Akari Therapeutics fully complies with Nasdaq listing standards

2 min read | November 19, 2024 06:59 AM PST | By Team Kalkine Media

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Akari Therapeutics fully complies with Nasdaq listing standards — Image source: Shutterstock

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Highlights:

Akari Therapeutics has cured its shareholder equity deficiency and regained compliance with Nasdaq Listing Rule 5550(b).

The company's scheduled Nasdaq hearing on November 21 has been canceled as a result of the resolution.

Akari remains listed and will continue trading on the Nasdaq Capital Market.

Akari Therapeutics, (NASDAQ:AKTX) a biotechnology company focused on autoimmune, oncology, and inflammatory diseases, has announced that it has successfully addressed its shareholder equity deficiency and is now in full compliance with the Nasdaq Stock Market’s continued listing requirements. This update comes after Akari received written confirmation from Nasdaq's Listing Qualifications Staff that the deficiency under Listing Rule 5550(b) has been resolved.

As a result, the company’s previously scheduled Nasdaq hearing set for November 21, 2024, has been canceled, and Akari will continue to be traded on the Nasdaq Capital Market. This marks a key administrative milestone for the company, reaffirming its status on the prestigious stock exchange.

Samir Patel, MD, Interim President and CEO of Akari Therapeutics, expressed satisfaction with the resolution, emphasizing the importance of maintaining compliance with Nasdaq's listing standards for the benefit of the company’s shareholders. Patel also conveyed confidence in Akari’s ability to move forward and focus on executing its business strategy without the distraction of ongoing listing concerns.

Akari Therapeutics is currently advancing its pipeline of therapies, which includes its lead asset, nomacopan, an investigational bispecific recombinant inhibitor targeting complement C5 activation and leukotriene B4 activity. The company is conducting pre-clinical research on PAS-nomacopan in geographic atrophy (GA) and is also exploring its antibody-drug conjugate (ADC) platform for cancer treatments.

With the Nasdaq listing issue behind it, Akari can now concentrate on the continued development of its promising therapies and business strategy. The company remains committed to improving the lives of patients affected by autoimmune and inflammatory diseases.

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