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SOURCE MabVax Therapeutics Holdings, Inc.
SAN DIEGO, July 5, 2018 /PRNewswire/ — MabVax Therapeutics Holdings, Inc. (Nasdaq: MBVX), a clinical-stage biotechnology company with a fully human antibody discovery platform focused on the development of antibody-based products to address unmet medical needs in the treatment of cancer, announced today that as a result of the Company’s decision not to submit a plan to regain compliance with Nasdaq’s filing requirement, which a decision was announced by the Company in a press release on July 2, 2018, and, on that same date, the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notified the Company of its determination to delist the Company’s securities from Nasdaq. The Staff indicated that the determination was based upon the Company’s non-compliance with the filing requirement as well as the Company’s non-compliance with the $2.5 million stockholders’ equity requirement for continued listing on The Nasdaq Capital Market.
The Company does not intend to appeal the Staff’s decision and, as a result, trading of the Company’s common stock will be suspended on Nasdaq at the open of business on Wednesday, July 11, 2018. Nasdaq will thereafter take action to formally remove the Company’s securities from listing and registration on Nasdaq via the filing of a Form 25 with the Securities and Exchange Commission.
MabVax Therapeutics Holdings, Inc. is a clinical-stage biotechnology company with a fully human antibody discovery platform focused on the rapid translation into clinical development of products to address unmet medical needs in the treatment of cancer. Our antibody MVT-5873, is