Orgenesis Commences Trading on OTCQX® Best Market
Orgenesis Inc. (NASDAQ: ORGS) announced that its common stock will begin trading on the OTCQX® Best Market under the ticker symbol "ORGS" following its delisting from the Nasdaq Stock Market. The delisting resulted from the Company's failure to meet the required stockholders' equity threshold. Orgenesis plans to reapply for a Nasdaq listing as soon as practical.
The Company remains committed to maintaining high levels of corporate governance and transparency while addressing the equity shortfall. Orgenesis continues to focus on advancing its Decentralized Cell Processing (DCP) platform, which offers a cost-effective, scalable solution for producing advanced therapies at or near the point of care. The Company's partnerships with hospitals and research institutions worldwide support its mission of making cell and gene therapies more affordable and accessible.
Orgenesis Inc. (NASDAQ: ORGS) ha annunciato che le sue azioni ordinarie inizieranno a essere scambiate sul mercato OTCQX® Best Market con il simbolo ticker "ORGS", dopo essere state escluse dal Nasdaq Stock Market. L'esclusione è avvenuta a causa del mancato raggiungimento della soglia di capitale azionario richiesta. Orgenesis prevede di fare nuovamente domanda per una quotazione al Nasdaq non appena possibile.
L'azienda rimane impegnata a mantenere alti livelli di governance aziendale e trasparenza mentre affronta la carenza di capitale. Orgenesis continua a concentrarsi sullo sviluppo della sua piattaforma di Elaborazione Cellulare Decentralizzata (DCP), che offre una soluzione conveniente e scalabile per la produzione di terapie avanzate nel punto di cura. Le partnership dell'azienda con ospedali e istituti di ricerca in tutto il mondo sostengono la sua missione di rendere le terapie cellulari e geniche più accessibili e alla portata di tutti.
Orgenesis Inc. (NASDAQ: ORGS) anunció que sus acciones comunes comenzarán a operar en el mercado OTCQX® Best Market bajo el símbolo ticker "ORGS" tras su exclusión del Nasdaq Stock Market. La exclusión se debió al incumplimiento del umbral requerido de capital de los accionistas. Orgenesis planea volver a solicitar una cotización en Nasdaq tan pronto como sea práctico.
La empresa se compromete a mantener altos niveles de gobernanza corporativa y transparencia mientras aborda la falta de capital. Orgenesis sigue enfocándose en avanzar su plataforma de Procesamiento Celular Descentralizado (DCP), que ofrece una solución rentable y escalable para la producción de terapias avanzadas en o cerca del punto de atención. Las asociaciones de la empresa con hospitales e instituciones de investigación en todo el mundo apoyan su misión de hacer que las terapias celulares y genéticas sean más asequibles y accesibles.
Orgenesis Inc. (NASDAQ: ORGS)는 자사의 보통주가 Nasdaq 증권 거래소에서 상장 폐지된 후 "ORGS"라는 종목 기호로 OTCQX® Best Market에서 거래를 시작한다고 발표했습니다. 상장 폐지는 회사가 요구되는 주주 자본 기준을 충족하지 못한 결과입니다. Orgenesis는 가능한 한 빨리 Nasdaq 상장을 다시 신청할 계획입니다.
회사는 자본 부족 문제를 해결하면서 높은 수준의 기업 거버넌스와 투명성을 유지하기 위해 최선을 다하고 있습니다. Orgenesis는 분산형 세포 가공(DCP) 플랫폼의 발전에 계속 집중하고 있으며, 이는 치료 지점에서 가까운 곳에서 진보된 치료제를 생산하기 위한 비용 효율적이고 확장 가능한 솔루션을 제공합니다. 전 세계 병원 및 연구 기관과의 파트너십은 세포 및 유전자 치료제를 보다 저렴하고 접근 가능하게 만들기 위한 회사의 사명을 지원하고 있습니다.
Orgenesis Inc. (NASDAQ: ORGS) a annoncé que ses actions ordinaires commenceront à être négociées sur le marché OTCQX® Best Market sous le symbole ticker "ORGS" à la suite de son retrait du Nasdaq. Le retrait est dû à la non-conformité de l'entreprise avec le seuil de capitaux propres requis. Orgenesis prévoit de redevenir cotée sur le Nasdaq dès que possible.
L'entreprise reste engagée à maintenir des normes élevées de gouvernance d'entreprise et de transparence tout en s'attaquant à la déficience en capital. Orgenesis continue de se concentrer sur l'avancement de sa plateforme de Traitement Cellulaire Décentralisé (DCP), qui propose une solution économique et évolutive pour la production de thérapies avancées près du lieu de soins. Les partenariats de l'entreprise avec des hôpitaux et des institutions de recherche à travers le monde soutiennent sa mission de rendre les thérapies cellulaires et géniques plus abordables et accessibles.
Orgenesis Inc. (NASDAQ: ORGS) gab bekannt, dass ihre Stammaktien nach der Delistung vom Nasdaq Aktienmarkt unter dem Tickersymbol "ORGS" im OTCQX® Best Market gehandelt werden. Die Delistung erfolgte aufgrund der Nichterfüllung der erforderlichen Eigenkapitalgrenze. Orgenesis plant, sich so bald wie möglich erneut für ein Nasdaq-Listing zu bewerben.
Das Unternehmen bleibt dem Ziel verpflichtet, hohe Standards in der Unternehmensführung und Transparenz aufrechtzuerhalten, während es den Eigenkapitalmangel angeht. Orgenesis konzentriert sich weiterhin auf die Weiterentwicklung seiner dezentralen Zellverarbeitung (DCP) Plattform, die eine kostengünstige und skalierbare Lösung für die Herstellung fortschrittlicher Therapien am oder in der Nähe des Behandlungsortes bietet. Die Partnerschaften des Unternehmens mit Krankenhäusern und Forschungseinrichtungen weltweit unterstützen seine Mission, Zell- und Gentherapien erschwinglicher und zugänglicher zu machen.
- Orgenesis will trade on the OTCQX® Best Market, the highest tier of OTC Markets
- The company plans to reapply for Nasdaq listing after addressing the equity shortfall
- Continued progress in advancing the Decentralized Cell Processing (DCP) platform
- Growing network of partnerships with hospitals and research institutions worldwide
- Delisting from Nasdaq Stock Market due to failure to meet stockholders' equity threshold
- Potential decrease in investor visibility and liquidity due to moving to OTC markets
Insights
The delisting from Nasdaq and move to OTCQX is a significant setback for Orgenesis, reflecting financial challenges in meeting the required stockholders' equity threshold. Trading on OTCQX, while the highest tier of OTC markets, typically implies reduced liquidity and potentially less institutional investor interest compared to Nasdaq.
However, the company's commitment to reapplying for Nasdaq listing and focus on its Decentralized Cell Processing (DCP) platform present potential opportunities. The DCP platform's cost-effective, scalable approach to producing advanced therapies near the point of care could be a differentiator in the competitive cell and gene therapy market.
Investors should closely monitor Orgenesis' efforts to address the equity shortfall and its progress in expanding partnerships and advancing therapies. The company's ability to execute its business strategy while resolving financial issues will be important for its future prospects and potential return to Nasdaq.
Orgenesis' Decentralized Cell Processing (DCP) platform represents an innovative approach in the cell and gene therapy (CGT) sector. By enabling production near the point of care, it addresses critical challenges in the industry such as high costs, scalability and accessibility.
The company's growing network of partnerships with hospitals and research institutions is a strategic move that could accelerate the adoption of its platform. This decentralized model has the potential to disrupt the traditional centralized processing paradigm, potentially leading to more affordable and accessible CGT treatments.
However, the financial challenges leading to the Nasdaq delisting raise concerns about the company's ability to fund ongoing research and development. The CGT field is capital-intensive and access to funding is crucial. Orgenesis will need to demonstrate strong execution and progress in its partnerships to attract investors and secure the necessary capital to advance its platform and therapies.
Reports Plans to Reapply for Nasdaq Listing
Announces Progress Advancing Decentralized Cell Processing Platform
GERMANTOWN, Md., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Orgenesis Inc. (NASDAQ: ORGS) (“Orgenesis” or the “Company”), a global biotech company working to unlock the full potential of cell and gene therapies (CGT) in order to improve access and outcomes in healthcare, today announced that its common stock will begin trading on the OTCQX® Best Market under the ticker symbol "ORGS" following its delisting from the Nasdaq Stock Market. The delisting resulted from the Company's failure to meet the required stockholders’ equity threshold. Orgenesis plans to attempt to resolve the deficiency and reapply for a Nasdaq listing as soon as practical.
The OTCQX® Best Market is the highest tier of the OTC Markets and reflects Orgenesis’ commitment to maintaining the highest levels of corporate governance and transparency while addressing the equity shortfall. The Company’s shares will continue to trade under the symbol "ORGS," providing shareholders with liquidity and ongoing access to their investments.
Vered Caplan, CEO of Orgenesis, commented, “While we are disappointed by the delisting, our focus remains firmly on driving the business forward. Our growing network of partnerships with hospitals and research institutions worldwide supports our mission of making cell and gene therapies more affordable and accessible. We are also excited about our continued progress in advancing the development of cutting-edge therapies through our decentralized platform. We are working diligently to address the stockholders’ equity deficiency and all other requirements to comply with the listing criteria and reapply to Nasdaq.”
Orgenesis believes that its innovative Decentralized Cell Processing (DCP) platform can drive change in the industry. The platform offers a cost-effective, scalable solution for producing advanced therapies at or near the point of care, addressing the limitations of traditional centralized processing. The Company’s partnerships with leading hospitals and research institutions globally position Orgenesis to make significant strides in expanding patient access to affordable and life-saving therapies. We believe that the growing demand for cell and gene therapies, combined with Orgenesis' unique model, sets the stage for potential growth and value creation.
About Orgenesis
Orgenesis is a global biotech company that has been committed to unlocking the potential of cell and gene therapies (CGTs) since 2012 as well as a paradigm-shifting decentralized approach to processing since 2020. This new model allows Orgenesis to bring academia, hospitals, and industry together to make these essential therapies a reality sooner rather than later. Orgenesis is focusing on advancing its CGTs toward eventual commercialization, while partnering with key industry stakeholders to provide a rapid, globally harmonized pathway for these therapies to reach and treat a larger numbers of patients more cost effectively and with better outcomes through great science and decentralized production. Additional information about the Company is available at: www.orgenesis.com.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts or statements that relate to present facts or current conditions, including but not limited to, statements regarding the expected trading of our common stock on the OTCQX, our plan to meet the Nasdaq listing requirements and reapply for listing, and our anticipated growth and value creation are forward-looking statements. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, our ability to meet the Nasdaq listing requirements, our reliance on, and our ability to grow, our point-of-care cell therapy platform, uncertainties inherent in the results of preliminary data, pre-clinical studies and earlier-stage clinical trials, which may not be predictive of final results or the results of later-stage clinical trials, the timing of and our ability to initiate and successfully enroll future trials; our ability to obtain FDA clearance of our future IND submissions and commence and complete clinical trials on expected timelines, or at all, our ability to achieve and maintain overall profitability, our ability to manage our research and development programs that are based on novel technologies, our ability to control key elements relating to the development and commercialization of therapeutic product candidates with third parties, the timing of completion of clinical trials and studies, the availability of additional data, outcomes of clinical trials of our product candidates, the potential uses and benefits of our product candidates, the sufficiency of working capital to realize our business plans and our ability to raise additional capital, the development of our POCare strategy, our trans differentiation technology as therapeutic treatment for diabetes, the technology behind our in-licensed ATMPs not functioning as expected, our ability to further our CGT development projects, either directly or through our JV partner agreements, and to fulfill our obligations under such agreements, our license agreements with other institutions, our ability to retain key employees, our competitors developing better or cheaper alternatives to our products, risks relating to legal proceedings against us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
IR contact for Orgenesis:
Crescendo Communications, LLC
Tel: 212-671-1021
Orgs@crescendo-ir.com
FAQ
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