Cyclacel Regains Compliance With Nasdaq Continued Listing Requirements
June 16 2016 - 7:00AM
Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) (NASDAQ:CYCCP)
(Cyclacel or the Company), a biopharmaceutical company developing
oral therapies that target the various phases of cell cycle control
for the treatment of cancer and other serious disorders, announced
today that it received notification from the Listing Qualifications
Staff of NASDAQ that it has regained compliance with the minimum
bid price rule for continued listing on The NASDAQ Capital Market.
The notification stated that as of June 14, 2016, the Company has
evidenced a closing per share bid price of its common stock in
excess of NASDAQ’s $1.00 minimum closing bid price requirement for
at least ten consecutive trading days. Accordingly, the Company has
regained compliance with NASDAQ Listing Rule 5550(a)(2) and will
continue to trade on The NASDAQ Capital Market.
About Cyclacel Pharmaceuticals,
Inc.
Cyclacel Pharmaceuticals is a clinical-stage
biopharmaceutical company using cell cycle control and DNA damage
response biology to develop innovative, targeted medicines for
cancer and other proliferative diseases. The SEAMLESS randomized
Phase 3 trial of sapacitabine as front-line treatment for AML in
the elderly under an SPA with FDA has completed enrollment.
Cyclacel's pipeline includes an oral combination of seliciclib
(CDK2/9 inhibitor) and sapacitabine in Phase 1 in advanced solid
tumors including patients with BRCA mutations; sapacitabine in
Phase 2 in MDS; and CYC065 (CDK2/9 inhibitor) in Phase 1 in solid
tumors and lymphomas with potential utility based on preclinical
data in other hematological malignancies. Cyclacel's strategy is to
build a diversified biopharmaceutical business focused in
hematology and oncology based on a pipeline of novel drug
candidates. Please visit www.cyclacel.com for more information.
Forward-looking Statements
This news release contains certain
forward-looking statements that involve risks and uncertainties
that could cause actual results to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. Such forward-looking statements
include statements regarding, among other things, the efficacy,
safety and intended utilization of Cyclacel's product candidates,
the conduct and results of future clinical trials, plans regarding
regulatory filings, future research and clinical trials and plans
regarding partnering activities. Factors that may cause actual
results to differ materially include the risk that product
candidates that appeared promising in early research and clinical
trials do not demonstrate safety and/or efficacy in larger-scale or
later clinical trials, trials may have difficulty enrolling,
Cyclacel may not obtain approval to market its product candidates,
the risks associated with reliance on outside financing to meet
capital requirements, and the risks associated with reliance on
collaborative partners for further clinical trials, development and
commercialization of product candidates. You are urged to consider
statements that include the words "may," "will," "would," "could,"
"should," "believes," "estimates," "projects," "potential,"
"expects," "plans," "anticipates," "intends," "continues,"
"forecast," "designed," "goal," or the negative of those words or
other comparable words to be uncertain and forward-looking. For a
further list and description of the risks and uncertainties the
Company faces, please refer to our most recent Annual Report on
Form 10-K and other periodic and other filings we file with the
Securities and Exchange Commission and are available at
www.sec.gov. Such forward-looking statements are current only as of
the date they are made, and we assume no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contacts for Cyclacel Pharmaceuticals,
Inc.
Company: Paul McBarron, (908) 517-7330,
pmcbarron@cyclacel.comInvestor Relations: Russo Partners LLC,
Robert Flamm, (212) 845-4226, robert.flamm@russopartnersllc.com
© Copyright 2016 Cyclacel Pharmaceuticals, Inc.
All Rights Reserved. The Cyclacel logo and Cyclacel® are trademarks
of Cyclacel Pharmaceuticals, Inc.
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