CYAD Stock Price, News & Analysis

Celyad Oncology (CYAD) received a Bid Price Notice from Nasdaq on April 19, 2023, indicating its American Depositary Shares (ADSs) were below the $1.00 minimum closing bid price for 30 consecutive business days. The Company has until October 16, 2023, to regain compliance by maintaining a price of at least $1.00 for ten consecutive days. If compliance is not achieved, the ADSs may be transferred to Nasdaq Capital Market or subjected to delisting. Additionally, on March 31, 2023, Celyad received a Stockholders’ Equity Notice from Nasdaq for not meeting the $10 million stockholders’ equity requirement, reporting approximately $4.6 million as of December 31, 2022. The Company has until May 15, 2023, to submit a compliance plan. Despite these notices, Celyad states that its business operations remain unaffected.

Celyad Oncology (Euronext & Nasdaq: CYAD) received a notice from Nasdaq on March 31, 2023, indicating it failed to meet the required stockholders' equity of $10 million. Celyad reported approximately $4.6 million in equity as of December 31, 2022. The company has until May 15, 2023, to submit a plan to regain compliance. Nasdaq may grant a 180-day extension if the plan is accepted. The letter does not immediately affect the listing or trading of Celyad's American Depositary Shares under the symbol CYAD.

Celyad Oncology (CYAD) announces the appointment of Georges Rawadi as the new CEO, effective March 23, 2023. Rawadi, a seasoned executive with 20+ years in pharma/biotech, has previously held significant roles within Celyad and other biotech firms. He will officially start on April 17, 2023, while Michel Lussier remains as Interim CEO until then. The Board has expressed confidence in Rawadi's leadership abilities and his expertise in CAR-T therapies to drive growth and development. Rawadi emphasizes his commitment to harnessing Celyad's intellectual property to overcome limitations in CAR-T approaches.

Celyad Oncology (CYAD) announced a shift in strategy focused on enhancing CAR-T therapies through its research on NKG2D, B7-H6, and shRNA platforms. The company reported a net loss of €40.9 million for 2022, an increase compared to €26.5 million in 2021, primarily due to a €35.1 million impairment of oncology intangible assets. As of December 31, 2022, Celyad had cash reserves of €12.4 million, projected to fund operations into Q4 2023, but anticipates needing additional financing within the next 12 months. Upcoming milestones include updates on research platforms and the introduction of a new CEO in 2023.

Celyad Oncology (Euronext & Nasdaq: CYAD) announced it will release its full year 2022 financial results on March 23, 2023. A conference call is scheduled for March 24, 2023, at 1 p.m. CET / 8 a.m. ET. Company management will discuss the results and provide updates on recent changes and milestones. Participants can join via various telephone options or access a live webcast. Celyad specializes in developing innovative CAR T-cell therapies. The company emphasizes its strategic model and the potential of its IP, while also highlighting risks including uncertainties about its ability to continue as a going concern and potential patent disputes.