PHOENIX, June 28, 2023 /PRNewswire/ -- Creative Medical
Technology Holdings, Inc. ("Creative Medical Technology" or the
"Company") (NASDAQ: CELZ), a biotechnology company focused on a
regenerative approach to immunotherapy, endocrinology, urology,
gynecology, and orthopedics, today announced that on June 27, 2023 it received written notice from The
Nasdaq Stock Market LLC informing the Company that it has regained
compliance with the minimum bid price requirement under Nasdaq
Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital
Market. Consequently, the Company is now in compliance with all
applicable Nasdaq listing standards.
Previously, on July 8, 2022,
Creative Medical Technology had been notified by Nasdaq that the
Company 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. In order to regain Nasdaq compliance, the Company
was required to maintain a minimum closing bid price of
$1.00 or more for at least 10
consecutive trading days. This requirement was met on June 26, 2023, the tenth consecutive trading day
when the closing bid price of the Company's common stock was over
$1.00.
"We are pleased to have regained compliance with Nasdaq's
Listing Rules, and look forward to our future with optimism," said
Timothy Warbington, President, and
CEO of the Company. "We continue to make progress in developing
best-in-class regenerative therapeutics that address multiple
indications and end markets, and are supported in our efforts by a
talented and dedicated team of professionals, an extensive IP
portfolio with significant potential commercial applications, and a
strong financial position. We continue to believe that we have
sufficient funds to meet our anticipated operating costs and
capital expenditure requirements through 2024."
About Creative Medical Technology Holdings
Creative
Medical Technology Holdings, Inc. is a biotechnology company
dedicated to the advancement of identifying and translating novel
biological therapeutics in the fields of immunotherapy,
endocrinology, urology, gynecology, and orthopedics and is traded
on NASDAQ under the ticker symbol CELZ. For further information
about the Company, please
visit www.creativemedicaltechnology.com.
Forward Looking Statements
This news release may
contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming clinical
trials and laboratory results, marketing efforts, funding, etc.
Forward-looking statements address future events and conditions
and, therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in
such statements. See the periodic and other reports filed by
Creative Medical Technology Holdings, Inc. with the Securities and
Exchange Commission and available on the Commission's website at
www.sec.gov.
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SOURCE Creative Medical Technology Holdings, Inc.