Wednesday, 17 July 2019

Synthetic Biologics regains compliance with NYSE American continued listing standards

02 July 2019 | News

The Company previously received notification from the NYSE American citing failure to comply with the minimum stockholders' equity continued listing standard as set forth in Part 10, Section 1003 of the Company Guide.

Synthetic Biologics, a late-stage clinical company developing therapeutics that preserve the microbiome to protect and restore the health of patients, announced today receipt, on June 28, 2019, of notification from the NYSE American LLC that the Company has regained compliance with Part 10, Section 1003 of the NYSE American's Company Guide relating to the Exchange's continued listing requirements.

The Company previously received notification from the NYSE American citing failure to comply with the minimum stockholders' equity continued listing standard as set forth in Part 10, Section 1003 of the Company Guide. As a result of management's efforts to regain compliance, the Exchange has informed the Company that it has cured the previously cited deficiencies and is in full compliance with the continued listing standards set forth in Part 10 of the Company Guide since it reported stockholders' equity of approximately $13.5 million in its most recent Form 10-Q, filed with the Securities and Exchange Commission (SEC) on May 8, 2019. Effective at the start of trading on July 1, 2019, the ".BC" designation, signifying non-compliance with NYSE American listing standards, will be removed from the "SYN" trading symbol.

Synthetic Biologics, is a clinical-stage company developing therapeutics that preserve the microbiome to protect and restore the health of patients. The Company's lead candidates are: (1) SYN-004 (ribaxamase) which is designed to degrade certain commonly used intravenous (IV) beta-lactam antibiotics within the gastrointestinal (GI) tract to prevent microbiome damage, C. difficile infection (CDI), overgrowth of pathogenic organisms, the emergence of antimicrobial resistance (AMR) and acute graft-versus-host-disease (aGVHD) in allogeneic hematopoietic cell transplant (HCT) recipients, and (2) SYN-010, which is intended to reduce the impact of methane-producing organisms in the gut microbiome to treat an underlying cause of irritable bowel syndrome with constipation (IBS-C). The Company's preclinical pursuits include SYN-020, an oral formulation of the enzyme intestinal alkaline phosphatase (IAP) to treat both local GI and systemic diseases as well as monoclonal antibody therapies for the prevention and treatment of pertussis. 

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