Biodexa Pharmaceuticals regains Nasdaq compliance with innovative product development

From GlobeNewswire: 2024-11-12 08:48:00

Biodexa Pharmaceuticals PLC has regained compliance for continued listing on Nasdaq, meeting the $1.00 minimum bid price requirement as set forth in Nasdaq Listing Rule 5550(a)(2). The company received notice of non-compliance on August 27, 2024, but was granted an exception to demonstrate compliance through October 31, 2024. Biodexa remains subject to a discretionary panel monitor until February 24, 2025. The company is developing innovative products for diseases with unmet medical needs, including eRapa for Familial Adenomatous Polyposis and Non-Muscle Invasive Bladder Cancer, tolimidone for type 1 diabetes, and MTX110 for rare/orphan brain cancer indications.

eRapa is a rapamycin tablet formulation that inhibits mTOR, demonstrating a significant role in cellular metabolism and tumorigenesis. Tolimidone is an inhibitor of Lyn kinase, showing potential for insulin sensitization in diabetes models. MTX110 is a solubilized HDAC inhibitor formulation for brain cancer, delivered directly to the tumor site. Biodexa is supported by drug delivery technologies and located in Cardiff, UK. Forward-looking statements caution of risks and uncertainties that may affect future results.



Read more at GlobeNewswire: Biodexa Pharmaceuticals PLC (“Biodexa” or the “Company”)