The NASDAQ has granted Immune Pharmaceuticals Inc (NASDAQ:IMNP) an additional 180 calendar days, to regain compliance with the Listing Rule 5810(c) (3). Under the rule, companies are expected to ensure their stock trades above the $1 a share mark, in the market. That has not been the case for the pharmaceutical company, which was handed its first warning at the start of the year.
Should the company fail to comply by, January 3, 2017, it faces a possible delisting from the NASDAQ Capital Market.
Meanwhile, the clinical stage biopharmaceutical company has filed a patent application for the combination of AZIXA and Immune checkpoint inhibitors for the treatment of Cancer. The company on its filing says that the recent pre-clinical experiments have proved beyond doubt that the combination can cause improved tumor response.
Chief executive officer, Dr. Daniel Teper, says that such combination treatments have the potential to augment response to immune checkpoint inhibitors. The executive expects the recent data to open up new potential strategic options, given that Azixa has already demonstrated pre-clinical trial and clinical activity in multiple tumor types.
Expansion of Bertilimumab Phase II Trial
Separately, Immune has confirmed the expansion of its Bertilimumab Phase II clinical trial to include six new clinical sites in the United States. The company has already received IRB approval for the use of the anti-eotaxin monoclonal antibody for the treatment of bullous pemphigoid.
Bertilimumab bills itself as a first class anti-eotaxin able to block eotaxin-1, which is a key driver of the condition. Common in old people, the disease manifests itself with the blistering of the skin. There are currently about 60,000 people in the US and Europe struggling with the condition
Some of the new sites where Immune Pharmaceuticals Inc (NASDAQ:IMNP) will carry out the trials include the, University Hospitals Cleveland Medical Center, Mount Sinai in New York, Duke University, the University of Iowa, the University of Buffalo, and the University of Utah.