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(September 13, 2017)
LOS ANGELES, Sept. 13, 2017 /PRNewswire/ -- ImmunoCellular Therapeutics, Ltd. ("ImmunoCellular" or the "Company") (NYSE MKT: IMUC) today announced that the NYSE MKT LLC (the "NYSE MKT") has accepted the Company's plan to regain compliance with the exchange's continued listing standards set forth in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE MKT Company Guide (the "Company Guide").
As previously reported by the Company in a Form 8-K filed on June 29, 2017, the Company was previously notified by NYSE MKT that it was not in compliance with the stockholders' equity continued listing standard as set forth in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company Guide, which require stockholders' equity of $6.0 million or more if the Company has reported losses from continuing operations and/or net losses in its five most recent fiscal years. In order to maintain its listing, the Company submitted a plan of compliance addressing how it intends to regain compliance and the plan has been accepted by the NYSE MKT. The Company has been granted until December 23, 2018, subject to periodic review by the NYSE MKT for compliance with the initiatives set forth in the plan, to regain compliance. If the Company is not in compliance with the continued listing standards by December 23, 2018, or if it does not make progress consistent with the plan during the plan period, the NYSE MKT staff may initiate delisting proceedings as appropriate.
The NYSE MKT notice has no immediate impact on the listing of the Company's common stock, which will continue to trade on the NYSE MKT exchange under the symbol "IMUC," with the added designation of ".BC" to indicate that the Company is not in compliance with the NYSE MKT's listing standards, subject to periodic review by the NYSE MKT.
About ImmunoCellular Therapeutics, Ltd.
ImmunoCellular Therapeutics, Ltd. is a Los Angeles-based clinical-stage company that is developing immune-based therapies for the treatment of brain and other cancers. ImmunoCellular's pipeline includes: a Stem-to-T-Cell research program, which engineers hematopoietic stem cells to generate cytotoxic T cells; ICT-121, a patient-specific, dendritic cell-based immunotherapy targeting CD133 found in recurrent glioblastoma; and ICT-140, a patient-specific, dendritic cell-based immunotherapy targeting ovarian cancer. ImmunoCellular recently announced the wind-down of its phase 3 trial of ICT-107 in HLA-A2 patients while it pursues a collaborative arrangement or sale of its ICT-107 program. To learn more about ImmunoCellular, please visit www.imuc.com.
This press release contains certain forward-looking statements, including statements regarding ImmunoCellular's intentions and current expectations concerning, among other things, whether ImmunoCellular's ability to timely submit a plan of compliance; ImmunoCellular's ability to regain compliance with the NYSE MKT LLC's listing standards; and ImmunoCellular's ability to achieve its other clinical, operational, strategic and financial goals. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and reported results should not be considered as an indication of future performance. These risks and uncertainties include the risk that the Company will not be able to timely regain compliance with the NYSE MKT LLC's listing standards. Additional risks and uncertainties are described under the heading "Risk Factors" in ImmunoCellular's most recently filed quarterly report on Form 10-Q for the period ended June 30, 2017. These forward-looking statements speak only as of the date hereof. ImmunoCellular undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
ImmunoCellular Therapeutics, Ltd.
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SOURCE ImmunoCellular Therapeutics, Ltd.
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