Navigation Links
iBio, Inc. Submits Plan to Satisfy NYSE Amex Continued Listing Standards
Date:11/30/2011

NEWARK, Del., Nov. 30, 2011 /PRNewswire/ -- iBio, Inc. (NYSE AMEX: IBIO) today announced that it has submitted its plan (the "Plan") to satisfy the requirements for continued listing on the NYSE Amex LLC (the "Exchange") to the Exchange's Corporate Compliance Department management (the "Staff") for their review, and that the Company is currently awaiting a response from the Staff in connection therewith.  As previously announced, the Staff indicated that its review of the Company's Form 10-K for the year ended June 30, 2011, indicated that the Company is not in compliance with Section 1003(a)(iv), as more particularly described in the Company's November 7 press release.

Questions received by the Company following its November 7th press release reflected lack of public understanding of the process followed by the Exchange.  Consequently, iBio wishes to provide a brief description of the process the Exchange follows after submission of a Plan.

The Staff will evaluate the Plan, including any supporting documentation, and make a determination as to whether the Company has made a reasonable demonstration of its ability to regain compliance with the continued listing standards within the specified time frame.  If the Staff concludes that the Company has made the necessary demonstration, the Plan will be accepted and the Company will be able to continue its listing during the Plan period.  The Company will be subject to periodic reviews during the Plan period to determine whether it is making progress consistent with the Plan. If the Staff determines that the Company is not making the necessary progress, consistent with the Plan, it may terminate the Plan period and initiate delisting proceedings.

If the Plan is not accepted, or if the Company fails to demonstrate compliance with the applicable listing requirements by the end of the Plan period, the Staff will initiate delisting proceedings. However, the Company may appeal a Staff determination to initiate delisting proceedings to an independent Listing Qualifications Panel of the Exchange Committee on Securities (the "Panel") in accordance with the Exchange's Company Guide. The filing of an appeal would stay any delisting action at least until the Panel renders its decision following a hearing. It generally takes approximately 45 days to hold such a hearing.

About iBio, Inc.

iBio develops and offers product applications of its iBioLaunch™ platform, 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. The technology has been applied successfully to proteins difficult or impossible to produce with other methods, as well as proteins representative most important classes of biologic pharmaceuticals. Advantages of the iBioLaunch platform over other systems include enablement of rapid development and validation of modular, scalable, and optionally robotic, multi-product manufacturing facilities; production time measured in weeks instead of months or more; product entry that is unconstrained by traditional process patents; and significantly lower capital and operating costs for comparable production. Further information is available at: www.ibioinc.com.

Forward-Looking Statements

Statements included in this news release related to iBio, Inc. may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the Company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the company's Reports filed with the Securities and Exchange Commission.

Contacts:


Corporate
Robert Erwin, President 
iBio, Inc. 
302-355-2335
rerwin@ibioinc.com

Investor:
Douglas Beck, CFO
iBio, Inc.
302-355-0923
ir@ibioinc.com


'/>"/>
SOURCE iBio, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. iBio, Inc. Receives Notice from NYSE Amex Staff that Company Currently is Below Certain Continued Listing Standards
2. Roche Submits Acute Hepatitis B Test to FDA for Premarket Approval
3. Amgen Submits Application to Expand Indication for XGEVA® (Denosumab) to Prevent or Delay Spread of Prostate Cancer to the Bone
4. MAP Pharmaceuticals Submits New Drug Application to FDA for LEVADEX® Orally Inhaled Migraine Drug
5. Dendreon Submits Post-Approval Supplement to the PROVENGE Biologics License Application for New Jersey Manufacturing Facility
6. Advanced Life Sciences Submits Full Proposal to NIAID for Development of Intravenous Formulation of Restanza as a Biodefense Countermeasure
7. 3SBio Inc. Submits Application for NuPIAO Phase I Clinical Trial
8. PharmAthene Submits White Paper to BARDA for Advanced Development Funding for SparVax(TM) - Novel Recombinant Protective Antigen Anthrax Vaccine
9. Osteotech Submits 510(k) Application to FDA for Clearance of its Duratech(TM) BioRegeneration Matrix
10. Shire Submits European Marketing Authorization Application (MAA) for velaglucerase alfa for the Treatment of Type 1 Gaucher Disease
11. Collaboration of Indianas Health Information Exchanges, State Organizations Submits Application for Health Information Technology Stimulus Funding
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... CA (PRWEB) , ... February 08, 2016 , ... ... and multilingual testing services, announced today the launch of its revamped and improved ... of scalable language service solutions, the redesigned website will better communicate how the ...
(Date:2/9/2016)... NJ (PRWEB) , ... February 09, 2016 , ... ... Dorman, former Vice President for Public Policy for the National Organization for Rare ... patient advocacy groups to ensure their voices are heard throughout the drug regulatory ...
(Date:2/9/2016)... 2016 BERG, a biopharmaceutical company uncovering ... has announced the appointment of Jason Haddock ... Officer. Haddock brings to BERG over 20 years ... in senior financial functions at pharmaceutical companies, as ... management. Niven R. Narain , ...
(Date:2/8/2016)... 8, 2016 --> ... an innovation-driven oncology company developing next generation cancer ... today announced that chairman emeritus of Tata Sons ... the company as part of the first close ... investors Navam Capital and Aarin Capital. ...
Breaking Biology Technology:
(Date:2/4/2016)... -- The field of Human Microbiome research and ... hubs of the biotechnology industry. While the Human ... human microbiota, have garnered a lot of attention ... has literally exploded in terms of both basic ... on biomedical aspects of research, development, and commercial ...
(Date:2/2/2016)... , Feb. 2, 2016  BioMEMS ... are primarily focused on medical screening and ... point-of-care parameters. Wearable devices that facilitate and ... freedom of movement are being bolstered through ... human biomedical signal acquisition coupled with wireless ...
(Date:2/2/2016)... , Feb. 2, 2016  Based on ... Frost & Sullivan recognizes US-based Intelligent Retinal Imaging ... & Sullivan Award for New Product Innovation. IRIS, ... North America , is poised ... rapidly growing diabetic retinopathy market. The IRIS technology ...
Breaking Biology News(10 mins):