Kineta, Inc. Shifts Business Operations to OTC Markets with KANT
Kineta, Inc. Transitions from Nasdaq to OTC Markets
Kineta, Inc. has completed its transition from the Nasdaq stock exchange to the OTC Markets, where it will now trade under the symbol "KANT" on the OTC Pink Open Market platform. This shift reflects the company's ongoing strategy to pursue alternatives that support its growth and innovation in the field of oncology.
Business Continuity and Commitment
Despite this transition, Kineta is dedicated to upholding high standards of corporate governance and transparency. The decision to move from Nasdaq came after the company was unable to meet certain listing requirements, including maintaining a minimum bid price of $1.00 and a stockholders' equity of at least $2.5 million as mandated under Nasdaq Listing Rules.
Impact on Shareholders
Shareholders of Kineta can rest assured that their investments remain safe. The transition was designed to be seamless, requiring no actions from shareholders to retain their investments. Kineta’s President, Craig W. Philips, has emphasized that the primary focus during this transition is to deliver shareholder value while continuing the company's Phase 1 clinical programs.
Clinical Studies and Strategic Partnerships
One of the notable advancements during this period has been the reopening of patient enrollment in the VISTA-101 Phase 1/2 clinical trial. This trial assesses KVA12123, a promising novel immunotherapy that targets cancer's immune resistance mechanisms. It is currently in the process of reinitiating enrollment with cooperation from TuHURA Biosciences, Inc., which has secured exclusivity for Kineta’s KVA12123 program through a significant agreement.
About Kineta, Inc.
Kineta, Inc. is committed to developing cutting-edge immunotherapies aimed at transforming cancer treatment. The company’s development pipeline highlights KVA12123, which is currently undergoing clinical trials aimed at treating various types of advanced solid tumors. The deep expertise of Kineta in innate immunity has positioned it uniquely to target significant challenges faced by existing cancer therapies.
Innovative Approaches
KVA12123 has displayed strong tumor growth inhibition in preclinical models, showing promise when used alone and in combination with other therapies. This pediatric trial showcases Kineta’s commitment to find innovative solutions for cancers such as non-small cell lung cancer (NSCLC), colorectal cancer, and more.
Future Outlook
Recently, Kineta underwent a substantial corporate restructuring action aimed at reducing operational costs and preserving cash. This restructuring has put the company in a more resilient position to explore strategic options that maximize stockholder value. As Kineta progresses, it is focused on its partnership with TuHURA and reinvigorating its clinical trials, anticipating significant developments that will shape the future of its product pipeline.
Frequently Asked Questions
What does the transition to OTC Markets mean for Kineta, Inc.?
The transition means that Kineta will now trade under the ticker symbol “KANT” on the OTC Pink Market, offering shareholders a new platform for trading their shares.
Will shareholders need to take any action due to the transition?
No action is required from shareholders; their investments remain intact and tradable after the switch to OTC Markets.
What is the main focus for Kineta moving forward?
Kineta’s primary focus is on advancing its clinical programs and exploring strategic alternatives to enhance value for its shareholders.
What trials are currently in progress at Kineta?
Kineta is actively working on the VISTA-101 Phase 1/2 clinical trial for its KVA12123 immunotherapy, which is aimed at treating various types of cancer.
Who can I contact for further information about Kineta?
For additional information, you can reach out to Kineta's Investor Relations via email at info@kineta.us.
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