Regains Compliance with Rule 5550(b)(2)
EDINBURGH, Scotland, July 31, 2023 /PRNewswire/ -- TC BioPharm (Holdings) PLC ("TC BioPharm" or the "Company") (NASDAQ: TCBP) a clinical stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer, announced that the Company has regained compliance with the Nasdaq Stock Market Listing Rule 5550(b) which will maintain the listing of the Company's American depositary shares on the Nasdaq Global Select Market.
As previously reported on January 19, 2019, the Company received a letter from the listing qualifications staff of the Nasdaq Stock Market, LLC ("Nasdaq") indicating that the Company has not regained compliance with the minimum Market Value of Listed Securities ("MVLS") of $35,000,000 required for continued listing on The Nasdaq Capital Market or the alternative criteria , as set forth in Nasdaq Listing Rule 5550(b) (the "MVLS Requirement").
Subsequently, the Company submitted to Nasdaq a plan to regain compliance with Nasdaq listing rules. After reviewing the plan of the Company to regain compliance, On July 27, 2023, we received a letter from Nasdaq notifying the Company that the Panel has concluded we have regained compliance with the shareholder equity concerns as mentioned previously. The Company will be subject to a Mandatory Panel Monitor for a period of one year from July 27, 2023.
For more information, please view the 6K filing here: https://www.sec.gov/Archives/edgar/data/1872812/000149315223025993/form6-k.htm
About TC BioPharm (Holdings) PLC
TC BioPharm is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of gamma-delta T cell therapies for the treatment of cancer with human efficacy data in acute myeloid leukemia. Gamma-delta T cells are naturally occurring immune cells that embody properties of both the innate and adaptive immune systems and can intrinsically differentiate between healthy and diseased tissue. TC BioPharm uses an allogeneic approach in both unmodified and CAR modified gamma-delta T cells to effectively identify, target and eradicate both liquid and solid tumors in cancer.
TC BioPharm is the leader in developing gamma-delta T cell therapies, and the first company to conduct phase II/pivotal clinical studies in oncology. The Company is conducting two investigator-initiated clinical trials for its unmodified gamma-delta T cell product line - Phase 2b/3 pivotal trial for OmnImmune® in treatment of acute myeloid leukemia using the Company's proprietary allogeneic CryoTC technology to provide frozen product to clinics worldwide. TC BioPharm also maintains a robust pipeline for future indications in solid tumors as well as a significant IP/patent portfolio in the use of CARs with gamma-delta T cells and owns our manufacturing facility to maintain cost and product quality controls.
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SOURCE TC BioPharm