Oragenics, Inc. Announces Notification of Noncompliance with Additional NYSE American Continued Listing Standards
2024年4月20日 - 6:50AM
ビジネスワイヤ(英語)
Oragenics, Inc. (NYSE American: OGEN), a company focused on
developing unique, intranasal pharmaceuticals for the treatment of
neurological disorders, today announced that it received a notice
(the “Notice”) from the NYSE American LLC (the “NYSE American”)
dated April 18, 2024, notifying the Company that it is no longer in
compliance with NYSE American continued listing standards.
Specifically, the letter states that the Company is not in
compliance with the continued listing standards set forth in
Sections 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company
Guide (the "Company Guide"). Section 1003(a)(ii) requires a listed
company to have stockholders' equity of $4 million or more if the
listed company has reported losses from continuing operations
and/or net losses in three of its four most recent fiscal years.
Section 1003(a)(iii) requires a listed company to have
stockholders' equity of $6 million or more if the listed company
has reported losses from continuing operations and/or net losses in
its five most recent fiscal years. The Company reported a
stockholders’ equity of $3.2 million as of December 31, 2023, and
losses from continuing operations and/or net losses in its five
most recent fiscal years ended December 31, 2023.
The Notice has no immediate impact on the listing of the
Company’s shares of common stock, par value $0.001 per share (the
“Common Stock”), which will continue to be listed and traded on the
NYSE American during the Plan period, subject to the Company’s
compliance with the other listing requirements of the NYSE
American. The Common Stock will continue to trade under the symbol
“OGEN”, but will have an added designation of “.BC” to indicate the
status of the Common Stock as “below compliance”. The notice does
not affect the Company’s ongoing business operations or its
reporting requirements with the Securities and Exchange
Commission.
The Company must submit a plan of compliance (the "Plan") by May
18, 2024 addressing how it intends to regain compliance with
Sections 1003(a)(ii) and (iii) of the Company Guide by October 18,
2025. The Company has begun to prepare its Plan for submission to
the NYSE American by the May 18, 2024 deadline.
If the NYSE American accepts the Company’s plan, the Company
will be able to continue its listing during the Plan period and
will be subject to continued periodic review by the NYSE American
staff. If the Plan is not submitted, or not accepted, or is
accepted but the Company is not in compliance with the continued
listing standards by October 18, 2025 or if the Company does not
make progress consistent with the Plan during the plan period, the
Company will be subject to delisting procedures as set forth in the
NYSE American Company Guide.
The Company is committed to undertaking a transaction or
transactions in the future to achieve compliance with the NYSE
American’s requirements. However, there can be no assurance that
the Company will be able to achieve compliance with the NYSE
American’s continued listing standards within the required
timeframe.
About Oragenics
Oragenics is a development-stage biotechnology company focused
on nasal delivery of pharmaceutical medications in neurology and
fighting infectious diseases, including drug candidates for
treating mild traumatic brain injury (mTBI), also known as
concussion, and for treating Niemann Pick Disease Type C (NPC), as
well as proprietary powder formulation and an intranasal delivery
device. For more information, please visit www.oragenics.com.
Forward-Looking Statements
This communication contains “forward-looking statements” within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995, including with regard to
the Company ability to timely submit its Plan to the NYSE American,
the acceptance of its Plan by the NYSE American and the Company’s
ability to regain compliance with the NYSE American’s continued
listing standards by October 18, 2025. These forward-looking
statements are based on management’s beliefs and assumptions and
information currently available. The words "believe," "expect,"
"anticipate," "intend," "estimate," "project" and similar
expressions that do not relate solely to historical matters
identify forward-looking statements. Investors should be cautious
in relying on forward-looking statements because they are subject
to a variety of risks, uncertainties, and other factors that could
cause actual results to differ materially from those expressed in
any such forward-looking statements. These factors include, but are
not limited to those described in our Form 10-K and other filings
with the U.S. Securities and Exchange Commission. All information
set forth in this press release is as of the date hereof. You
should consider these factors in evaluating the forward-looking
statements included in this press release and not place undue
reliance on such statements. We do not assume any obligation to
publicly provide revisions or updates to any forward-looking
statements, whether as a result of new information, future
developments or otherwise, should circumstances change, except as
otherwise required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240419913115/en/
Oragenics, Inc. Janet Huffman, Chief Financial Officer
813-286-7900 jhuffman@oragenics.com
LHA Investor Relations Tirth T. Patel 212-201-6614
tpatel@lhai.com
Oragenics (AMEX:OGEN)
過去 株価チャート
から 4 2024 まで 5 2024
Oragenics (AMEX:OGEN)
過去 株価チャート
から 5 2023 まで 5 2024