Vaccinex Faces Delisting from Nasdaq, Details Plans for OTC Quotation

Vaccinex, Inc., a clinical-stage biotechnology company based in Rochester, New York, is grappling with a potential delisting from the Nasdaq Stock Market. The company revealed that it had failed to meet Nasdaq’s continued listing standards, specifically falling short of the requirements under Nasdaq Listing Rule 5550(b)(1) to maintain a minimum of $2.5 million in stockholders’ equity.

According to a recent 8-K filing, Vaccinex received a written notice on December 16, 2024, from the Office of General Counsel of Nasdaq, informing them of the Nasdaq Hearings Panel’s decision to delist the company’s shares. Trading of Vaccinex’s Common Stock on Nasdaq is expected to be suspended starting December 18, 2024.

Following the suspension, Vaccinex anticipates that its Common Stock will be quoted under its existing symbol “VCNX” on the OTC Markets Group.

In response to these developments, on December 17, 2024, Vaccinex issued a press release addressing the delisting determination. The company emphasized its commitment to navigating these changes and ensuring transparency for its stakeholders.

Vaccinex is recognized for its innovative approach to treating neurodegenerative diseases and cancer, particularly through the inhibition of semaphorin 4D (SEMA4D). The company’s lead drug candidate, pepinemab, targets SEMA4D to combat damaging inflammation and immune cell activation in various diseases and cancer types.

The company’s Oncology clinical program includes studies in collaboration with prominent partners such as Merck Sharp & Dohme Corp. Vaccinex holds global commercial and development rights to pepinemab, positioning it as a significant player in the evolving landscape of neurodegenerative disease and oncology treatments.

While Vaccinex faces challenges with the impending delisting, the company remains focused on advancing its therapeutic solutions and maximizing opportunities for growth.

In light of the uncertainties ahead, Vaccinex cautions investors about forward-looking statements contained in the report, highlighting the inherent risks and uncertainties associated with these projections. Investors are encouraged to review the company’s filings with the Securities and Exchange Commission for a comprehensive understanding of the prevailing risks and factors impacting Vaccinex’s future endeavors.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vaccinex’s 8K filing here.

Vaccinex Company Profile

Vaccinex, Inc, a clinical-stage biotechnology company, engages in the discovery and development of targeted biotherapeutics to treat cancer, neurodegenerative diseases, and autoimmune disorders. The company's lead drug candidate, pepinemab, a humanized monoclonal antibody that binds and blocks the activity of SEMA4D.