BiomX Faces NYSE Delisting Warning

TL;DR

NYSE American says BiomX might get delisted, company has until Feb 2025 to fix it.

AI Summary

BiomX Inc. announced on July 23, 2024, that it received a notice from the NYSE American indicating it is not in compliance with continued listing standards. The company has until August 23, 2024, to submit a plan to regain compliance, with a potential extension until February 23, 2025, if the plan is accepted.

Why It Matters

This filing signals potential delisting from the NYSE American, which could significantly impact the company's stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — The company is at risk of being delisted from a major stock exchange, which poses a significant threat to its market presence and investor accessibility.

Key Numbers

• August 23, 2024 — Initial Compliance Plan Deadline (Company must submit a plan to regain listing standards by this date.)
• February 23, 2025 — Potential Extended Compliance Deadline (If the plan is accepted, the company may have until this date to regain compliance.)

Key Players & Entities

• BiomX Inc. (company) — Registrant
• NYSE American (company) — Stock Exchange
• July 23, 2024 (date) — Date of notice
• August 23, 2024 (date) — Initial compliance deadline
• February 23, 2025 (date) — Potential extended compliance deadline

FAQ

Key Financial Figures

• $0.0001 — onsisting of one share of Common Stock, $0.0001 par value, and one warrant PHGE.U N

Filing Documents

• ea0210175-8k_biomx.htm (8-K) — 42KB
• 0001013762-24-001812.txt ( ) — 256KB
• phge-20240723.xsd (EX-101.SCH) — 4KB
• phge-20240723_def.xml (EX-101.DEF) — 26KB
• phge-20240723_lab.xml (EX-101.LAB) — 36KB
• phge-20240723_pre.xml (EX-101.PRE) — 25KB
• ea0210175-8k_biomx_htm.xml (XML) — 6KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 29, 2024 ( July 23, 2024 ) BiomX Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 001-38762 82-3364020 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 708 Quince Orchard Rd , Suite 205 Gaithersburg , MD 20878 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: ( 844 )- 972-0500 n/a (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Units, each consisting of one share of Common Stock, $0.0001 par value, and one warrant PHGE.U NYSE American Common Stock, $0.0001 par value PHGE NYSE American Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. As previously disclosed, on May 23, 2024, BiomX Inc. (the "Company" or "BiomX") received a deficiency letter from the NYSE American LLC (the "NYSE American") indicating that the Company was not in compliance with the NYSE American continued listing standards set forth in Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide (the "Company Guide"). On July 23, 2024, the Company received a notification (the "Acceptance Letter") from the NYSE American that the Company's previously submitted plan to regain compliance with the NYSE American's listing standards (the "Plan") was accepted. In the Acceptance Letter, the NYSE American granted the Company until November 23, 2025 (the "Plan Period") to regain compliance with the continued listing standards. During the Plan Period, the Company will be subject to periodic review by the NYSE American on its progress with the goals and initiatives outlined in the Plan. The Company intends to take all reasonable measures available to regain compliance with Sections 1003(a)(i), (ii) and (iii) of the Company Guide during the Plan Period. If the Company does not regain compliance with the NYSE American listing standards by November 23, 2025, or if the Company does not make sufficient progress consistent with the Plan during the Plan Period, then NYSE American may initiate delisting proceedings. The Acceptance Letter has no immediate impact on the listing of the Company's shares of common stock, par value $0.0001 per share (the "Common Stock"), which will continue to be listed and traded on the NYSE American during the Plan Period, subject to the Company's compliance with the other listing requirements of the NYSE American. The Common Stock will continue to trade under the symbol "PHGE". The Acceptance Letter does not affect the Company's ongoing business operations or its reporting requirements with the Securities and Exchange Commission. Safe Harbor This Current Report on Form 8-K 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 expectation to regain compliance with NYSE American Continued Listing Standards, it is using forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on BiomX management's curr

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View this 8-K filing on SEC EDGAR