In This Article:
San Antonio, TX, April 21, 2025 (GLOBE NEWSWIRE) -- Scorpius Holdings, Inc (NYSE American: SCPX) (“Scorpius” or “the Company”), an integrated contract development and manufacturing organization (“CDMO”), today reported that it received notice from the NYSE American LLC (“NYSE American” or the “Exchange”) of its determination to commence delisting proceedings of the Company’s common stock from the exchange pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the low-selling price of the Company’s common stock.
In addition, on April 16, the Company received an official notice of noncompliance from NYSE Regulation stating that the Company is not in compliance with NYSE American continued listing standards under the timely filing criteria included in Section 1007 of the NYSE American Company Guide due to the failure to timely file the Company’s Form 10-K for the period ended December 31, 2024 by the filing due date of April 15, 2025. As previously reported in the Company’s Notification of Late Filing on Form 12b-25 filed with the SEC on March 31, 2025, the Company was unable to file its Annual Report on Form 10-K for the year ended December 31, 2024 within the prescribed period because the compilation, dissemination and review of the financial information required to be presented in the Annual Report on Form 10-K imposed time constraints on the Company’s management that rendered timely filing of the Annual Report on Form 10-K impractical without undue hardship and expense to the Company.
The Company plans to appeal the NYSE American’s decision to commence delisting proceedings of the Company’s common stock. Specifically, the Company intends to request a review of the determination by the Exchange’s Listings Qualifications Panel. While there can be no assurance regarding the outcome of the appeal, Scorpius remains committed to continued operational and strategic progress.
Scorpius CEO Jeff Wolf commented, “We are actively working to become a fully compliant company with the U.S. Securities and Exchange Commission, and will provide further updates as they become available. We remain undeterred in our commitment to transparency, regulatory compliance, and maximizing long-term value for shareholders.”
Scorpius Holdings, Inc.
Scorpius Holdings Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit www.scorpiusbiologics.com.