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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.
