Hillstream BioPharma Regains Compliance with Nasdaq Listing Minimum Bid Price Rule
15 February 2023 - 11:11PM
Hillstream BioPharma, Inc. (Nasdaq: HILS) ("Hillstream" or the
"Company"), a biotechnology company developing therapeutic
candidates targeting drug resistant and devastating cancers using
ferroptosis, an emerging new anti-cancer mechanism resulting in
iron-mediated cell death, and immuno-oncology targeted novel
biologics, today announced that it has regained compliance with the
Nasdaq listing minimum bid price requirement for continued listing
on the Nasdaq Capital Market exchange.
“Ever since our IPO, our Nasdaq listing is an important
underlying component of our capital markets strategy,” said Randy
Milby, CEO of Hillstream. “Although we don’t control our share
price, we remain ever steadfast and working as diligently as
possible to advance our therapeutic candidates and execute on our
business plan.”
Hillstream was previously notified by Nasdaq on October 22,
2022 that it was not in compliance with the minimum bid-price
listing rule (under Rule 5550(a)(2)) because its common stock
failed to meet the closing bid price of $1.00 or more for
30 consecutive business days. To regain compliance , the Company
was required to maintain a minimum closing bid price
of $1.00 or more for at least ten consecutive trading
days which was met on February 13, 2023.
The Company hosted its virtual R&D Day on February 14, 2023
where it covered its product and pipeline goals across its 4
pipeline candidates. Hillstream recently signed an exclusive option
agreement with Applied Biomedical Science Institute to license
technology for HER2 and HER3 to be developed for potential
treatments against drug resistant cancers including HER2-positive
metastatic breast cancer, gastric cancer, lung cancer and ovarian
cancer.
On February 10th, Hillstream announced a recent preclinical
study of its lead drug candidate HSB-1216 in combination with
pembrolizumab, demonstrating positive results against
KRAS-G12C-mutated non-small cell lung cancer cells.
About Hillstream BioPharma Inc.Hillstream
BioPharma, Inc. is a biotechnology company developing therapeutic
candidates targeting drug resistant and devastating cancers using
ferroptosis, an emerging new anti-cancer mechanism resulting in
iron mediated cell death, and immuno-oncology targeted novel
biologics. The Company’s most advanced candidate, HSB-1216,
expected to enter clinical trials in 2023, targets ferroptosis, an
emerging new anti-cancer mechanism resulting in iron mediated cell
death (IMCD) of drug resistant cancers. The Company’s emerging
immuno-oncology pipeline is led by the HSB-1940 Quatrabody™, an
anti-PD-1 novel biologic coated onto Quatramers, expected to enter
the clinic in 2024. Hillstream’s Quatramer™ proprietary tumor
targeting platform extends duration of action and minimizes
off-target toxicity for biologics, mRNA, peptides, small molecules
and other modalities in the tumor microenvironment. Quatrabody
conjugates novel biologics developed against undruggable epitopes
of validated immuno-oncology targets, including PD-1, HER2, PDL-1
and TROP2 with greater binding affinity than approved therapies.
For more information, please visit: www.hillstreambio.com.
Forward Looking StatementsCertain statements in
this press release are forward-looking within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements
may be identified using words such as “anticipate,” “believe,”
“forecast,” “estimated” and “intend” or other similar terms or
expressions that concern Hillstream’s expectations, strategy, plans
or intentions. These forward-looking statements are based on
Hillstream’s current expectations and actual results could differ
materially. There are several factors that could cause actual
events to differ materially from those indicated by such
forward-looking statements. These factors include, but are not
limited to, clinical trials involve a lengthy and expensive process
with an uncertain outcome, and results of earlier studies and
trials may not be predictive of future trial results; our clinical
trials may be suspended or discontinued due to unexpected side
effects or other safety risks that could preclude approval of our
product candidates; risks related to business interruptions,
including the outbreak of COVID-19 coronavirus, which could
seriously harm our financial condition and increase our costs and
expenses; dependence on key personnel; substantial competition;
uncertainties of patent protection and litigation; dependence upon
third parties; and risks related to failure to obtain FDA
clearances or approvals and noncompliance with FDA regulations.
Investors should read the risk factors set forth in our Form 10-K
for the year ended December 31, 2021 and our periodic reports filed
with the Securities and Exchange Commission. While the list of
factors presented here is considered representative, no such list
should be considered to be a complete statement of all potential
risks and uncertainties. Unlisted factors may present significant
additional obstacles to the realization of forward-looking
statements. Forward-looking statements included herein are made as
of the date hereof, and Hillstream does not undertake any
obligation to update publicly such statements to reflect subsequent
events or circumstances.
Investor Relations
ContactEmail: investorrelations@hillstreambio.com www.hillstreambio.com
Hillstream BioPharma (NASDAQ:HILS)
Historical Stock Chart
From Apr 2024 to May 2024
Hillstream BioPharma (NASDAQ:HILS)
Historical Stock Chart
From May 2023 to May 2024