Lyon (France) and Cambridge (MA, US), October 4, 2023, 10:05 p.m. CEST – PHAXIAM Therapeutics (Nasdaq & Euronext: PHXM), today announces that it has received confirmation from Nasdaq that it is once again in compliance with the rule rating 5550(a)(2).
With a closing price of PHAXIAM American Depositary Shares (“ADS”) greater than
$1.00 per ADS for the 10 consecutive business days from September 18 to September 29, 2023, PHAXIAM is again in compliance with Listing Rule 5550(a)(2).
On October 7, 2022, PHAXIAM, formerly Erytech Pharma, had received notification from the Nasdaq Stock Market LLC that, based on a closing price of less than $1.00 per ADS during the preceding 30 consecutive business days, the Company no longer met Nasdaq’s minimum price per share rule.
On July 27, 2023, PHAXIAM announced a 10-for-1 consolidation of its shares and ADSs in order to remedy this lack of compliance, and the consolidation of shares and ADSs was effective on September 18, 2023.
Nasdaq having notified that the Company had returned to compliance, this subject is now closed.
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