Kiromic BioPharma announces settlement of SEC investigation

Kiromic BioPharma (KRBP) announced that it has entered into a settlement agreement with the U.S. SEC, resolving the previously disclosed SEC investigation arising from the non-disclosure by Kiromic’s prior executive management of the clinical holds placed on the investigational new drug applications the company filed with the U.S. Food and Drug Administration in May 2021. The IND applications pertained to ALEXIS-PRO-1 and ALEXIS-ISO-1. In light of the company’s self-reporting, prompt remediation and cooperation, the SEC has determined not to impose a civil penalty on the company and there are no ongoing undertakings in connection with the settlement.