Tiziana Life Sciences Regains Compliance with Nasdaq Listing Minimum Bid Price Rule
Tiziana Life Sciences (TLSA) has regained compliance with Nasdaq's minimum bid price rule, ensuring its continued listing on the Nasdaq Capital Market. The company, which develops immunomodulation therapies, had been notified of non-compliance on July 19, 2023, when its stock failed to maintain a closing bid price of $1.00 or more for 30 consecutive business days. Tiziana successfully met the requirement by maintaining a minimum closing bid price of $1.00 or more for at least ten consecutive trading days, achieving this on August 9, 2024. As a result, the previously scheduled hearing before the Hearings Panel has been cancelled, and Tiziana's securities will continue to be listed and traded on Nasdaq.
Tiziana Life Sciences (TLSA) ha ripristinato la conformità con la regola del prezzo minimo di offerta di Nasdaq, assicurando la sua continua quotazione sul Nasdaq Capital Market. La società, che sviluppa terapie di immunomodulazione, era stata informata della non conformità il 19 luglio 2023, quando le sue azioni non sono riuscite a mantenere un prezzo di chiusura di $1,00 o più per 30 giorni lavorativi consecutivi. Tiziana ha soddisfatto con successo il requisito mantenendo un prezzo di offerta di chiusura minimo di $1,00 o più per almeno dieci giorni di contrattazione consecutivi, raggiungendo questo obiettivo il 9 agosto 2024. Di conseguenza, l'udienza precedentemente programmata davanti al Comitato delle Audizioni è stata annullata, e i titoli di Tiziana continueranno a essere quotati e scambiati su Nasdaq.
Tiziana Life Sciences (TLSA) ha recuperado el cumplimiento de la regla del precio mínimo de oferta de Nasdaq, asegurando su continuación en el Nasdaq Capital Market. La empresa, que desarrolla terapias de inmunomodulación, fue notificada de incumplimiento el 19 de julio de 2023, cuando sus acciones no lograron mantener un precio de cierre de $1.00 o más durante 30 días hábiles consecutivos. Tiziana cumplió exitosamente con el requisito al mantener un precio de cierre de oferta mínimo de $1.00 o más durante al menos diez días de negociación consecutivos, logrando esto el 9 de agosto de 2024. Como resultado, se ha cancelado la audiencia programada anteriormente ante el Panel de Audiencias, y los valores de Tiziana seguirán cotizándose y transaccionándose en Nasdaq.
Tiziana Life Sciences (TLSA)는 Nasdaq의 최소 입찰 가격 규정을 준수하여 Nasdaq 주식 시장에서의 계속된 상장을 보장받았습니다. 면역 조절 치료제를 개발하는 이 회사는 2023년 7월 19일 주가가 30거래일 연속으로 $1.00 이상을 유지하지 못하여 비준수 통지를 받았습니다. Tiziana는 요구 사항을 성공적으로 충족하여 최소 10거래일 연속으로 $1.00 이상의 종가를 유지하며, 2024년 8월 9일 이를 달성하였습니다. 결과적으로, 이전에 예정된 청문회는 취소되었으며, Tiziana의 증권은 Nasdaq에 계속해서 상장되고 거래될 것입니다.
Tiziana Life Sciences (TLSA) a rétabli sa conformité avec la règle du prix d'offre minimum du Nasdaq, garantissant sa cotation continue sur le Nasdaq Capital Market. L'entreprise, qui développe des thérapies d'immunomodulation, a été informée de son non-respect le 19 juillet 2023, lorsque son action n'a pas réussi à maintenir un prix d'offre de clôture de 1,00 $ ou plus pendant 30 jours ouvrables consécutifs. Tiziana a satisfait avec succès à l'exigence en maintenant un prix d'offre de clôture minimum de 1,00 $ ou plus pendant au moins dix jours de négociation consécutifs, atteignant cela le 9 août 2024. En conséquence, l'audience précédemment prévue devant le panel des audiences a été annulée, et les titres de Tiziana continueront d’être cotés et échangés sur le Nasdaq.
Tiziana Life Sciences (TLSA) hat die Einhaltung der Mindestangebotspreisregel von Nasdaq wiederhergestellt, was die fortlaufende Notierung am Nasdaq Capital Market sichert. Das Unternehmen, das Immunmodulationstherapien entwickelt, wurde am 19. Juli 2023 über die Nichteinhaltung informiert, als der Aktienkurs 30 aufeinanderfolgende Handelstage lang keinen Schlusskurs von $1,00 oder mehr aufrechterhalten konnte. Tiziana hat die Anforderung erfolgreich erfüllt, indem es mindestens zehn aufeinanderfolgende Handelstage einen Schlusskurs von $1,00 oder mehr beibehielt, was am 9. August 2024 erreicht wurde. Infolgedessen wurde die zuvor geplante Anhörung vor dem Anhörungsausschuss abgesagt, und die Wertpapiere von Tiziana werden weiterhin an der Nasdaq notiert und gehandelt.
- Regained compliance with Nasdaq's minimum bid price rule
- Continued listing on Nasdaq Capital Market secured
- Avoided potential delisting risk
- None.
Insights
Tiziana Life Sciences' compliance with Nasdaq's listing requirements is a positive development for the company. Maintaining a Nasdaq listing provides several benefits:
- Enhanced visibility and credibility among investors
- Improved access to capital markets
- Increased liquidity for shareholders
However, it's important to note that while this news addresses a short-term concern, it doesn't directly impact the company's fundamental operations or pipeline progress. Investors should focus on Tiziana's lead candidate, intranasal foralumab and its potential in the immunomodulation therapy market. The company's ability to maintain compliance suggests improved market perception, but long-term value will depend on clinical and regulatory milestones.
Tiziana's regained compliance is a relief for investors, but it's essential to look beyond this regulatory hurdle. The company's focus on intranasal foralumab, a fully human anti-CD3 monoclonal antibody, is intriguing. This novel delivery method could potentially offer advantages over traditional antibody therapies, such as improved CNS penetration and reduced side effects. However, investors should remain cautious and monitor upcoming clinical trial results, as the biotech sector is highly volatile and success rates for novel therapies are generally low. The company's ability to execute its clinical program and maintain financial stability will be critical factors moving forward.
NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Tiziana Life Sciences, Ltd. (Nasdaq: TLSA) (“Tiziana” or the “Company”), a biotechnology company developing breakthrough immunomodulation therapies with its lead development candidate, intranasal foralumab, a fully human, anti-CD3 monoclonal antibody, today announced that it has received a notification from the Nasdaq Stock Market LLC (“Nasdaq”) Listing Qualifications Department informing the Company that it has regained compliance with the Nasdaq listing minimum bid price requirement for continued listing on the Nasdaq Capital Market exchange.
Tiziana was previously notified by Nasdaq on July 19, 2023 that it was not in compliance with the minimum bid-price listing rule (under Rule 5550(a)(2)) because its common stock failed to meet the closing bid price of
About Foralumab
Foralumab, a fully human anti-CD3 monoclonal antibody, is a biological drug candidate that has been shown to stimulate T regulatory cells when dosed intranasally. At present, 10 patients with Non-Active Secondary Progressive Multiple Sclerosis (na-SPMS) have been dosed in an open-label intermediate sized Expanded Access (EA) Program with either an improvement or stability of disease seen within 6 months in all patients. The FDA has recently allowed an additional 20 patients to be enrolled in this EA program. In addition, intranasal foralumab is currently being studied in a Phase 2a, randomized, double-blind, placebo-controlled, multicenter, dose-ranging trial in patients with non-active secondary progressive multiple sclerosis (NCT06292923).
Activated T cells play an important role in the inflammatory process. Foralumab, the only fully human anti-CD3 monoclonal antibody (mAb), binds to the T cell receptor and dampens inflammation by modulating T cell function, thereby suppressing effector features in multiple immune cell subsets. This effect has been demonstrated in patients with COVID and with multiple sclerosis, as well as in healthy normal subjects. The non-active SPMS intranasal foralumab Phase 2 trial (NCT06292923) began screening patients in November of 2023. Immunomodulation by nasal anti-CD3 mAb represents a novel avenue for treatment of neuroinflammatory and neurodegenerative human diseases.[1],[2]
About Tiziana Life Sciences
Tiziana Life Sciences is a clinical-stage biopharmaceutical company developing breakthrough therapies using transformational drug delivery technologies to enable alternative routes of immunotherapy. Tiziana’s innovative nasal approach has the potential to provide an improvement in efficacy as well as safety and tolerability compared to intravenous (IV) delivery. Tiziana’s lead candidate, intranasal foralumab, which is the only fully human anti-CD3 mAb, has demonstrated a favorable safety profile and clinical response in patients in studies to date. Tiziana’s technology for alternative routes of immunotherapy has been patented with several applications pending and is expected to allow for broad pipeline applications.
For more information about Tiziana Life Sciences and its innovative pipeline of therapies, please visit www.tizianalifesciences.com
For further inquiries:
Tiziana Life Sciences Ltd
Paul Spencer, Business Development and Investor Relations
+44 (0) 207 495 2379
email: info@tizianalifesciences.com
Investors:
Irina Koffler
LifeSci Advisors, LLC
646.970.4681
email: ikoffler@lifesciadvisors.com
[1] https://www.pnas.org/doi/10.1073/pnas.2220272120
[2] https://www.pnas.org/doi/10.1073/pnas.2309221120
FAQ
What was the minimum bid price requirement Tiziana Life Sciences (TLSA) had to meet for Nasdaq compliance?
When did Tiziana Life Sciences (TLSA) regain compliance with Nasdaq's minimum bid price rule?
What was the initial date Tiziana Life Sciences (TLSA) was notified of non-compliance with Nasdaq's listing rule?
What is the main product being developed by Tiziana Life Sciences (TLSA)?
