Scorpius Holdings Announces Removal of NYSE American Trading Suspension; Expected to Resume Normal Trading on August 2, 2024

Rhea-AI Summary

Scorpius Holdings (NYSE American: SCPX), a contract development and manufacturing organization (CDMO), has announced the removal of its NYSE American trading suspension. The company's common stock is expected to resume normal trading on August 2, 2024, under the symbol 'SCPX'.

The NYSE Regulation staff has withdrawn its delisting determination after confirming that Scorpius' stock is now trading above the low selling price threshold defined in Section 1003(f)(v) of the NYSE American Company Guide. This development allows Scorpius to maintain its listing on the NYSE American exchange.

Scorpius Holdings specializes in rapidly advancing biologic and cell therapy programs, offering analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its facilities in San Antonio, Texas.

Positive

• Removal of NYSE American trading suspension
• Expected resumption of normal trading on August 2, 2024
• Withdrawal of delisting determination by NYSE Regulation staff
• Stock price recovery above the low selling price threshold

Negative

• None.

News Market Reaction

%

1 alert

% News Effect

On the day this news was published, SCPX declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

DURHAM, N.C., July 30, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc. (NYSE American: SCPX) (“Scorpius” or “the Company”), an integrated contract development and manufacturing organization (“CDMO”), today announced that the staff of NYSE Regulation has withdrawn its delisting determination and will be lifting the trading suspension of the Company's common stock on the NYSE American. The NYSE Regulation staff determined that the Company's common stock was now trading above the threshold of low selling price issues as further defined by Section 1003(f)(v) of the NYSE American Company Guide. Scorpius’ common stock is expected to resume trading on the NYSE American on Friday, August 2, 2024, under the symbol "SCPX" and Cusip “42237K 508.”

Scorpius Holdings, Inc.

Scorpius Holdings, Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, Texas. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit www.scorpiusbiologics.com.

Forward-Looking Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding the Common Stock resuming trading on the NYSE American on Friday, August 2, 2024, under the symbol "SCPX." Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the Company to resume trading on Friday, August 2, 2024 and have its Common Stock remain listed and recommence trading on the NYSE American; the Company’s financing needs; its cash balance being sufficient to sustain operations and its ability to raise capital when needed; the Company’s ability to leverage fixed costs and achieve long-term profitability; the Company’s ability to obtain regulatory approvals or to comply with ongoing regulatory requirements; regulatory limitations relating to the Company’s ability to successfully promote its services and compete as a pure- play CDMO; and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023, subsequent quarterly reports on Form 10-Qs and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.

Media and Investor Relations Contact
David Waldman
+1 919 289 4017
ir@scorpiusbiologics.com

FAQ

When will Scorpius Holdings (SCPX) resume trading on the NYSE American?

Scorpius Holdings (SCPX) is expected to resume trading on the NYSE American on Friday, August 2, 2024.

Why was the trading suspension of Scorpius Holdings (SCPX) lifted?

The trading suspension was lifted because NYSE Regulation staff determined that Scorpius Holdings' common stock was now trading above the threshold of low selling price issues as defined by NYSE American Company Guide.

What is the main business of Scorpius Holdings (SCPX)?

Scorpius Holdings (SCPX) is an integrated contract development and manufacturing organization (CDMO) focused on advancing biologic and cell therapy programs, offering services to pharmaceutical and biotech companies.

Where are Scorpius Holdings' (SCPX) facilities located?

Scorpius Holdings (SCPX) has state-of-the-art facilities located in San Antonio, Texas.