Mr. James Parsons reports
TRILLIUM RECEIVES NASDAQ NOTIFICATION REGARDING MINIMUM BID PRICE DEFICIENCY
Trillium Therapeutics Inc. has received a notification letter from the Nasdaq Stock Market LLC notifying the company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq listing rules for continued listing on the Nasdaq Capital Market, since the closing bid price for the company's common shares listed on Nasdaq was below $1 (U.S.) for 30 consecutive trading days. Nasdaq listing rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1 (U.S.) per share, and Nasdaq listing rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days.
The notification has no immediate effect on the listing of the company's common shares on Nasdaq. In accordance with listing rule 5810(c)(3)(A), the company has a period of 180 calendar days from the date of notification, or until Oct. 2, 2019, to regain compliance with the minimum bid price requirement during which time the company's common shares will continue to trade on the Nasdaq Capital Market. If at any time before Oct. 2, 2019, the bid price of the company's common shares closes at or above $1 (U.S.) per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the company has achieved compliance with the minimum bid price requirement. In the event the company does not regain compliance by Oct. 2, 2019, the company may be eligible for additional time to regain compliance or may face delisting.
The company intends to monitor the closing bid price of its common shares between now and Oct. 2, 2019, and intends to cure the deficiency within the prescribed compliance period.
The company is also listed on the Toronto Stock Exchange and the notification letter does not affect the company's compliance status with such listing.
About Trillium Therapeutics Inc.
Trillium is an immuno-oncology company developing innovative therapies for the treatment of cancer. The company's two clinical programs, TTI-621 and TTI-622, target CD47, a do not eat signal that cancer cells frequently use to evade the immune system.
We seek Safe Harbor.
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