Results of Appeal of Delisting Determination
July 06 2023 - 4:30PM
6 July 2023
Biodexa Pharmaceuticals
PLC(“Biodexa” or the “Company”)
Results of Appeal of Delisting
Determination
Biodexa Pharmaceuticals PLC (Nasdaq: BDRX), a
clinical-stage biopharmaceutical company developing a pipeline of
products aimed at primary and metastatic cancers of the brain,
announced today that, on July 5, 2023, The Nasdaq Stock Market
LLC’s (“Nasdaq”)Hearings Panel notified the Company that, in
connection with its request for a temporary exception to regain
compliance with Nasdaq’s requirement that the closing bid price of
its securities remain at $1.00 or higher as required by Nasdaq
Listing Rule 5810(c)(3)(A) (the “Minimum Bid Price Rule”), and
further to the Company’s recently completed consolidation of its
American depositary receipts, which had the effect of a one-for-80
reverse split, it has been granted an exception until July 18, 2023
to demonstrate compliance with the Minimum Bid Price Rule.
If the Company’s securities fail to regain
compliance with the Minimum Bid Price Rule by that date, Nasdaq
will delist the securities.
Biodexa Pharmaceuticals PLC |
Stephen Stamp, CEO, CFO |
Tel: +44 (0)29 2048 0180 |
www.biodexapharma.com |
|
Edison Group (US Investor Relations) Alyssa Factor
Tel: +1 (860) 573 9637 Email: afactor@edisongroup.com |
|
About Biodexa Pharmaceuticals
PLC
Biodexa Pharmaceuticals PLC (listed on NASDAQ:
BDRX) is a clinical stage biopharmaceutical company developing a
pipeline of products aimed at primary and metastatic cancers of the
brain. The Company’s lead candidate, MTX110, is being studied
in aggressive rare/orphan brain cancer indications including
recurrent glioblastoma and diffuse midline glioma.
MTX110 is a liquid formulation of the histone
deacetylase (HDAC) inhibitor, panobinostat. This proprietary
formulation enables delivery of the product via convection-enhanced
delivery (CED) at potentially chemotherapeutic doses directly to
the site of the tumour, by-passing the blood-brain barrier and
avoiding systemic toxicity.
Biodexa is supported by three proprietary drug
delivery technologies focused on improving the bio-delivery and
bio-distribution of medicines. Biodexa’s headquarters and
R&D facility is in Cardiff, UK. For more information
visit www.biodexapharma.com.
Forward-Looking Statements
Certain statements in this announcement may
constitute “forward-looking statements” within the meaning of
legislation in the United Kingdom and/or United States. Such
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and are based on
management’s belief or interpretation. All statements
contained in this announcement that do not relate to matters of
historical fact should be considered forward-looking
statements.
Reference should be made to those documents that
Biodexa shall file from time to time or announcements that may be
made by Biodexa in accordance with the rules and regulations
promulgated by the SEC, which contain and identify other important
factors that could cause actual results to differ materially from
those contained in any projections or forward-looking
statements. These forward-looking statements speak only as of
the date of this announcement. All subsequent written and
oral forward-looking statements by or concerning Biodexa are
expressly qualified in their entirety by the cautionary statements
above. Except as may be required under relevant laws in the
United States, Biodexa does not undertake any obligation to
publicly update or revise any forward-looking statements because of
new information, future events or events otherwise arising.
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