TC BioPharm Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

TC BioPharm (Holdings) PLC (NASDAQ: TCBP) regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market after its common shares maintained a minimum closing bid price of $1.00 or more for at least 10 consecutive business days.

Insights

Financial Analyst

TC BioPharm's recent compliance with NASDAQ's minimum bid price requirement is a positive signal for investors and shareholders. This compliance lifts the immediate threat of delisting, which can severely impact a company's stock liquidity and attractiveness to institutional investors. A stock price consistently above $1 suggests a restored investor confidence, which may be attributed to the company's strategic initiatives or positive developments within its clinical programs. However, investors should monitor the stock's performance to ensure it maintains the necessary bid price and assess the company's fundamentals to ensure long-term viability.

Market Research Analyst

The biotechnology sector is known for its high volatility, especially for companies in the clinical stage like TC BioPharm. Regaining compliance with NASDAQ's listing requirements could potentially increase the company's visibility among investors and analysts, which is crucial for raising capital and funding ongoing research. It is important to evaluate the broader industry trends, such as investment flows into biotech and the performance of peer companies, to understand the potential market trajectory of TC BioPharm. Additionally, the company's technology platform's uniqueness and its competitive position within the oncology segment should be considered when forecasting future performance.

Biotech Industry Analyst

Gamma-delta T cell therapies represent a novel approach in oncology, with the potential to address unmet medical needs in cancer treatment. TC BioPharm's advancement in this area could have significant implications for the future of cancer therapy. The company's ability to regain NASDAQ compliance may reflect progress in their clinical trials or operational efficiencies. Stakeholders should evaluate the scientific data and trial results when they become available, as these will be pivotal in determining the company's future prospects. The long-term impact on the business hinges on the clinical success of their therapies, regulatory approvals and the ability to commercialize their products effectively.

EDINBURGH, Scotland, Jan. 4, 2024 /PRNewswire/ -- TC BioPharm (Holdings) PLC ("TC BioPharm" or the "Company") (NASDAQ: TCBP) a clinical stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer, today announced that on January 2, 2024, the Company received a written notice from The Nasdaq Stock Market ("Nasdaq"). The notice informed TC BioPharm that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) (the "Rule") for continued listing on the Nasdaq Capital Market.

On June 22, 2023, TC BioPharm was notified by Nasdaq that it was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. To regain compliance with the Rule, the Company's common shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days. This requirement was met on December 29, 2023.

About TC BioPharm (Holdings) PLC

TC BioPharm is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of gamma-delta T cell therapies for the treatment of cancer with human efficacy data in acute myeloid leukemia. Gamma-delta T cells are naturally occurring immune cells that embody properties of both the innate and adaptive immune systems and can intrinsically differentiate between healthy and diseased tissue. TC BioPharm uses an allogeneic approach in both unmodified and CAR modified gamma-delta T cells to effectively identify, target and eradicate both liquid and solid tumors in cancer.

TC BioPharm is the leader in developing gamma-delta T cell therapies, and the first company to conduct phase II/pivotal clinical studies in oncology. The Company is conducting two investigator-initiated clinical trials for its unmodified gamma-delta T cell product line - Phase 2b/3 pivotal trial for OmnImmune^® in treatment of acute myeloid leukemia using the Company's proprietary allogeneic CryoTC technology to provide frozen product to clinics worldwide. TC BioPharm also maintains a robust pipeline for future indications in solid tumors as well as a significant IP/patent portfolio in the use of CARs with gamma-delta T cells and owns our manufacturing facility to maintain cost and product quality controls.

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SOURCE TC BioPharm

FAQ

What is the recent announcement from TC BioPharm (Holdings) PLC (NASDAQ: TCBP)?

TC BioPharm regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market after its common shares maintained a minimum closing bid price of $1.00 or more for at least 10 consecutive business days.

Why was TC BioPharm (Holdings) PLC (NASDAQ: TCBP) not in compliance with the minimum bid price rule previously?

TC BioPharm was not in compliance with the minimum bid price rule because its common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days, as notified by Nasdaq on June 22, 2023.

When did TC BioPharm (Holdings) PLC (NASDAQ: TCBP) regain compliance with the minimum bid price requirement?

The requirement was met on December 29, 2023, as announced by TC BioPharm.