BiomX Faces NYSE Delisting Over Equity Deficiency

BiomX (PHGE) has issued an announcement.

BiomX, Inc. has been notified by NYSE American that it’s not meeting the required listing standards due to a deficiency in stockholders’ equity, having reported losses over recent fiscal years. The company must submit a compliance plan by June 22, 2024, to regain compliance by November 23, 2025. BiomX recently raised $50 million, which wasn’t counted towards equity, but upcoming stockholder approval could convert preferred stock to common stock, potentially resolving the equity issue. Despite the notice, BiomX shares continue to trade, with a “.BC” indicator signaling their non-compliance status. The company’s future ability to comply with listing standards remains uncertain.

For a thorough assessment of PHGE stock, go to TipRanks’ Stock Analysis page.