12 July 2018 - - San Diego, California-based cancer treatment developer MabVax Therapeutics Holdings, Inc. has decided not to submit a plan to regain compliance with NASDAQ's filing requirement and has been notified by the listing qualifications staff of NASDAQ that the company's securities will be delisted from NASDAQ, the company said.
The listing qualifications staff indicated that the determination was based upon the company's non-compliance with the filing requirement as well as the company's non-compliance with the USD2.5 m stockholders' equity requirement for continued listing on the NASDAQ capital market.
MabVax does not intend to appeal the decision and, as a result, trading of the company's common stock will be suspended on NASDAQ. NASDAQ will thereafter take action to formally remove the company's securities from listing and registration on NASDAQ via the filing of a form 25 with the Securities and Exchange Commission.
MabVax is a clinical-stage biotechnology company with a fully human antibody discovery platform focused on the rapid translation into clinical development of products to address unmet medical needs in the treatment of cancer.