Paulness
4 hours ago
NEWS -- Scorpius Holdings, Inc. Provides Update on its Previously Announced Public Offering
August 09 2024 - 3:38PM
Scorpius Holdings, Inc. (NYSE American: SCPX), (“Scorpius”, or the “Company”), an integrated contract development and manufacturing organization (CDMO), today announced a delay in its previously announced public offering. The Company has requested, and the NYSE has approved, a financial viability exception to the NYSE American shareholder approval rules that would allow it to proceed with the closing of an underwritten public offering. The Company intends to pursue the sale of 12,500,000 shares of common stock (or pre-funded warrants ("Pre-Funded Warrants") in lieu thereof, exclusive of the over-allotment option) at a price of $1.00 per share (inclusive of the Pre-Funded Warrant exercise price). The underwriting agreement was terminated in connection with the previously announced offering and a new underwriting agreement will be entered into if the offering is consummated. There can be no assurance that the Company will be able to consummate an offering under these terms or otherwise. The Company will adhere to all applicable provisions relating to the exemption, as outlined in Section 710 of the NYSE American Company Guide, and a closing is intended to occur ten days following the mailing of a notification letter to the Company’s shareholders.
The Company intends to use the net proceeds of the offering to fund working capital and for general corporate purposes.
ThinkEquity is acting as sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-280887), as amended, including a preliminary prospectus, relating to the securities being offered was filed with the Securities and Exchange Commission (“SEC”) and became effective on August 6, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Scorpius Holdings, Inc.
Scorpius Holdings Inc. is an integrated large molecule contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit https://www.scorpiusbiologics.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions and include statements regarding the repricing of the offering, the ability to consummate an offering under the specified terms or otherwise the timing and completion of the proposed offering and the intended use of proceeds. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability to complete the proposed offering, and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023, subsequent quarterly report on Form 10-Q and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this press release on account of new information, future events, or otherwise, except as required by law.
For Investor Relations Inquiries:
David Waldman
+1 (919)-289-4017
mailto://investorrelations@nighthawkbio.com
Paulness
2 days ago
NEWS -- Scorpius Holdings, Inc. Announces Pricing of Public Offering
DURHAM, NC / ACCESSWIRE / August 6, 2024 / Scorpius Holdings, Inc. (NYSE American:SCPX), ("Scorpius", or the "Company"), an integrated contract development and manufacturing organization (CDMO), today announced the pricing of an underwritten public offering of 12,500,000 shares of common stock (or pre-funded warrants ("Pre-Funded Warrants") in lieu thereof). Each share of common stock (or Pre-Funded Warrant) is being offered at a public offering price of $1.00 per share (inclusive of the Pre-Funded Warrant exercise price). The gross proceeds to the Company from the offering are expected to be approximately $12,500,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 1,875,000 shares of common stock and/or Pre-Funded Warrants solely to cover over-allotments, if any. The offering is expected to close on August 8, 2024, subject to satisfaction of customary closing conditions.
The Company intends to use the net proceeds of the offering to fund working capital and for general corporate purposes.
ThinkEquity is acting as sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-280887), as amended, including a preliminary prospectus, relating to the securities being offered was filed with the Securities and Exchange Commission ("SEC") and became effective on August 6, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Scorpius Holdings, Inc.
Scorpius Holdings Inc. is an integrated large molecule contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit https://www.scorpiusbiologics.com.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions and include statements regarding the timing and completion of the proposed offering and the intended use of proceeds. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability to complete the proposed offering, and other factors described in the Company's annual report on Form 10-K for the year ended December 31, 2023, subsequent quarterly report on Form 10-Q and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this press release on account of new information, future events, or otherwise, except as required by law.
For Investor Relations Inquiries:
David Waldman
+1 (919)-289-4017
mailto://investorrelations@nighthawkbio.com
SOURCE: Scorpius BioManufacturing
Paulness
3 days ago
NEWS -- Scorpius Holdings Weighted-Average Pipeline Surpasses $100 Million in Business Develop Opportunities Across Both Manufacturing Client and Government Sectors
Anticipates substantial booked business and associated revenues in Q3/Q4
DURHAM, NC / ACCESSWIRE / August 6, 2024 / Scorpius Holdings, Inc (NYSE American:SCPX), ("Scorpius" or the "Company"), an integrated contract development and manufacturing organization (CDMO), today announced that it has surpassed $100 million in weighted average pipeline of its near-term business development opportunities across both government and manufacturing client sectors. The weighted average pipeline is represented by written proposals which are subject to the execution of definitive agreements. The Company expects these opportunities to translate into substantial booked business and associated revenues over the next two quarters; however there can be no assurance of this.
Key opportunities include:
Several new manufacturing customers within the current quarter have significantly progressed within our weighted pipeline
Multiple repeat client booking opportunities that may carry over into 2025, representing an anticipated $15 million in additional bookings
Multiple opportunities for expanded scope of work with existing clients, including
A single project that could consume a majority of Scorpius' microbial production capacity and trigger capacity expansion activities in the Company's 2025 microbial production suites
Anticipated substantial project expansion with one of the nation's leading universitiesGovernment proposals submitted to fund an additional Bio Safety Level 3 capable facility along with several innovative monoclonal antibody development programsJeff Wolf, CEO of Scorpius Holdings, commented, "We are extremely proud of our progress, as evidenced by the breadth and depth of our pipeline representing these business development opportunities. We expect to close on many of these opportunities before the year's end, which we expect will not only generate substantial revenue this year and next, but also contribute significantly to our cash flow. We believe our success is due to the strides we've made in terms of innovation, as well as customer-centric program management across our platform of services. We look forward to building on this momentum in the months ahead."
Scorpius Holdings, Inc.
Scorpius Holdings Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit https://www.scorpiusbiologics.com.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as the weighted average pipeline surpassing $100 million in near-term business development opportunities across both government and manufacturing client sectors, anticipating substantial booked business and associated revenues in Q3/Q4, the opportunities translating into substantial booked business and associated revenues over the next two quarters several new manufacturing customers within the current quarter significantly progressing within the Company's weighted pipeline, the Company having multiple repeat client booking opportunities that may carry over into 2025 representing an anticipated $15 million in additional bookings, the Company having multiple opportunities for expanded scope of work with existing clients, including a single project that could consume a majority of the Company's 2025 microbial production suites and substantial project expansion with one of the nation's leading universities, the government proposal submitted to fund an additional Bio Safety Level 3 capable facility along with several innovative monoclonal antibody (mAb) programs, closing on a many of these opportunities before the year's end, generating substantial revenue this year and next, but also contributing significantly to cash flow, the Company's success being due to the strides made in terms of innovation, as well as customer-centric program management across its platform of services and building on this momentum in the months ahead. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to close on its near-term business development opportunities across both government and manufacturing client sectors; the Company's ability to generate substantial revenue and contribute significantly to cash flow; the Company's financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the Company's ability to leverage fixed costs and achieve long-term profitability; the Company's ability to obtain regulatory approvals or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company's ability to successfully promote its services and compete as a pure-play CDMO, and other factors described in the Company's annual report on Form 10-K for the year ended December 31, 2023, subsequent other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.
Media and Investor Relations Contact
David Waldman
+1 919 289 4017
mailto://ir@scorpiusbiologics.com
SOURCE: Scorpius BioManufacturing
Paulness
1 week ago
NEWS -- Scorpius Holdings Announces Removal of NYSE American Trading Suspension; Expected to Resume Normal Trading on August 2, 2024
DURHAM, N.C., July 30, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc. (NYSE American: SCPX) (“Scorpius” or “the Company”), an integrated contract development and manufacturing organization (“CDMO”), today announced that the staff of NYSE Regulation has withdrawn its delisting determination and will be lifting the trading suspension of the Company's common stock on the NYSE American. The NYSE Regulation staff determined that the Company's common stock was now trading above the threshold of low selling price issues as further defined by Section 1003(f)(v) of the NYSE American Company Guide. Scorpius’ common stock is expected to resume trading on the NYSE American on Friday, August 2, 2024, under the symbol "SCPX" and Cusip “42237K 508.”
Scorpius Holdings, Inc.
Scorpius Holdings, Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, Texas. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit https://www.scorpiusbiologics.com.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding the Common Stock resuming trading on the NYSE American on Friday, August 2, 2024, under the symbol "SCPX." Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the Company to resume trading on Friday, August 2, 2024 and have its Common Stock remain listed and recommence trading on the NYSE American; the Company’s financing needs; its cash balance being sufficient to sustain operations and its ability to raise capital when needed; the Company’s ability to leverage fixed costs and achieve long-term profitability; the Company’s ability to obtain regulatory approvals or to comply with ongoing regulatory requirements; regulatory limitations relating to the Company’s ability to successfully promote its services and compete as a pure- play CDMO; and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023, subsequent quarterly reports on Form 10-Qs and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.
Media and Investor Relations Contact
David Waldman
+1 919 289 4017
mailto://ir@scorpiusbiologics.com
Paulness
2 weeks ago
NEWS -- Scorpius Holdings Set to Launch First Mammalian cGMP Campaign at San Antonio Facility in the 2024 3rd Quarter
DURHAM, N.C., July 24, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc. (NYSE American: SCPX), (“Scorpius” or the “Company”), an integrated contract development and manufacturing organization (CDMO), today announced that the Company expects to launch its first cGMP mammalian manufacturing campaign at its San Antonio manufacturing facility in the 3rd quarter of 2024. This milestone highlights the expansion of the Company’s biomanufacturing capabilities, particularly in the field of mammalian cell culture production for advanced biopharmaceuticals.
Scorpius has previously initiated cGMP activities in its microbial facilities, and the commencement of mammalian cGMP campaigns marks a significant development as it opens additional revenue streams for the Company’s CDMO operations. Scorpius boasts a dedicated mammalian cell culture facility with cGMP-compliant controlled cleanrooms illustrating Scorpius' commitment to providing tailored and adaptable manufacturing solutions.
Jeff Wolf, CEO of Scorpius, remarked, “I am extremely proud of what our team has accomplished in a short period of time. Our manufacturing and quality teams have worked exceptionally hard to get our mammalian facilities operational in less than two years, well ahead of the typical timing for such complex buildouts. Scorpius is now extremely well-positioned to support a wide range of early-stage clinical programs."
“Our focus at Scorpius is providing each client the personalized attention and systematic flexibility they deserve. Our facility's design includes cleanrooms with mobile equipment, allowing for easily customized configurations to meet the specific needs of each project. Our strategy is to expand our scope of services as our clients advance their respective programs through clinical development. Looking ahead, Scorpius has already secured bookings for additional cGMP activities in the mammalian building for 2025, demonstrating the demand and confidence in our expanded capabilities,” concluded Mr. Wolf.
Scorpius Holdings, Inc.
Scorpius Holdings Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit https://www.scorpiusbiologics.com.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as launching Scorpius’ first cGMP mammalian manufacturing campaign at its San Antonio manufacturing facility in the 3rd quarter of 2024, opening additional revenue streams for Scorpius’ operations, being extremely well-positioned to support a wide range of early-stage clinical programs, expanding the scope of services as Scorpius’ clients advance their respective programs through clinical development. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to launch its first cGMP mammalian manufacturing campaign and open additional revenue streams as planned; expand its large molecule biomanufacturing CDMO services and continue to grow revenue; the Company’s financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the Company’s ability to leverage fixed costs and achieve long-term profitability; the Company’s ability to obtain regulatory approvals or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company’s ability to successfully promote its services and compete as a pure- play CDMO, and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023, subsequent other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.
Media and Investor Relations Contact
David Waldman
+1 919 289 4017
mailto://ir@scorpiusbiologics.com
Paulness
3 weeks ago
NEWS -- Scorpius Holdings Successfully Executes First cGMP Microbial Batches at San Antonio Facility
Company poised to execute additional cGMP activities throughout the remainder of the year
DURHAM, N.C., July 18, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX), (“Scorpius” or the “Company”), an integrated contract development and manufacturing organization (CDMO), today announced the successful execution of its first current Good Manufacturing Practice (cGMP) microbial batches at its San Antonio manufacturing facility. This significant milestone marks the beginning of Scorpius’ support for manufacturing programs through clinical manufacturing, with aspirations for future commercial activities.
Scorpius' facilities have already attracted significant interest, resulting in a substantial backlog of client program bookings. This achievement underscores Scorpius' ability to meet the stringent regulatory and client-driven standards essential for the contract manufacturing of microbial biologics. It also highlights the trust and confidence that clients place in its services. Scorpius is poised to execute additional cGMP activities throughout the remainder of the year, reinforcing its commitment to advancing U.S.-based GMP manufacturing capabilities.
Jeff Wolf, CEO of Scorpius Holdings, remarked, "We are thrilled to have successfully completed our first cGMP microbial batches at the San Antonio facility. This milestone is a result of the dedication and collaboration among Scorpius’ manufacturing, process development, quality, and operations teams. The successful execution is a testament to the robust systems we have built and marks another step forward in our commitment to U.S. based cGMP activities for both current and future Scorpius clients."
"The Company remains dedicated to leveraging our advanced capabilities to support our clients' needs and contribute to the advancement of breakthrough therapies. With completion of this milestone, we believe that Scorpius is ready to further solidify its position as a leader in clinical scale microbial manufacturing, offering our clients unparalleled quality and service," concluded Wolf.
Scorpius Holdings, Inc.
Scorpius Holdings Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit https://www.scorpiusbiologics.com.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as Scorpius being poised to execute additional cGMP activities throughout the remainder of the year; aspirations for future commercial activities; Scorpius being ready to further solidify its position as a leader in clinical scale microbial manufacturing, offering its clients unparalleled quality and service Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to continue to validate its microbial facilities; expand its large molecule biomanufacturing CDMO services and continue to grow revenue; the Company’s financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the Company’s ability to leverage fixed costs and achieve long-term profitability; the Company’s ability to obtain regulatory approvals or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company’s ability to successfully promote its services and compete as a pure- play CDMO, and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023, subsequent other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.
Media and Investor Relations Contact
David Waldman
+1 919 289 4017
mailto://ir@scorpiusbiologics.com
Paulness
3 weeks ago
NEWS -- Scorpius Holdings Announces Reverse Stock Split
DURHAM, N.C., July 17, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX) (“Scorpius” or “the Company”), an integrated contract development and manufacturing organization (“CDMO”), today announced that the Company’s Board of Directors approved a 1-for-200 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock (the “Common Stock”), to increase the selling price of the Company’s Common Stock in order to regain compliance with the requirements and policies of the NYSE American. However, there can be no assurance that that the Reverse Stock Split will increase the Company’s stock price sufficiently in order to meet any requirements and policies of the NYSE American.
The Reverse Stock Split will take legal effect at 11:01 P.M. Eastern Time on July 17, 2024, and the Company's Common Stock will open for trading on the OTC Markets on July 18, 2024, on a post-split basis, under the existing ticker symbol "SCPX" but with new CUSIP number 42237K508.
At Scorpius Holdings, Inc’s Annual Meeting of Shareholders (the “Annual Meeting”) held on July 15, 2024, the Company’s stockholders approved a proposal to amend the Company’s certificate of incorporation to effect a reverse stock split of its Common Stock at a ratio of between 1-for-5 to 1-for-200, with the ratio within such range to be determined at the discretion of the Company’s Board. Following the Annual Meeting, the Board approved a final split ratio of 1-for-200. Following the Reverse Stock Split, the ownership percentage of each stockholder will remain unchanged, other than with respect to fractional shares.
Additional details regarding the Company’s Reverse Stock Split can be found in the Current Report on Form 8-K that the Company will file with the SEC.
Scorpius Holdings, Inc.
Scorpius Holdings, Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, Texas. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit https://www.scorpiusbiologics.com.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding regaining compliance with the requirements and policies of the NYSE American. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the Company to successfully appeal the determination to the Exchange’s Listing Qualifications Panel and have its Common Stock remain listed and recommence trading on the NYSE American; the Company’s financing needs; its cash balance being sufficient to sustain operations and its ability to raise capital when needed; the Company’s ability to leverage fixed costs and achieve long-term profitability; the Company’s ability to obtain regulatory approvals or to comply with ongoing regulatory requirements; regulatory limitations relating to the Company’s ability to successfully promote its services and compete as a pure- play CDMO; and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023, subsequent quarterly reports on Form 10-Qs and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.
Media and Investor Relations Contact
David Waldman
+1 919 289 4017
mailto://ir@scorpiusbiologics.com
Paulness
2 months ago
NEWS -- Scorpius Holdings Receives NYSE American Notice of Delisting and Reports Plans to Appeal
DURHAM, N.C., June 17, 2024 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX) (“Scorpius” or “the Company”), an integrated contract development and manufacturing organization (“CDMO”), today reported that it received notice from the NYSE American of its determination to commence delisting proceedings of the Company’s common stock from the exchange pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the low-selling price of the Company’s common stock. The Company plans to appeal the determination to the Exchange’s Listing Qualifications Panel, although there can be no assurance of a successful outcome.
Scorpius CEO Jeff Wolf commented, “Despite recent positive developments, the NYSE American has made the unfortunate decision to suspend trading in our securities based on our per-share price. We strongly disagree with the ruling and plan to appeal. We look forward to providing further updates.”
Scorpius Holdings, Inc.
Scorpius Holdings, Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, Texas. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit https://www.scorpiusbiologics.com.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as the Company’s plans to appeal the determination to the Exchange’s Listing Qualifications Panel and the outcome of the appeal from current expectations include, among others, the ability of the Company to successfully appeal the determination to the Exchange’s Listing Qualifications Panel and have its common stock remain listed on the NYSE American; the Company’s financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the Company’s ability to leverage fixed costs and achieve long-term profitability; the Company’s ability to obtain regulatory approvals or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company’s ability to successfully promote its services and compete as a pure-play CDMO, and other factors described in the Company’s annual report on Form 10-K for the year ended December 31, 2023, subsequent quarterly reports on Form 10-Qs and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.
Media and Investor Relations Contact
David Waldman
+1 919 289 4017
mailto://ir@scorpiusbiologics.com
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