Aphton receives delisting notice from Nasdaq, will attempt to regain compliance

By E. Janene Geiss

Philadelphia, Nov. 1 - Aphton Corp. said Tuesday it received a delisting notice from the Nasdaq stock market, but said it continues to explore financing alternatives that would allow it to regain compliance.

Aphton officials said in a news release that it received notice Oct. 26 that it doesn't comply with Marketplace Rule 4310 (c) (B) (ii), which requires the company to maintain a market value of listed securities of $35 million.

The company has 30 days, or until Nov. 25, to regain compliance or be delisted.

If delisted, Aphton has the right to appeal the staff determination. The company's securities will remain listed until completion of the appeal process, officials said.

The company said it continues to explore a number of financing alternatives that include licensing or selling intellectual property, selling assets, equity and restructuring or refinancing debt.

Aphton is a Philadelphia-based biopharmaceutical company focused on developing targeted immunotherapies for cancer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.