Purple Biotech Announces Receipt of Nasdaq Minimum Bid Price Notification

Core Points - Purple Biotech Ltd. has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as the closing bid price for its American Depositary Shares (ADSs) has been below $1.00 for 30 consecutive trading days [1] - The company has a 180-day period until April 14, 2026, to regain compliance by achieving a closing bid price of $1.00 or more for at least ten consecutive business days [2] - The notification does not affect the company's current Nasdaq listing or trading of its ADSs, which will continue under the symbol "PPBT" [3] Compliance and Remediation - If compliance is not regained by April 14, 2026, the company may be eligible for an additional 180 days to cure the deficiency, provided it meets other listing requirements [4] - The company intends to monitor its ADS closing bid price and may consider options to regain compliance, including potentially changing the ADS to ordinary shares ratio [5] Company Overview - Purple Biotech is a clinical-stage company focused on developing first-in-class therapies to combat tumor immune evasion and drug resistance, with a pipeline that includes CAPTN-3, CM24, and NT219 [6] - CAPTN-3 is a preclinical platform utilizing tri-specific antibodies to enhance immune response within the tumor microenvironment, while CM24 is a humanized monoclonal antibody targeting CEACAM1 to block tumor immune evasion [6][7] - NT219 is a novel small molecule that targets IRS1/2 and STAT3, showing anti-tumor activity in combination with cetuximab in clinical studies [7]