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Biostax Corp Announces Voluntary Delisting from OTC Pink Market and SEC Deregistration
ORLANDO, Fla., Feb. 21, 2025 (GLOBE NEWSWIRE) -- Biostax Corp (OTC Pink: BIOX) ("Biostax" or "the Company"), a biopharmaceutical company focused on developing innovative immune restoration therapies, today announced its Board of Directors has approved and the Company intends to proceed with the voluntary delisting of its common stock from the OTC Pink marketplace. This strategic decision follows strong shareholder support, with 76.4% voting in favor of the delisting through a Joint Written Conse
About this update from Biostax Corp.
[{"type":"image","alt":"Biostax Corp","displaySize":"","headline":null,"caption":"Biostax Corp","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":86,"url":"https://media.zenfs.com/en/globenewswire.com/9c0c9539ca4f6ae512fb5bb931dd9adb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ll4yMaGBIPjmAfeqSE8v_Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEyMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/9c0c9539ca4f6ae512fb5bb931dd9adb","width":300,"height":86}},"lazy":false},{"type":"text","content":"ORLANDO, Fla., Feb. 21, 2025 (GLOBE NEWSWIRE) -- Biostax Corp (OTC Pink: BIOX) ("Biostax" or "the Company"), a biopharmaceutical company focused on developing innovative immune restoration therapies, today announced its Board of Directors has approved and the Company intends to proceed with the voluntary delisting of its common stock from the OTC Pink marketplace. This strategic decision follows strong shareholder support, with 76.4% voting in favor of the delisting through a Joint Written Consent.","length":523,"tagName":"p"},{"type":"text","content":"The Company plans to file a Form 25 with the Securities and Exchange Commission (SEC) on March 15, 2025, initiating the delisting process. The delisting is expected to become effective ten days after the filing. Concurrent with the Form 25, Biostax will file a Form 15 to deregister its common stock under the Securities Exchange Act of 1934.","length":342,"tagName":"p"},{"type":"text","content":""After careful consideration of our strategic options, we have determined that delisting will better position Biostax to execute on our long-term growth strategy," said Noreen Griffin, Chief Executive Officer of Biostax. "We believe our current public market valuation does not adequately reflect our achievements and future potential. Operating as a private company will provide us greater flexibility to focus on advancing our promising drug candidates while reducing the administrative burden and costs associated with maintaining a public listing."","length":572,"tagName":"p"},{"type":"text","content":"The decision aligns with Biostax's commitment to advancing its robust pipeline, including:","length":94,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"JKB-122, which has received FDA authorization to proceed with clinical...