Biomx Inc - PHGE STOCK NEWS

BiomX Inc. (NYSE American: PHGE) will present positive Phase 1b/2a clinical trial data for BX004, a novel phage therapy targeting Pseudomonas aeruginosa in cystic fibrosis patients, at the European Respiratory Society Congress 2024. The study demonstrated favorable safety and notable microbiologic and clinical efficacy, even in patients on standard care treatment. Key findings include:

1. Greater reduction in P. aeruginosa colony-forming units in treated subjects vs. placebo
2. 14% of treated subjects had negative P. aeruginosa sputum culture at treatment end
3. Improved lung function in a subgroup of treated patients
4. No treatment-related phage resistance or serious adverse events

BiomX CEO Jonathan Solomon expressed encouragement about the results, highlighting the potential of their novel approach in treating cystic fibrosis.

BiomX Inc. (NYSE American: PHGE) has announced a 1-for-10 reverse stock split of its common stock, effective August 26, 2024. The stock will continue trading under the symbol 'PHGE' with a new CUSIP number. This decision follows stockholder approval on July 9, 2024, and final ratio determination by the Board on August 8, 2024. The split will reduce outstanding shares from approximately 178,958,447 to 17,895,845.

Key points:

• Proportional adjustments will be made to equity awards, warrants, convertible preferred stock, and stock incentive plans
• Outstanding units will also undergo a 1-for-10 reverse split, trading under 'PHGE U'
• No fractional shares will be issued; stockholders entitled to fractional shares will receive an additional fraction to round up
• The split won't alter stockholders' percentage ownership, except for minor fractional share adjustments

BiomX Inc. (NYSE American: PHGE) has announced a 1-for-10 reverse stock split of its common stock, effective August 26, 2024. The stock will continue trading under the symbol 'PHGE' with a new CUSIP number. This decision, approved by stockholders on July 9, 2024, will reduce outstanding shares from approximately 178,958,447 to 17,895,845. The reverse split will not alter stockholders' ownership percentages, and fractional shares will be rounded up. No action is required for holders of book-entry or brokerage account shares. The company's units will be proportionally adjusted, maintaining one share and one warrant exercisable for half a share per unit.

BiomX Inc. (NYSE American: PHGE) reported Q2 2024 financial results and provided business updates. Key highlights include:

1. Anticipated readout of topline results for BX211 in Q1 2025 for diabetic foot osteomyelitis treatment.

2. Planned initiation of BX004 Phase 2b trial for cystic fibrosis, with results expected in Q3 2025.

3. Stockholder approval for conversion of Series X Preferred Stock to common stock.

4. Cash balance of $32.7 million as of June 30, 2024, sufficient to fund operations through Q4 2025.

5. Net income of $4.5 million for Q2 2024, compared to a net loss of $6.4 million in Q2 2023.

6. R&D expenses increased to $6.9 million in Q2 2024 from $3.8 million in Q2 2023.

BiomX Inc. (NYSE American: PHGE), a clinical-stage company developing novel natural and engineered phage therapies targeting specific pathogenic bacteria, has announced a conference call and live audio webcast scheduled for August 15, 2024, at 8:00 a.m. ET. The purpose of this event is to report the company's second quarter 2024 financial results and provide updates on its business and programs.

Interested parties can participate in the conference call by dialing 1-877-407-0724 (U.S.) or 1-201-389-0898 (International). Additionally, a live and archived webcast will be available in the Investors section of the BiomX website at www.biomx.com.

BiomX Inc. (NYSE American: PHGE) has received acceptance from the NYSE American for its plan to regain listing compliance. The company, which develops phage therapies targeting specific pathogenic bacteria, was granted until November 23, 2025 to meet the continued listing standards. This follows a deficiency letter received on May 23, 2024, indicating non-compliance with Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide.

CEO Jonathan Solomon expressed satisfaction with the acceptance and stated that BiomX has already begun implementing its plan, including obtaining stockholder approval for converting outstanding Series X Convertible Preferred Stock to Common Stock. During the compliance period, BiomX will undergo periodic reviews by the NYSE American. Failure to regain compliance or make sufficient progress may result in delisting proceedings.

BiomX announced stockholder approval to convert its Series X Non-Voting Convertible Preferred Stock into common stock. The Series X Preferred Stock was issued during BiomX's acquisition of Adaptive Phage Therapeutics in March 2024 and a $50 million financing. The conversion will see up to 256,887,000 shares of common stock added to the outstanding share count. This move aims to help BiomX comply with NYSE American's listing requirement for $2 million in stockholders' equity, a condition they had previously failed to meet. The reclassification of proceeds from the Financing as stockholders' equity could help achieve compliance. BiomX's CEO highlighted the acquisition and financing milestones as important for BiomX's future growth, particularly with two Phase 2 clinical candidates expected to report significant results next year.

BiomX received a notice of non-compliance from NYSE American on May 23, 2024, due to failing to meet stockholders' equity requirements. The company has a capital deficiency of $9.54 million and reported losses for the past five fiscal years. The notice does not immediately affect the trading of BiomX shares, which will continue under the symbol 'PHGE' with a '.BC' designation for below compliance. BiomX must submit a compliance plan by June 22, 2024, and gain compliance by November 23, 2025, to avoid delisting. The company expects to resolve the equity issue by converting preferred stock to common stock, pending shareholder approval in July 2024.

BiomX (NYSE American: PHGE), a clinical-stage firm developing phage therapies, will present data from its Phase 1b/2a trial of BX004 for cystic fibrosis patients with chronic Pseudomonas aeruginosa infections. These findings will be shared at the 47th European Cystic Fibrosis Conference (June 5-8, 2024, Glasgow) and ASM Microbe 2024 (June 13-17, 2024, Atlanta). Key presentations include an oral session and ePoster at the European conference, and a Rapid Fire session and poster at ASM Microbe. The presentations will be accessible on BiomX's website on June 6 and June 17, respectively.