Purple Biotech Regains Compliance with Nasdaq
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Rhea-AI Summary
Purple Biotech (NASDAQ: PPBT) announced it regained compliance with Nasdaq Listing Rule 5550(a)(2) after its American Depositary Shares maintained a minimum closing bid of $1.00 or more for at least 10 consecutive business days, a condition met on March 13, 2026. The company is now compliant with Nasdaq listing standards.
The company is a clinical-stage immunotherapy developer advancing lead candidates IM1240 and IM1305 and maintaining other clinical-stage assets pending partnering or investment.
Positive
- Regained Nasdaq compliance by meeting $1.00 ADS minimum on March 13, 2026
- Listing standards restored for continued Nasdaq Capital Market listing
Negative
- Previously required remediation to meet the Nasdaq minimum bid-price rule
Details
News Market Reaction – PPBT
On Mar 17, the day this news came out, PPBT closed 2.44% below the previous close.
Data tracked by StockTitan Argus for the Mar 17 session.
Key Figures
- Minimum bid price
- $1.00 per ADS
- Nasdaq Listing Rule 5550(a)(2) requirement
- Compliance period
- 10 business days
- Required period maintaining $1.00+ closing bid
- Compliance date
- March 13, 2026
- Date on which 10-day minimum bid condition was achieved
- Cash balance
- $9.5M
- Cash, cash equivalents and deposits as of Dec 31, 2025 (6-K)
- Net loss 2025
- $26.4M
- Full-year 2025 net loss (6-K)
- Impairment charge
- $20.5M
- Non-cash impairment for CM24/NT219 in 2025 (6-K)
- Adjusted operating loss
- $6.7M
- Adjusted operating loss 2025 vs $10.4M in 2024 (6-K)
- R&D expenses 2025
- $3.7M
- Research and development spend 2025 vs $7.6M in 2024 (6-K)
Historical Context
-
Announced CEO Gil Efron stepping down in Aug 2026 with orderly transition.
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Reported Q4/FY25 results, highlighting CAPTN-3 progress and cash runway into 2027.
-
One-for-ten reverse ADS split intended to help regain Nasdaq $1.00 bid compliance.
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IM1240 toxicology study showed expanded therapeutic window and favorable PK profile.
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Positive CAPTN-3 preclinical data across solid tumors presented at ESMO IO 2025.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
minimum bid price requirement regulatory
tumor microenvironment medical
phase 2 study medical
pancreatic ductal adenocarcinoma medical
stat3 inhibitor medical
ceacam1-blocking antibody medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Minimum Bid Price Requirement
REHOVOT, Israel, March 17, 2026 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. (“Purple Biotech” or “the Company”) (NASDAQ/TASE: PPBT), a clinical-stage company developing a next-generation immunotherapy platform designed to maximize anti-cancer potency while minimizing toxicity, today announced that it received confirmation from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the “Listing Qualifications Department”) that the Company had regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (“Nasdaq”), and is now compliant with applicable listing standards for continued Nasdaq listing. To regain compliance with Nasdaq Listing Rule 5550(a)(2), the Company was required to maintain a minimum closing bid price for the American Depositary Shares (the “ADSs”) of
About Purple Biotech
Purple Biotech Ltd. (NASDAQ/TASE: PPBT) is a clinical-stage company developing a next-generation immunotherapy platform designed to maximize anti-cancer potency while minimizing toxicity. The Company is focused on advancing its lead program, CAPTN-3 - a platform of masked tri-specific antibodies that simultaneously target tumors while engaging both T cells and NK cells. Capping technology confines immune activation to the tumor microenvironment, significantly expanding the therapeutic window compared to conventional T-cell engagers. The platform’s lead candidate, IM1240, is advancing toward the clinic, and its second candidate, IM1305, is in preclinical development. The Company’s pipeline also includes additional clinical-stage assets, for which further development is pending partnering or investment, including CM24, a CEACAM1-blocking antibody that demonstrated improved outcomes across all efficacy endpoints in a Phase 2 study for the treatment of pancreatic ductal adenocarcinoma, and NT219, a dual IRS1/2 and STAT3 inhibitor in a Phase 2 study for the treatment of recurrent and/or metastatic squamous cell carcinoma of the head and neck. The Company is headquartered in Rehovot, Israel. For additional information about the Company, please visit: https://purple-biotech.com
Forward-Looking Statements and Safe Harbor Statement
Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements that are not statements of historical fact, and may be identified by words such as “believe”, “expect”, “intend”, “plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”, “project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. You should not place undue reliance on these forward-looking statements, which are not guarantees of future performance. Forward-looking statements reflect our current views, expectations, beliefs or intentions with respect to future events, and are subject to a number of assumptions, involve known and unknown risks, many of which are beyond our control, as well as uncertainties and other factors that may cause our actual results, performance or achievements to be significantly different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause or contribute to such differences include, among others, risks relating to: the plans, strategies and objectives of management for future operations; product development for NT219, CM24, IM1240 and IM1305; the process by which such early stage therapeutic candidates could potentially lead to an approved drug product is long and subject to highly significant risks, particularly with respect to a joint development collaboration; the fact that drug development and commercialization involves a lengthy and expensive process with uncertain outcomes; our ability to successfully develop and commercialize our pharmaceutical products; the expense, length, progress and results of any clinical trials; the impact of any changes in regulation and legislation that could affect the pharmaceutical industry; the difficulty in receiving the regulatory approvals necessary in order to commercialize our products; the difficulty of predicting actions of the U.S. Food and Drug Administration or any other applicable regulator of pharmaceutical products; the regulatory environment and changes in the health policies and regimes in the countries in which we operate; the uncertainty surrounding the actual market reception to our pharmaceutical products once cleared for marketing in a particular market; the introduction of competing products; patents obtained by competitors; dependence on the effectiveness of our patents and other protections for innovative products; our ability to obtain, maintain and defend issued patents; the commencement of any patent interference or infringement action against our patents, and our ability to prevail, obtain a favorable decision or recover damages in any such action; and the exposure to litigation, including patent litigation, and/or regulatory actions, and other factors that are discussed in our Annual Report on Form 20-F for the year ended December 31, 2024, as such factors may be updated from time to time in our other filings with the U.S. Securities and Exchange Commission (“SEC”), including our cautionary discussion of risks and uncertainties under “Risk Factors” in our Registration Statements and Annual Reports. These are factors that we believe could cause our actual results to differ materially from expected results. Other factors besides those we have listed could also adversely affect us. Any forward-looking statement in this press release speaks only as of the date which it is made. We disclaim any intention or obligation to publicly update or revise any forward-looking statement or other information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable law. You are advised, however, to consult any additional disclosures we make in our reports to the SEC, which are available on the SEC’s website, https://www.sec.gov.
CONTACTS:
Company Contact:
IR@purple-biotech.com
FAQ
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