NEW YORK – Achilles Therapeutics said on Tuesday that it received a notice from Nasdaq that the company was not in compliance with the $1.00 minimum bid price requirement for continued listing.
The firm has 180 days, or until Oct. 18, to regain compliance with the minimum bid price requirement, which requires the company's closing bid price per share meets or exceeds $1.00 for at least 10 consecutive business days. Achilles will continue trading on the Nasdaq during this time.
Achilles, based in London, is developing autologous T-cell therapies that target a patient's clonal neoantigens. Its lead candidate, ATL001, is under evaluation in two Phase I/II trials involving patients with metastatic or recurrent melanoma and advanced non-small cell lung cancer. In 2021, early data from these trials showed the therapy had some benefit in both settings.
On Wednesday morning, Achilles' stock was trading on the Nasdaq at around $.83.