NKGen Biotech Announces New Funding to Regain Compliance with Reporting Obligations and Listing Standards

Core Viewpoint - NKGen Biotech, Inc. has successfully raised $2 million from a Japanese strategic investor to support the development of its NK cell therapy, troculeucel, and to regain compliance with financial reporting obligations [2][3][4] Funding and Financial Compliance - The new funding consists of common stock priced at $0.25 per share and warrants, aimed at addressing the company's reporting obligations and listing standards [3] - The company plans to temporarily move its share trading to the OTC Expert Market, with the potential to uplist to OTCQB once SEC filings are current, and aims to return to Nasdaq or NYSE American thereafter [4] Strategic Developments - The investment comes at a critical time following the bankruptcy of NKGen's former parent company, NKMax Co., Ltd., which had disrupted capital raising efforts [4] - The company has secured a majority stake in NKMax out of bankruptcy, which is expected to close soon, allowing consolidation of key intellectual property rights across Asia [4] Product Development - Troculeucel is being developed for neurodegenerative disorders and various cancers, with its International Nonproprietary Name (INN) approved by the WHO, marking a significant milestone for NKGen [6] Future Plans - The company is committed to regaining compliance with financial filings and aims to uplist to Nasdaq or NYSE American as soon as it meets the necessary requirements [4]