks that could affect the development of its biotechnology products, including, without limitation, the need for additional capital to fund clinical trials, its lack of operating history, uncertainty about whether its products will complete the long, complex and expensive clinical trial and regulatory approval process for approval of new drugs necessary for marketing approval, uncertainty about whether its autologous cell vaccine immunotherapy can be developed to produce safe and effective products and, if so, whether its vaccine products will be commercially accepted and profitable, the expenses, delays and uncertainties and complications typically encountered by development stage biopharmaceutical businesses, financial and development obligations under license arrangements in order to protect its rights to its products and technologies, obtaining and protecting new intellectual property rights and avoiding infringement to third parties and their dependence on manufacturing by third parties.

The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Media Contacts BioVaxys Technology Corp.

Nikita Sachdev
Luna PR
info@lunapr.io

 

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SOURCE BioVaxys Technology Corp.

FAQ

What does the new trading symbol BVAXF mean for BioVaxys investors?

The new trading symbol BVAXF may enhance BioVaxys's visibility and trading activity in the OTC market.

Why did BioVaxys change their trading symbol from LMNGF to BVAXF?

BioVaxys changed their trading symbol to BVAXF to better represent their brand and align with their market strategy.

What is the significance of BioVaxys applying for an OTCQB listing?

Applying for an OTCQB listing signifies that BioVaxys aims to meet higher reporting standards, which could attract more investors.

What developments is BioVaxys pursuing with its vaccine technology?

BioVaxys is developing vaccines for SARS-CoV-2 and planning a clinical trial for a cancer vaccine targeting ovarian cancer.

What are the risks associated with BioVaxys's vaccine development?

Risks include uncertainty in achieving regulatory approvals and potential challenges in vaccine efficacy.