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BiomX (NYSE:PHGE) Inc. (NYSE American: PHGE), a biotechnology company specializing in biological products, announced on Monday that it has been granted an extension to regain compliance with the NYSE American's continued listing standards.
The company, formerly known as Chardan Healthcare Acquisition Corp., received a notification from the NYSE American on July 23, 2024, stating that its plan to meet the exchange's requirements has been accepted.
The company now has until November 23, 2025, to satisfy the listing standards, which it failed to meet earlier in the year. On May 23, 2024, BiomX was informed by the NYSE American that it was not in compliance with certain financial conditions outlined in the exchange's Company Guide.
During this extension period, BiomX will undergo periodic reviews to assess its progress according to the goals set forth in its compliance plan. The company has expressed its intention to take all reasonable measures to meet the listing criteria within the newly established timeframe.
The acceptance of the compliance plan and the extension granted by the NYSE American does not have an immediate effect on the trading of BiomX's common stock, which will continue to be listed under the ticker symbol "PHGE". The company emphasized that this regulatory matter will not impact its business operations or its SEC reporting obligations.
Investors should note that forward-looking statements regarding BiomX's expectations to regain compliance involve risks and uncertainties. The company's filings with the SEC, including its Annual Report on Form 10-K filed on April 4, 2024, detail these risks. BiomX's Chief Financial Officer, Marina Wolfson, signed off on the report filed with the SEC on July 29, 2024.
This news article is based on a press release statement from BiomX Inc. and provides a summary of the key information contained in the company's recent SEC filing.
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