BRANFORD, Conn. & NESS ZIONA, Israel--(BUSINESS WIRE)--BiomX Inc. (NYSE American: PHGE) (“BiomX” or the “Company”), a clinical-stage microbiome company advancing novel natural and engineered phage therapies that target specific pathogenic bacteria, announced today that it is voluntarily delisting its shares of common stock from trading on the Tel Aviv Stock Exchange (the “TASE”).
Based upon a review of the recent trading volume of BiomX’s common stock on the TASE and the costs associated with maintaining a presence on more than one stock exchange, BiomX’s management and its Board of Directors have concluded that it would be in the best interests of shareholders to have BiomX’s common stock listed on a single stock exchange.
Under applicable Israeli law, the delisting of BiomX’s shares of common stock from trading on the TASE is expected to become effective in three months, on October 6, 2022. During this time, BiomX’s shares will continue to be traded on the TASE. Following the delisting of BiomX’s shares of common stock on the TASE, BiomX’s shares will continue to be listed on the NYSE American and all BiomX shares now traded on the TASE are expected to be transferred to the NYSE American where they can continue to be traded.
BiomX is a clinical-stage microbiome company developing both natural and engineered phage cocktails designed to target and destroy bacteria in the treatment of chronic diseases. BiomX discovers and validates proprietary bacterial targets and customizes phage compositions against these targets.
Additional information is available at www.biomx.com, the content of which does not form a part of this press release.
This press release contains express or implied “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. For example, when BiomX discusses its expectations regarding the timing and benefits of delisting from TASE and expectation of continued listing on the NYSE American, BiomX is making forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on BiomX management’s current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of BiomX’s control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements and should review the risks and uncertainties described under the caption “Risk Factors” in BiomX’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2022 and additional disclosures BiomX makes in its other filings with the SEC, which are available on the SEC’s website at www.sec.gov. Forward-looking statements are made as of the date of this press release, and, except as provided by law, BiomX expressly disclaims any obligation or undertaking to update forward-looking statements.
Source: BiomX Inc.