PHAXIAM receives notice of compliance from Nasdaq
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
American Depositary Shares
(“ADS”) of PHAXIAM 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, received notification from
Nasdaq Stock Market LLC
stating that, based on a closing price of less than $1.00 per ADS during the preceding 30 consecutive business days, the Company no longer satisfied the Nasdaq 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.
About PHAXIAM Therapeutics
PHAXIAM is a biopharmaceutical company that develops innovative treatments against resistant bacterial infections, responsible for many serious infections. The company relies on an innovative approach based on the use of phages, natural bacteria-killing viruses. PHAXIAM is developing a portfolio of phages targeting 3 of the most resistant and dangerous bacteria, which alone represent more than two thirds of resistant nosocomial infections: Staphylococcus aureus, Escherichia coli and Pseudomonas aeruginosa.
PHAXIAM is listed on the Nasdaq Capital Market in the United States (ticker: PHXM) and on the regulated market of Euronext in Paris (ISIN code: FR0011471135, ticker: PHXM). PHAXIAM is part of the CAC Healthcare, CAC Pharma & Bio, CAC Mid & Small, CAC All Tradable, EnterNext PEA-PME 150 and Next Biotech indices.
For more information, please visit
www.phaxiam.com
Contacts
|
PHAXIAM Eric Soyer COO & CFO Chief Operating Officer +33 4 78 74 44 38 [email protected] |
NewCap Mathilde Bohin / Dušan Orešanský Investor relations Arthur Rouille Media Relations +33 1 44 71 94 94 [email protected] |
Attachment
CP_04102023_PHAXIAM_Nasdaq_compliance_FR