Kitov Receives Nasdaq Notification Regarding Minimum Bid Requirements
12 Luglio 2019 - 11:11PM
Kitov Pharma Ltd. (“Kitov”) (NASDAQ/TASE: KTOV), a clinical-stage
company advancing first-in-class therapies to overcome tumor immune
evasion and drug resistance, today announced that on July 8, 2019,
the Company received a letter from the Nasdaq Listing Qualification
Department indicating that the Company is not in compliance with
the continued listing standards for the Nasdaq Capital Market, due
to the Company's current share price.
The Company's continued listing on the Nasdaq
Capital Market is contingent on regaining compliance during the
180-day period, ending on January 6, 2020. In the event that the
Company does not regain compliance during the 180-day period, the
Company may be eligible for additional time.
About Kitov Pharma
Kitov Pharma (Kitov Pharma Ltd.; NASDAQ/TASE:
KTOV) is advancing first-in-class oncology therapies to overcome
tumor drug resistance, increase treatment response rate, and slow
tumor progression. Kitov’s oncology pipeline includes NT219 a small
molecule targeting novel cancer drug resistance pathways and Kitov
is under contract to acquire 100% of FameWave Ltd. which owns
CM-24, a humanized monoclonal antibody directed against
carcinoembryonic antigen-related cell adhesion molecule 1
(CEACAM1), an immune checkpoint protein belonging to the Human CEA
(Carcino-Embryonic Antigen) protein family. CM-24 is being
developed for multiple oncological indications according to the
expression pattern of its target protein. Following the recent
receipt of the approval of Kitov’s shareholders for the acquisition
of FameWave, and the finalization of a clinical collaboration
agreement between FameWave and Bristol Myers Squibb for their
planned Phase 1/2 clinical trials to evaluate the combination of
CM-24 with nivolumab (Opdivo®), a PD-1 inhibitor, the acquisition
is expected to close during the third quarter of 2019, subject to
fulfillment of certain additional closing conditions. In addition,
Kitov’s combination drug, Consensi™, treating osteoarthritis pain
and hypertension simultaneously, was approved by the FDA for
marketing in the U.S and is partnered in the U.S, China and South
Korea.. For more information on Kitov, the content of which is not
part of this press release, please visit
http://www.kitovpharma.com.
Forward-Looking Statements and Kitov's
Safe Harbor Statement
Certain statements in this press release that are
forward-looking and not statements of historical fact are
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements include, but are not limited to,
statements that are not statements of historical fact, and may be
identified by words such as “believe”, “expect”, “intend”, “plan”,
“may”, “should”, “could”, “might”, “seek”, “target”, “will”,
“project”, “forecast”, “continue” or “anticipate” or their
negatives or variations of these words or other comparable words or
by the fact that these statements do not relate strictly to
historical matters. You should not place undue reliance on these
forward-looking statements, which are not guarantees of future
performance. Forward-looking statements reflect our current views,
expectations, beliefs or intentions with respect to future events,
and are subject to a number of assumptions, involve known and
unknown risks, many of which are beyond our control, as well as
uncertainties and other factors that may cause our actual results,
performance or achievements to be significantly different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Important factors that could cause
or contribute to such differences include, among others, risks
relating to: the lack of assurance that Kitov will be able to
regain compliance with the minimum bid price requirement or will
otherwise be in compliance with other Nasdaq listing criteria; the
manner in which the parties to the transaction for the acquisition
of FameWave by Kitov plan to effect the transaction; the expected
benefits, synergies and costs of the transaction; management plans
relating to the transaction; the expected timing of the completion
of the transaction; the parties’ ability to complete the
transaction considering the various closing conditions; the plans,
strategies and objectives of management for future operations;
product development for NT219 and CM-24; the potential future
financial impact of the transaction; and any assumptions underlying
any of the foregoing; the process by which early stage products
such as CM-24 could potentially lead to an approved product is long
and subject to highly significant risks, particularly with respect
to a joint development collaboration; the fact that drug
development and commercialization involves a lengthy and expensive
process with uncertain outcomes; our ability to successfully
develop and commercialize our pharmaceutical products; the expense,
length, progress and results of any clinical trials; the lack of
sufficient funding to finance the clinical trials; the impact of
any changes in regulation and legislation that could affect the
pharmaceutical industry; the difficulty in receiving the regulatory
approvals necessary in order to commercialize our products; the
difficulty of predicting actions of the U.S. Food and Drug
Administration or any other applicable regulator of pharmaceutical
products; the regulatory environment and changes in the health
policies and regimes in the countries in which we operate; the
uncertainty surrounding the actual market reception to our
pharmaceutical products once cleared for marketing in a particular
market; the introduction of competing products; patents attained by
competitors; dependence on the effectiveness of our patents and
other protections for innovative products; our ability to obtain,
maintain and defend issued patents with protective claims; the
commencement of any patent interference or infringement action; our
ability to prevail, obtain a favorable decision or recover damages
in any such action; and the exposure to litigation, including
patent litigation, and/or regulatory actions; the uncertainty
surrounding an investigation by the Israel Securities Authority
into our historical public disclosures and the potential impact of
such investigation on the trading of our securities or on our
clinical, commercial and other business relationships, or on
receiving the regulatory approvals necessary in order to
commercialize our products, and other factors that are discussed in
our in our Annual Report on Form 20-F for the year ended December
31, 2018 and in our other filings with the SEC, including our
cautionary discussion of risks and uncertainties under ‘Risk
Factors’ in our Registration Statements and Annual Reports. These
are factors that we believe could cause our actual results to
differ materially from expected results. Other factors besides
those we have listed could also adversely affect us. Any
forward-looking statement in this press release speaks only as of
the date which it is made. We disclaim any intention or obligation
to publicly update or revise any forward-looking statement, or
other information contained herein, whether as a result of new
information, future events or otherwise, except as required by
applicable law. You are advised, however, to consult any additional
disclosures we make in our reports to the SEC, which are available
on the SEC’s website, http://www.sec.govFor further information,
contact: Gil Efron Deputy CEO & Chief Financial
Officer +972-3-933-3121 ext. #105
IR@kitovpharma.com
Media Inquiries:Darren Opland,
Ph.D.darren@lifescipublicrelations.com+1 646 627 8387
Grafico Azioni Kitov Pharma (NASDAQ:KTOV)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Kitov Pharma (NASDAQ:KTOV)
Storico
Da Giu 2023 a Giu 2024