TEL AVIV, Israel, Feb. 6, 2020 /PRNewswire/ -- Therapix Biosciences
Ltd. (Nasdaq: TRPX), a specialty, clinical-stage pharmaceutical
company focusing on the development of cannabinoid-based treatments
announced today that on February 5, 2020, it received
notice that the Nasdaq Hearings Panel (the "Panel") granted the
Company an extension until April 1,
2020, to regain compliance with the minimum $2,500,000 stockholders' equity requirement for
continued listing on Nasdaq, as set forth in Nasdaq Listing Rule
5550(b)(1) (the "Stockholders' Equity Requirement"). The Panel's
decision follows the hearing that took place on January 16,
2020, at which time Therapix's management presented the Panel with
a plan for regaining and sustaining compliance with the
Stockholders' Equity Requirement.
About Therapix Biosciences (Nasdaq: TRPX):
Therapix Biosciences Ltd. is a specialty clinical-stage
pharmaceutical company led by an experienced team of senior
executives and scientists. Our focus is creating and enhancing a
portfolio of technologies and assets based on cannabinoid
pharmaceuticals. With this focus, the company is currently engaged
in the following drug development programs based on
tetrahydrocannabinol (THC) and/or non-psychoactive cannabidiol
(CBD): THX-110 for the treatment of Tourette syndrome and for the
treatment of obstructive sleep apnea; THX-160 for the treatment of
pain; and THX-210 for the treatment of autism spectrum
disorder and epilepsy. Please visit our website for more
information at www.therapixbio.com, the content of which is
not a part of this press release.
Forward Looking Statements:
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. For example, the Company is using forward-looking
statements when it discusses plans to regain compliance with
Nasdaq's Stockholders' Equity Requirement. In addition, historic
results of scientific research do not guarantee that the
conclusions of future research would not suggest different
conclusions or that historic results referred to in this press
release would not be interpreted differently in light of additional
research or otherwise. Because such statements deal with
future events and are based on the Company's current expectations,
they are subject to various risks and uncertainties and actual
results, performance or achievements of the Company could differ
materially from those described in or implied by the statements in
this press release. The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed under the heading "Risk
Factors" the Company's Annual Report on Form 20-F filed with the
SEC on May 15, 2019, and in
subsequent filings with the SEC. Except as otherwise required by
law, the Company disclaims any intention or obligation to update or
revise any forward-looking statements, which speak only as of the
date they were made, whether as a result of new information, future
events or circumstances or otherwise.
Investor Contact:
IR@therapixbio.com
Tel: +972-3-6167055
info@therapixbio.com
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SOURCE Therapix Biosciences Ltd.