TIDMDDDD
RNS Number : 5441Q
4d Pharma PLC
28 June 2022
4D PHARMA PLC ("4D pharma") RECEIVES NOTICE OF DELISTING FROM
NASDAQ
Leeds, UK, 28 June, 2022 - 4D pharma plc (AIM: DDDD, NASDAQ:
LBPS), a pharmaceutical company leading the development of Live
Biotherapeutic products (LBPs), a novel class of drug derived from
the microbiome, today announces that on June 27, 2022, it received
written notice from The Nasdaq Stock Market LLC ("Nasdaq") stating
that in accordance with Listing Rules 5101, 5110(b), and IM-5101-1,
Nasdaq Staff (the "Staff") has determined that 4D pharma's
securities will be delisted from The Nasdaq Stock Market.
Accordingly, trading of 4D pharma's LBPS will be suspended at the
opening of business on July 7, 2022, and a Form 25-NSE will be
filed with the Securities and Exchange Commission, which will
remove 4D pharma's securities from listing and registration on The
Nasdaq Stock Market.
The Staff's determination was based on the following factors:
the associated public interest concerns raised by 4D pharma's press
release dated June 24, 2022 in which 4D pharma announced that it
had been placed into administration under English law; and concerns
regarding the residual equity interest of the existing holders of
listed securities.
4D pharma may appeal the Staff's determination to the Hearing
Panel, pursuant to the procedures set forth in the Nasdaq Listing
Rule 5800 Series.
About 4D pharma
4D pharma is a world leader in the development of Live
Biotherapeutics, a novel and emerging class of drugs, defined by
the FDA as biological products that contain a live organism, such
as a bacterium, that is applicable to the prevention, treatment or
cure of a disease. 4D pharma has developed a proprietary platform,
MicroRx(R), that rationally identifies Live Biotherapeutics based
on a deep understanding of function and mechanism.
4D pharma's Live Biotherapeutic products (LBPs) are orally
delivered single strains of bacteria that are naturally found in
the healthy human gut. 4D pharma has six clinical programs, namely
a Phase I/II study of MRx0518 in combination with KEYTRUDA(R)
(pembrolizumab) in solid tumors, a Phase II clinical trial of
MRx0518 in combination with BAVENCIO(R) (avelumab) in the
first-line maintenance setting for urothelial carcinoma, a Phase I
study of MRx0518 in a neoadjuvant setting for patients with solid
tumors, a Phase I study of MRx0518 in patients with pancreatic
cancer, a Phase I/II study of MRx-4DP0004 in asthma, and Blautix(R)
in irritable bowel syndrome (IBS) which has completed a successful
Phase II trial. Additional preclinical-stage programs include
candidates for CNS disease, immune-inflammatory conditions and
cancer. 4D pharma has a research collaboration with MSD (a
tradename of Merck & Co., Inc., Kenilworth, NJ, USA), to
discover and develop Live Biotherapeutics for vaccines.
For more information, refer to https://www.4dpharmaplc.com .
Forward-Looking Statements
This announcement contains "forward-looking statements." All
statements other than statements of historical fact contained in
this announcement, including without limitation statements
regarding the timing of studies, are forward-looking statements
within the meaning of Section 27A of the United States Securities
Act of 1933, as amended (the "Securities Act"), and Section 21E of
the United States Securities Exchange Act of 1934, as amended (the
"Exchange Act"). Forward-looking statements are often identified by
the words "believe," "expect," "anticipate," "plan," "intend,"
"foresee," "should," "would," "could," "may," "estimate," "outlook"
and similar expressions, including the negative thereof. The
absence of these words, however, does not mean that the statements
are not forward-looking. These forward-looking statements are based
on 4D pharma's current expectations, beliefs and assumptions
concerning future developments and business conditions and their
potential effect on 4D pharma. While management believes that these
forward-looking statements are reasonable as and when made, there
can be no assurance that future developments affecting 4D pharma
will be those that it anticipates.
All of 4D pharma's forward-looking statements involve known and
unknown risks and uncertainties, some of which are significant or
beyond its control, and assumptions that could cause actual results
to differ materially from 4D pharma's historical experience and its
present expectations or projections. The foregoing factors and the
other risks and uncertainties that could cause actual results to
differ materially include potential delays in the process of
delisting and, if pursued by 4D pharma, the outcome of any appeal
of the Staff's determination. 4D pharma wishes to caution you not
to place undue reliance on any forward-looking statements, which
speak only as of the date hereof. 4D pharma undertakes no
obligation to publicly update or revise any of its forward-looking
statements after the date they are made, whether as a result of new
information, future events or otherwise, except to the extent
required by law.
Contact Information:
4D pharma
Investor Relations ir@4dpharmaplc.com
Singer Capital Markets - Nominated Adviser and Joint Broker
Philip Davies / James Fischer (Corporate Finance) +44 (0)20 7496
3000
Tom Salvesen (Corporate Broking)
Bryan Garnier & Co. Limited - Joint Broker
Dominic Wilson +44 (0)20 7332 2500
Stern Investor Relations
Julie Seidel +1-212-362-1200
julie.seidel@sternir.com
Image Box Communications
Neil Hunter / Michelle Boxall +44 (0)20 8943 4685
neil@ibcomms.agency / michelle@ibcomms.agency
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END
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