LOS ANGELES, Sept. 13, 2017 /PRNewswire/
-- ImmunoCellular Therapeutics, Ltd. ("ImmunoCellular" or
the "Company") (NYSE MKT: IMUC) today announced that the NYSE MKT
LLC (the "NYSE MKT") has accepted the Company's plan to regain
compliance with the exchange's continued listing standards set
forth in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the
NYSE MKT Company Guide (the "Company Guide").
As previously reported by the Company in a Form 8-K filed on
June 29, 2017, the Company was
previously notified by NYSE MKT that it was not in compliance with
the stockholders' equity continued listing standard as set forth in
Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the
Company Guide, which require stockholders' equity of $6.0 million or more if the Company has reported
losses from continuing operations and/or net losses in its five
most recent fiscal years. In order to maintain its listing, the
Company submitted a plan of compliance addressing how it intends to
regain compliance and the plan has been accepted by the NYSE MKT.
The Company has been granted until December
23, 2018, subject to periodic review by the NYSE MKT for
compliance with the initiatives set forth in the plan, to regain
compliance. If the Company is not in compliance with the continued
listing standards by December 23,
2018, or if it does not make progress consistent with the
plan during the plan period, the NYSE MKT staff may initiate
delisting proceedings as appropriate.
The NYSE MKT notice has no immediate impact on the listing of
the Company's common stock, which will continue to trade on the
NYSE MKT exchange under the symbol "IMUC," with the added
designation of ".BC" to indicate that the Company is not in
compliance with the NYSE MKT's listing standards, subject to
periodic review by the NYSE MKT.
About ImmunoCellular Therapeutics, Ltd.
ImmunoCellular Therapeutics, Ltd. is a Los Angeles-based
clinical-stage company that is developing immune-based therapies
for the treatment of brain and other cancers. ImmunoCellular's
pipeline includes: a Stem-to-T-Cell research program, which
engineers hematopoietic stem cells to generate cytotoxic T cells;
ICT-121, a patient-specific, dendritic cell-based immunotherapy
targeting CD133 found in recurrent glioblastoma; and ICT-140, a
patient-specific, dendritic cell-based immunotherapy targeting
ovarian cancer. ImmunoCellular recently announced the
wind-down of its phase 3 trial of ICT-107 in HLA-A2 patients while
it pursues a collaborative arrangement or sale of its ICT-107
program. To learn more about ImmunoCellular, please visit
www.imuc.com.
Forward-Looking Statements
This press release contains certain forward-looking statements,
including statements regarding ImmunoCellular's intentions and
current expectations concerning, among other things, whether
ImmunoCellular's ability to timely submit a plan of compliance;
ImmunoCellular's ability to regain compliance with the NYSE MKT
LLC's listing standards; and ImmunoCellular's ability to achieve
its other clinical, operational, strategic and financial goals.
Forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially and reported
results should not be considered as an indication of future
performance. These risks and uncertainties include the risk that
the Company will not be able to timely regain compliance with the
NYSE MKT LLC's listing standards. Additional risks and
uncertainties are described under the heading "Risk Factors" in
ImmunoCellular's most recently filed quarterly report on Form 10-Q
for the period ended June 30, 2017.
These forward-looking statements speak only as of the date
hereof. ImmunoCellular undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact:
ImmunoCellular Therapeutics, Ltd.
Investor Relations
Jane Green
415.652.4819
jane@jmgcomm.com
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SOURCE ImmunoCellular Therapeutics, Ltd.