Core Viewpoint - NKGen Biotech, Inc. has been notified of its delisting from the Nasdaq Global Market due to non-compliance with market value requirements, and will transition to trading on the OTC Markets starting March 5, 2025 [1][6] Company Developments - The company will not proceed with a previously announced 1-for-6 reverse stock split following the move away from Nasdaq [2] - NKGen has faced significant challenges related to the financial restructuring of its former parent company, NKMAX, Co. Ltd., but maintains confidence in its scientific approach to treating neurodegenerative diseases [3] - The company has received U.S. FDA Fast Track designation for its innovative NK cell therapies and has presented promising data at major Alzheimer's conferences [3] - NKGen aims to complete enrollment in its Phase 2a Alzheimer's clinical trial by the end of Q2 2025, with preliminary results expected later in the year [6] Trading Information - NKGen's common stock and warrants will trade on the OTCQX platform under the ticker symbols "NKGN" and "NKGNW" respectively [1][6] - The company has regained compliance with SEC public reporting obligations as of March 4, 2025, and intends to maintain these obligations during its transition [6]
NKGen Biotech, Inc. to Transition from the Nasdaq Global Market to OTC Markets; Reverse Stock Split will not be Implemented