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TapImmune Inc. (OTC: TPIV), the immuno-oncology company that came to Jacksonville a year ago, is moving up in the biotech world, applying for a Nasdaq listing.
The company, which develops peptide and gene-based therapies and vaccines for cancers, is planning to uplist from its over-the-counter listing to the more prestigious Nasdaq Capital Markets.
To do so, it had to meet certain requirements, said CEO Glynn Wilson, such as enough financing for more than a year and positive shareholder equity.
To be listed on the Nasdaq Capital Market, listing requirements include an operating history of 2 years, $5 million in shareholders equity, 1 million publicly held shares and a bid price of $4, according to the Nasdaq initial listing guide. Wilson says the company now has $29 million in shareholder equity and recently raised $9 million in capital.
To be approved for a Nasdaq listing — something the company is still waiting on — would be a big step for TapImmune, putting them more in the biotech spotlight.
“We will get a lot more attention from fundamental investors,” said Wilson. “On the retail side, everyone can buy our stock, so we expect increased volume. And certainly, people who are involved in Nasdaq biotech will look at us much more favorably.”
It comes during a time when TapImmune has four studies in the works, two of which have already started. Of those two, one involves a partnership with Memorial Sloan Kettering in New York and Astra Zeneca for combination therapy.
The other, at the Mayo Clinic, is fully funded by the Department of Defense and is for triple-negative breast cancer, a very aggressive form of cancer.
That study, which takes peptides and injects them into patients that have not had any other form of treatment work, will be a double-blind, 280-patient survey. Wilson said the study will take about 18 months to find all of the patients, and then another three years to complete all the testing. It’s a $13.3 million study.
As the company is on the verge of several new projects that could make breakthroughs in gene-related treatment and immunotherapy, Wilson said the company is already thinking ahead to new, eventual applications for treatment. TapImmune already has tests out for a few types of cancers, including breast cancer, ovarian cancer, lung cancer and colo-rectal cancer. But with peptide treatment, the company just has to train the T-cells to target different cancer cells.
“I think we’re very well positioned in the field on the T-cell vaccine side,” Wilson said. Although TapImmune was based in Seattle, a year ago, Wilson said he chose to move the company to Jacksonville to be closer to the Mayo Clinic and some of the company’s advisers, based in Florida. “We love being in Jacksonville,” he said. “We had a concentration of people ready in Florida. I think the decision to bring the company to Jacksonville will turn out to be a great decision.”
Jensen Werley, Reporter
Jacksonville Business Journal
Article is was originally posted on the Jacksonville Business Journal Web Site.
JACKSONVILLE, Florida, December 7, 2015 /PRNewswire/
TapImmune (TPIV), a clinical-stage onco-immunology company specializing in the development of innovative peptide and gene-based immunotherapeutics and vaccines for the treatment of cancer & metastatic disease, today announced its Chairman and CEO, Dr. Glynn Wilson, will be presenting new data at the 2015 San Antonio Breast Cancer Symposium, which will be held in San Antonio, Texas on December 8 – 12, 2015.
Data will be presented at the poster session, “Treatment: Immunotherapy” on Thursday, December 10, from 7:30 am to 9:00 am. The poster titled, “Robust generation of T-cell immunity to HER2 in HER2+ breast cancer patients with a degenerate subdominant HLA-DR epitope vaccine,” was co-authored by Dr. Wilson, Dr. Knutson, Dr Degnim and other researchers from the Mayo Clinic in Rochester, MN.
The poster presentation will include previously unpublished data from a concluded Phase 1 trial conducted at the Mayo Clinic on a T-cell stimulating vaccine (TPIV 100) for the indication of HER2/neu breast cancer. TapImmune has the Exclusive Option to license this technology from the Mayo Clinic. The percent of patients that responded with augmented T cell immunity to the four peptide antigens contained in the vaccine was high for each peptide ranging from 68-88%, which led to the 90% of the patients augmenting T cells that recognized naturally processed HER2 antigen. ”This presentation will present evidence of a robust and significant immune response using antigens designed to target HER2/neu epitopes known to be important targets in a variety of cancers. These are compelling data that has made us excited about initiating development efforts towards a Phase 2 program with this product” stated Dr. Wilson
About TapImmune Inc.
TapImmune Inc. is an immunotherapy company specializing in the development of innovative technologies for the treatment of cancer, including metastasis, and infectious disease. The Company’s peptide or nucleic acid-based immunotherapeutics, comprise one or multiple naturally processed epitopes (NPEs) designed to comprehensively stimulate a patients’ killer T-cells, helper T-cells and to restore or further augment antigen presentation by using proprietary nucleic acid-based expression systems. The Company’s technologies may be used as stand-alone medications or in combination with current treatment modalities. Please visit the Company’s website athttp://www.tapimmune.com for details.
Forward-Looking Statement Disclaimer
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company’s expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements”. Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company’s most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at http://www.sec.gov . The Company assumes no obligation to update the forward-looking statements.
Glynn Wilson, Ph.D.
Chairman & CEO