Navigation Links
iBio, Inc. Receives Anticipated Notice from NYSE MKT that Company is Below Certain Continued Listing Standards
Date:3/4/2013

NEWARK, Del., March 4, 2013 /PRNewswire/ -- iBio, Inc. (NYSE MKT: IBIO) today announced that it has been notified by the NYSE MKT (the "Exchange") Staff that the Company is currently not in compliance with the listing standard set forth in Section 1003(a)(ii) of the NYSE MKT Company Guide.  This standard applies if a listed company has stockholders' equity of less than $4,000,000 and net losses in three of its most recent four years. 

(Logo:  http://photos.prnewswire.com/prnh/20120419/NY91086LOGO)

As previously announced, in December 2012 the Company submitted, and the Exchange subsequently accepted a plan of compliance which is intended to restore the Company's compliance with the Exchange's continued listing criteria set forth in Section 1003(a)(iii) of the NYSE MKT Company Guide.  These listing criteria apply if a listed company has stockholders' equity of less than $6,000,000 and net losses in its five most recent years.  

Due to the higher stockholder's equity requirement contained in Section 1003(a)(iii), the Company is not required to submit an additional plan of compliance in connection with the deficiency noticed in the Exchange's most recent correspondence.  

The Company, pursuant to an extension of time previously granted by the Exchange, must regain compliance with Exchange's continued listing standards, including the criteria contained in each of Section 1003(a)(ii) and Section 1003(a)(iii), by October 14, 2013.  During this extension period, the Company will be subject to periodic review by the Staff of the Exchange.  The failure by the Company to make progress consistent with the accepted plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the Exchange.

About iBio, Inc.
iBio develops and offers product applications of its iBioLaunch™ and iBioModulator™ platforms, providing collaborators full support for turn-key implementation of its technology for both proprietary and biosimilar products. The iBioLaunch platform is a proprietary, transformative technology for development and production of biologics using transient gene expression in unmodified green plants. Advantages over other systems may include: success with proteins difficult or impossible to produce with other methods; broadly applicable to biologics, including therapeutic proteins and vaccines; production time measured in weeks instead of months or more. Additional benefits may include: surge capacity for remedial action against bioterrorism and pandemic disease; product entry that is unconstrained by traditional process patents, and significantly lower capital and operating costs for comparable production. The iBioModulator platform is complementary to the iBioLaunch platform and is designed to significantly improve vaccine products by increasing potency and lengthening duration of effect. The iBioModulator platform can be used with any recombinant expression technology for vaccine development and production. Further information is available at: www.ibioinc.com.

Forward-Looking Statements 

Various statements in this release concerning iBio's future expectations, plans and prospects, including without limitation, iBio's ability to regain compliance with the continued listing standards on a timely basis constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995.  Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, without limitation, iBio's failure to make progress consistent with the plan approved by the Exchange or iBio's failure to meet other criteria necessary for continued listed on the Exchange, as well as those risks more fully discussed in the "Risk Factors" section of the documents filed by the Company with the Securities and Exchange Commission.  In addition, any forward-looking statements represent iBio's views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.  iBio does not assume any obligation to update any forward-looking statements.

Contacts

iBio, Inc.
Andrea Corcoran
302-355-0624
acorcoran@ibioinc.com

 


'/>"/>
SOURCE iBio, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. iBio, Inc. Receives Notice from NYSE MKT Staff that Company Currently is Below Certain Continued Listing Standards
2. iBio, Inc. and GE Healthcare form new global alliance
3. iBio, Inc. Prices $10 Million Public Offering
4. iBio, Inc. Submits Plan to Satisfy NYSE Amex Continued Listing Standards
5. Zyomyx, Inc. Receives ISO 13485: 2003 Certification
6. New Science Fiction Novel Paints Terrifying Picture of Dystopian Future: Young Author Receives Glowing Reviews
7. Rosemary Gladstar Receives First-Annual ABC Mark Blumenthal Herbal Community Builder Award
8. Next Breath Receives ISO/IEC 17025:2005 Accreditation from the American Association for Laboratory Accreditation
9. OsteoFabâ„¢ Patient Specific Cranial Device Receives 510(k) Approval
10. Discovery Labs Receives $30 Million Funding Commitment from Deerfield Management
11. Venaxis Executes First Commercial Development Agreement and Receives Purchase Order from EMELCA Bioscience for Initial EU Launch
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... -- Global demand for enzymes is forecast to grow ... billion.  This market includes enzymes used in industrial ... animal feed, and other markets) and specialty applications ... beverages will remain the largest market for enzymes, ... containing enzymes in developing regions.  These and other ...
(Date:6/27/2016)... (PRWEB) , ... June 27, 2016 , ... ... published their findings on what they believe could be a new and helpful ... the new research. Click here to read it now. , Biomarkers ...
(Date:6/27/2016)... Chapel Hill, N.C. (PRWEB) , ... June 27, ... ... of U.S. commercial operations for Amgen, will join the faculty of the ... will serve as adjunct professor of strategy and entrepreneurship at UNC Kenan-Flagler, with ...
(Date:6/24/2016)... TOKYO , June 24, 2016  Regular discussions on ... to take place between the two entities said Poloz. ... in Ottawa , he pointed to the ... and the federal government. ... Poloz said, "Both institutions have common economic goals, why not ...
Breaking Biology Technology:
(Date:5/12/2016)... WearablesResearch.com , a brand of Troubadour ... from the Q1 wave of its quarterly wearables survey. ... receptivity to a program where they would receive discounts ... company. "We were surprised to see that ... LaColla , CEO of Troubadour Research, "primarily because there ...
(Date:4/26/2016)... LONDON , April 26, 2016 /PRNewswire/ ... Systems, a product subsidiary of Infosys (NYSE: ... partnership to integrate the Onegini mobile security platform ... http://photos.prnewswire.com/prnh/20151104/283829LOGO ) The integration ... security to access and transact across channels. Using ...
(Date:4/14/2016)... Israel , April 14, 2016 ... Authentication and Malware Detection, today announced the appointment of ... assumed the new role. Goldwerger,s leadership appointment ... on the heels of the deployment of its platform ... BioCatch,s behavioral biometric technology, which discerns unique cognitive and ...
Breaking Biology News(10 mins):