Purple Biotech Faces Nasdaq Compliance Challenge
Updates from Purple Biotech
Purple Biotech Ltd. (NASDAQ/TASE: PPBT) is a promising clinical-stage company focused on creating breakthrough therapies to combat tumor immune evasion and drug resistance. Recently, the company faced a notification from Nasdaq indicating that its American Depositary Shares (ADSs) were not complying with the minimum bid price requirement. As of October 16, 2025, Purple Biotech's ADSs had been trading below the $1.00 threshold for over 30 consecutive days, raising concerns about its continued listing on the Nasdaq Capital Market.
Navigating Nasdaq Compliance
According to Nasdaq Listing Rule 5810(c)(3)(A), Purple Biotech has a 180-calendar-day window to regain compliance, which will last until April 14, 2026. The company must ensure that its closing bid price reaches $1.00 or higher for at least ten consecutive trading days. If this criterion is met, Nasdaq will issue a confirmation of compliance, allowing the company to continue trading smoothly.
Pursuing Compliance Solutions
During the compliance period, any effort to address the bid price deficiency will be crucial. Purple Biotech plans to actively monitor its ADS market performance and explore strategic options. One potential solution could involve adjusting the ratio of ADSs to ordinary shares, a tactic some companies utilize during compliance challenges. This proactive stance indicates the company's commitment to maintaining its Nasdaq listing.
Impact on Trading
Despite the notification from Nasdaq, it’s important to note that this does not immediately affect the trading of Purple Biotech's ADSs, which will continue to be listed under the symbol “PPBT”. Furthermore, the situation will not impact its listing on the Tel Aviv Stock Exchange, where its ordinary shares are also traded under the same symbol. This stability in their market presence demonstrates the company’s intent to keep operations uninterrupted while they work towards compliance.
About Purple Biotech
Purple Biotech Ltd. is at the frontier of oncology with its innovative therapies, including CAPTN-3, CM24, and NT219. CAPTN-3 is a unique platform of tri-specific antibodies designed to enhance T-cell and Natural Killer (NK) cell activation, targeting tumor microenvironments effectively. This innovative technology may improve treatment outcomes for patients facing solid tumors.
Advancing Clinical Research
The company continues to make strides in research with its tri-specific antibodies. IM1240, the first among them, targets the 5T4 antigen prevalent in various solid tumors associated with advanced disease, while IM1305 focuses on the TROP2 Tumor Associated Antigen (TAA). CM24, on the other hand, is a humanized monoclonal antibody blocking CEACAM1, which plays a significant role in tumor survival and immune evasion. Recent clinical trials have shown promising results, indicating significant improvement in therapy effectiveness, particularly in pancreatic cancer when combined with existing treatment options.
Conclusion
As Purple Biotech works diligently to navigate this Nasdaq compliance challenge, the company remains dedicated to advancing its pioneering cancer therapies. The potential to overcome the current bid price deficiency is on the horizon, with measures in place to ensure the best possible outcomes for shareholders and patients alike. Keeping an eye on compliance trends and developing therapies form the crux of Purple Biotech's operations, an approach that reflects their commitment to innovation and patient care.
Frequently Asked Questions
What is the recent Nasdaq notification about?
Purple Biotech was notified that its ADSs did not meet the minimum $1.00 bid price requirement for continued listing on Nasdaq.
How long does Purple Biotech have to regain compliance?
The company has 180 days, until April 14, 2026, to achieve compliance with the minimum bid price rule.
What happens if compliance is not regained?
If compliance is not regained within the period, Purple Biotech may request an additional 180 days or face potential delisting from Nasdaq.
Are there any immediate effects on trading due to this notification?
No, the notification does not impact the current trading status of the company's ADSs on Nasdaq.
What are the key therapies being developed by Purple Biotech?
Key therapies include CAPTN-3, CM24, and NT219, focusing on overcoming immune evasion and drug resistance in cancer treatment.
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