NYSE American Initiates Delisting Proceedings for BiomX Warrants
Shares of the Company’s common stock and units (PHGE and PHGE.U) are unaffected by delisting proceedings of warrants and will remain trading on NYSE American
CAMBRIDGE, Mass. and NESS ZIONA, Israel, June 08, 2023 (GLOBE NEWSWIRE) -- BiomX Inc. (NYSE American: PHGE) (“BiomX” or the “Company”), a clinical-stage company advancing novel natural and engineered phage therapies that target specific pathogenic bacteria, today announced that the Company’s warrants (“the Warrants”), which have been listed on NYSE American under the ticker symbol, PHGE.WS, are in the process of being delisted. Trading in the Company’s Warrants was suspended as of Monday, June 5, 2023.
The delisting of the Company’s Warrants is expected to have no impact on the continued listing of the Company’s common stock — ticker symbol PHGE — and units — ticker symbol PHGE.U — which will continue to trade on the NYSE American.
On June 2, 2023, NYSE Regulation announced delisting proceedings with respect to the Company’s Warrants after determining that the Warrants, which were each exercisable for one-half of a share of common stock, at an exercise price of $11.50 per share, were no longer suitable for listing pursuant to Section 1001 of the NYSE American Company Guide due to the low trading price of the Warrants.
BiomX is a clinical-stage company developing both natural and engineered phage cocktails designed to target and destroy bacteria in the treatment of chronic diseases. BiomX discovers and validates proprietary bacterial targets and customizes phage compositions against these targets. For more information, please visit www.biomx.com, the content of which does not form a part of this press release.
This press release contains express or implied “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. For example, when BiomX states that the delisting of the Company’s Warrants is expected to have no impact on the continued listing of the Company’s common stock and units, BiomX is making forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on BiomX management’s current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of BiomX’s control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements and should review the risks and uncertainties described under the caption “Risk Factors” in BiomX’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 29, 2023 and additional disclosures BiomX makes in its other filings with the SEC, which are available on the SEC’s website at www.sec.gov. Forward-looking statements are made as of the date of this press release, and except as provided by law BiomX expressly disclaims any obligation or undertaking to update forward-looking statements.
LifeSci Advisors, LLC
Corporate Project Manager
+972 (50) 697-7228
Source: BiomX Inc.
Released June 8, 2023