Annuncio • Aug 15
Ocean Biomedical, Inc. announced delayed 10-Q filing On 08/14/2025, Ocean Biomedical, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Aug 06
Ocean Biomedical Provides Update on the Decision of the Nasdaq Listing and Hearing Review Council On July 31, 2025, Ocean Biomedical, Inc. was notified by Nasdaq that The Nasdaq Stock Market LLC Board of Directors has declined to call for review the May 15, 2025 decision of the Nasdaq Listing and Hearing Review Council in the Company’s appeal proceeding. Accordingly, pursuant to Nasdaq Rule 5820(e)(6), the decision of the Listing Council represents Nasdaq’s final action in this matter. Nasdaq will follow the procedures contained in Nasdaq Rule 5830 and the Securities and Exchange Commission (“SEC”) Rule 12d2-2 to remove the Company’s securities from listing. Annuncio • Jul 26
Ocean Biomedical Receives the Decision of the Nasdaq Listing and Hearing Review Council On July 17, 2025, Ocean Biomedical, Inc. received the decision of the Nasdaq Listing and Hearing Review Council pursuant to an appeal by the Company. On April 22, 2025, the Nasdaq Hearings Panel (the “Panel”) issued a decision to delist the Company’s securities from The Nasdaq Stock Market, LLC (the “Exchange” or “Nasdaq”) and suspend trading of the Company’s shares, effective at the opening of business on April 24, 2025. The Company appealed the Panel’s decision to the Listing Council. After considering the written record in this matter, the Listing Council affirms the Panel’s decision to delist the Company from the Nasdaq affirming Nasdaq’s delist decision letter dated April 22, 2025. Annuncio • Apr 02
Ocean Biomedical, Inc. announced delayed annual 10-K filing On 04/01/2025, Ocean Biomedical, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Annuncio • Mar 29
Ocean Biomedical, Inc. Announces Grant on Patent Right for Bispecific Antibodies Targeting CHI3L1 and PD1 for Enhanced Tumor Cell Cytotoxicity in China Ocean Biomedical, Inc. announced that the China National Intellectual Property Administration (CNIPA) has granted a notice of grant on patent right for its bispecific antibodies targeting CHI3L1 and PD1, designed to enhance T cell-mediated cytotoxic effects on tumor cells. This newly issued patent will strengthen Ocean Biomedical's intellectual property portfolio and provides protection in one of the world's largest pharmaceutical markets. The granted claims cover the novel design and therapeutic applications of bispecific antibodies that simultaneously inhibit CHI3L1 andPD1, key targets implicated in immune evasion by tumor cells. Ocean Biomedical's bispecific antibody technology represents a potential paradigm shift in cancer immunotherapy. By simultaneously targeting CHI3L1--a key regulator of immune suppression--and PD1, a well-established immune checkpoint, this novel approach has the potential to reinvigorate the immune system's ability to combat tumors more effectively than existing treatments alone. By blocking both pathways, these antibodies could enhance immune-mediated tumor cell destruction, leading to more durable responses and better outcomes for patients. Current immunotherapies are often limited by tumor resistance and immune evasion mechanisms. Ocean Biomedical's technology seeks to address these limitations by taking a multi-pronged approach, blocking two key pathways that tumors use to suppress the immune response. This could result in more robust and sustained tumor control, significantly improving survival rates for patients who currently have limited treatment options. The grant of this patent follows Ocean Biomedical's continued success in securing intellectual property protection across key markets, including the United States and Europe. The company remains committed to leveraging its robust patent estate to drive the development and commercialization of novel immunotherapies. Ocean Biomedical plans to continue collaborating with leading researchers, biopharma partners, and regulatory agencies to strive to accelerate the translation of its discoveries into transformative therapies. Annuncio • Feb 17
Ocean Biomedical, Inc., Annual General Meeting, Mar 28, 2025 Ocean Biomedical, Inc., Annual General Meeting, Mar 28, 2025. Location: 2511 redwood road, suite 16, utah 84087., woods cross, United States Annuncio • Feb 11
Ocean Biomedical Announces Breakthrough Findings in EGFR-Mutant Lung Cancer and Plans for FDA Alignment on Next-Stage Development Ocean Biomedical announced newly published research findings demonstrating the ability of its proprietary cancer immunotherapy candidates to favorably interact with tyrosine kinase inhibitors (TKI), such as osimertinib that are used to treat non-small cell lung cancer (NSCLC). Specifically, they demonstrate that Ocean’s immunotherapy candidates provide synergy with the TKI therapies (gefitinib and osimertinib) to suppress tumor growth and progression. In addition, the paper’s findings demonstrate that its proprietary cancer immunotherapy candidates have a remarkable ability to restore treatment sensitivity following development of osimertinib resistance. This breakthrough offers a potential paradigm shift in the treatment of Epidermal Growth Factor Receptor (EGFR)-mutant NSCLC and could expand treatment options for patients whose tumors are no longer responding to tyrosine kinase inhibitors. These findings, led by Ocean Biomedical’s Scientific Co-founder Dr. Jack A. Elias in collaboration with researchers at Yale University and Brown University, were published in Translational Oncology and mark the first description of the role of chitinase 3-like-1 (CHi3L1) in EGFR-mutant cancers. The research underscores the ability of Ocean Biomedical’s novel antibody to suppress CHi3L1 activity, leading to significant tumor reduction and, crucially, the reversal of drug resistance in preclinical models. As part of its continued commitment to developing next-generation cancer therapeutics, Ocean Biomedical is initiating preclinical studies to advance its immunotherapy program and will engage with the FDA this year to align on a regulatory pathway for first-in-human trials. Ocean Biomedical’s advancements come at a time when the oncology field is shifting its focus towards bispecific antibodies, an innovative therapeutic class designed to target multiple cancer mechanisms simultaneously. Bispecific antibodies that target PD-1/PD-L1 and VEGF have shown remarkable efficacy in recent clinical studies, with leading biotech and pharmaceutical companies rapidly investing in this space. Merck’s recent $588 million acquisition of LaNova’s LM-299, a PD-1/VEGF bispecific antibody currently in early-stage clinical trials, underscores the high-value potential of this technology. Industry experts suggest that this wave of investments mirrors the early days of checkpoint inhibitors, highlighting the significant opportunity for Ocean Biomedical to position itself at the forefront of the next major oncology breakthrough. Ocean has also developed bispecific antibodies that combine its anti-CHI3L1 antibody and anti-PD-1 or anti-CTLA4. Studies with these bispecific antibodies have highlighted their impressive efficacy in suppressing tumor growth and progression in preclinical models of NSCLC, malignant melanoma and glioblastoma. The company’s lead oncology program is poised for multiple therapeutic applications: As a standalone therapy for EGFR-mutant NSCLC,
In combination with existing TKIs to extend therapeutic response duration, As a salvage therapy to restore treatment efficacy in resistant tumors. With plans to initiate preclinical studies this year, Ocean Biomedical is actively preparing for discussions with the FDA to determine the regulatory pathway for clinical development. This milestone marks a significant step toward bringing its innovative cancer therapy to patients in need. Annuncio • Jan 30
Ocean Biomedical Advances Malaria Vaccine Research with New NIH Funding and Expedited Development Pathway Ocean Biomedical announced that its Scientific Co-founder, Dr. Jonathan Kurtis, MD, PhD, and his research team have received additional significant funding from the National Institutes of Health (NIH) to advance their malaria vaccine research. In parallel, recent U.S. Food and Drug Administration (FDA) Guidance on lipid-encapsulated vaccines may offer an expedited development pathway for their innovative approach. Malaria remains a devastating global health challenge, claiming the lives of over 500,000 children annually in sub-Saharan Africa. Despite hundreds of vaccine development efforts, few have succeeded, largely due to ineffective target selection strategies. Through longitudinal studies of children frequently exposed to infected mosquitoes, the researchers identified a unique protein--glutamic acid-rich protein (GARP)--on the surface of malaria-infected red blood cells. Notably, children who naturally resist severe malaria were found to have developed antibodies against GARP. This discovery, supported by multiple NIH and non-governmental grants, has paved the way for vaccine development. With the support of a $4.6 million non-governmental Foundation grant, Dr. Kurtis' team is now testing three vaccine candidates in non-human primates. The research also explores the feasibility of using lipid-encapsulated messenger ronucleic acid (mRNA) technology as a delivery mechanism. Building on clinical data from millions of individuals who received lipid-encapsulated mRNA vaccines, the FDA has issued new guidance that could facilitate a faster transition to first-in-human trials. Ocean Biomedical intends to leverage this opportunity, with a potential to initiate human trials as early as fourth quarter 2025. Annuncio • Jan 15
Ocean Biomedical, Inc. Receives Non-Compliance Notice from Nasdaq Regarding Listing Rules 5620(a) and 5810(c)(2)(G) On January 7, 2025, Ocean Biomedical, Inc. received a notice from Nasdaq that since the Company had not yet held an annual meeting of shareholders within twelve months of the Company's fiscal year ended December 31, 2023, it no longer complies with the Listing Rules (the Rules") for continued listing.(Listing Rules 5620(a) and 5810(c)(2)(G)). Accordingly, this matter serves as an additional basis for delisting the Company's securities from The Nasdaq Stock Market. This is formal notification that the Nasdaq Hearings Panel (the Panel") will consider this matter in their decision regarding the Company's continued listing on The Nasdaq Capital Market. In that regard, the Company should present its views with respect to this additional deficiency to the Panel in writing no later than January 14, 2025. The Company plans on holding its annual meeting no later than March 31, 2025. Annuncio • Dec 12
Ocean Biomedical Receives Non-Compliance Letter Regarding Nasdaq MVLS On December 5, 2024, Nasdaq sent a letter to Ocean Biomedical, Inc. notifying it that based upon the Company's MVLS for the last 30 consecutive business days, the Company no longer meets this requirement. Consequently, a deficiency exists with regard to the Rule. However, the Rules also provide the Company a compliance period of 180 calendar days in which to regain compliance. If at anytime during this compliance period the Company's MVLS closes at $35 million or more for a minimum of ten consecutive business days, Nasdaq will provide written confirmation of compliance and this matter will be closed. In the event the Company does not regain compliance with the Rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting and it may be eligible for additional time to regain compliance, or may face delisting. Annuncio • Dec 10
Ocean Biomedical Receives Non-Compliance Letter from Nasdaq Regarding Minimum Bid Price On December 3, 2024, Ocean Biomedical, Inc. (the Company") received a letter from Nasdaq that it no longer complies with Rule 5550(a)(2) of Nasdaq's Listing Rules (the Rules") which require listed securities to maintain a minimum bid price of $1 per share. Based upon the closing bid price for the last 30 consecutive business days (October 21, 2024 to December 2, 2024), the Company no longer meets this requirement. However, the Rules also provide the Company a compliance period of 180 calendar days (until June 2, 2025) in which to regain compliance. Pursuant to Rule 5810(c)(3)(C) if at any time during this 180 day period the closing bid price of the Company's security is at least $1 for a minimum of ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and this matter will be closed. In the event the Company does not regain compliance by June 2, 2025, the Company may be eligible for additional time to regain compliance, or may face delisting. Annuncio • Nov 23
Ocean Biomedical Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q Ocean Biomedical, Inc. announced that on November 18, 2024, it received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) stating that because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended September 30, 2024 (the “Form 10-Q”), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission. Ocean Biomedical is delayed in filing the Form 10-Q as a result of previously disclosed developments with respect to filing of its 10-K for the year ended December 31, 2023. The current notice will have no immediate effect on the listing or trading of Ocean Biomedical’s common stock on Nasdaq, although there can be no assurances that further delays in the filing of the Form 10-Q will not have an impact on the listing or trading of the company’s common stock. On October 16, 2024, Staff notified the Company that since it failed to timely file its Form 10-K for the year ended December 31, 2023, and its Forms 10-Q for the periods ended March 31, 2024 and June 30, 2024, the Company’s securities were subject to delisting. The Company is now delinquent in the filing its form 10-Q for the period ended September 30, 2024. Accordingly, this matter serves as an additional basis for delisting the Company’s securities from The Nasdaq Stock Market. This is formal notification that the Nasdaq Hearings Panel (the “Panel”) will consider this matter in their decision regarding the Company’s continued listing on The Nasdaq Capital Market, which hearing is scheduled for December 16, 2024. The Company intends to file the delinquent Forms 10-Q and 10-K as soon as practicable. New Risk • Nov 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-US$75m). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (€28.0m market cap, or US$30.4m). Annuncio • Oct 23
Ocean Biomedical Receives Non-Compliance Letter from Nasdaq Ocean Biomedical, Inc. announced that on October 16, 2024, it received a Staff Determination Letter from The Nasdaq Stock Market LLC stating that on April 18, 2024, May 22, 2024, and August 19, 2024, Staff notified the Company that it did not comply with Nasdaq's filing requirements set in Listing Rule 5250(c)(1) (the "Rule") because it had not filed its Form 10-K for the year ended December 31, 2024, and its Forms 10-Q for the periods ended March 31, 2024 and June 30, 2024 (the "Forms 10-Q"), respectively. Based on its review and the materials submitted on June 17, 2024 and August 27, 2024, Staff granted the Company an exception until October 14, 2024, to regain compliance with the Rule. Upon further review, Staff determined that the Company did not meet the terms of the exception. Specifically, the Company has not filed the either its Form 10-K or Forms 10-Q as required by the Rule. The Company will appeal Staff's determination to a Hearings Panel, pursuant to the procedures set in the Nasdaq Listing Rule 5800 Series. Annuncio • Oct 01
Ocean Biomedical, Inc. Announces Publication of New Data Deepening Understanding of Novel Cancer Immunotherapy Treatment Approach Targeting CHI3L1 and Its Ability to Inhibit Anti-Tumor and Related Tissue Remodeling Responses Ocean Biomedical, Inc. announced that Scientific Co-founder Dr. Jack A. Elias, MD, PhD, and colleagues have published new research in the Journal of Immunology that expands understanding of how CHI3L1 inhibits the body's natural immune responses to lung cancers and related diseases such as chronic obstructive pulmonary disease (COPD). This research demonstrates for the first time the complex ways that CHI3L1 inhibits macrophage phagocytosis by stimulating two key phagocytosis checkpoint pathways. The paper notes, " This inhibition of innate immune responses such as phagocytosis provides a mechanistic explanation for the ability of CHI3L1 to stimulate immune checkpoint inhibitors (ICPs) and inhibit essential adaptive immune responses in cancer and COPD. The ability of CHI3L 1 to simultaneously inhibit innate immune responses, stimulate ICPs, inhibit T cell costimulation, and regulate a number of other oncogenic and inflammation pathways suggests that CHI3L1-targeted therapeutics are promising interventions in cancer, COPD, and other disorders." Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. The announced discoveries were based solely on laboratory and animal studies. Ocean Biomedical has not conducted any studies that show similar efficacy or safety in humans. There can be no assurances that this treatment will prove safe or effective in humans, and that any clinical benefits of this treatment is subject to clinical trials and ultimate approval of its use in patients by the FDA. Such approval, if granted, could be years away. Annuncio • Aug 27
Ocean Biomedical, Inc. Announces Patent Issued for PfGARP Malaria Antibodies Central to Company's Malaria Treatment and Prevention Platforms Ocean Biomedical, Inc. announced that its Scientific Co-founder Dr. Jonathan Kurtis, MD, PhD, has been issued a key U.S. patent for his malaria therapeutic antibody discovery that targets PfGARP. Since publicizing news of his original research on PfGARP and its critical role in the malaria cycle in the Journal NATURE, Dr. Kurtis and his team have been working to deepen their understanding of how it naturally triggers the death of malaria zones, and their control of that mechanism. Their expanded insights have already led to: 1.) a powerful vaccine candidate targeted for long term prevention of malaria infection; 2.) a therapeutic antibody candidate for short term malaria prevention; and 3.) a therapeutic small molecule drug candidate targeted to treat severe malaria, with potential to launch a whole new class of malaria medicines. This patent is adding to Ocean Biomedical's global patent portfolio of over 5 dozen patents for discoveries with potential to impact major unmet medical needs in infectious disease, oncology, and fibrosis, developed through grants totaling over $125 million. Kurtis' novel approach causes parasite death at a key stage in the malarial cycle, triggering programmed cell death through apoptosis. This patent expands protection for Dr. Kurtis’ novel discoveries at a time when the most common strains of malaria are showing signs of growing resistance to current Artemisinin-based drugs. Annuncio • Aug 25
Ocean Biomedical Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q Ocean Biomedical, Inc. announced that on August 19, 2024, it received a notice from The Nasdaq Stock Market LLC (‘Nasdaq’) stating that because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended June 30, 2024 (the ‘Form 10-Q’), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission (the ‘SEC’). Ocean Biomedical is delayed in filing the Form 10-Q as a result of previously disclosed developments with respect to filing of its 10-K for the year ended December 31, 2023. The current notice will have no immediate effect on the listing or trading of Ocean Biomedical’s common stock on Nasdaq, although there can be no assurances that further delays in the filing of the Form 10-Q will not have an impact on the listing or trading of the company’s common stock. Nasdaq indicated that the Company must: (i) no later than September 3, 2024, submit a plan to regain compliance with respect to the filing requirement; and (ii) on or before October 14, 2024, file the delinquent Form10-Q, along with the delinquent Form 10-Q for the quarter ended March 31, 2024 and the delinquent 10-K for the year ended December 31, 2023. The Company intends to file the delinquent Forms 10-Q and 10-K as soon as practicable. Board Change • Aug 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. Founder, Chairman of Scientific Advisory Board & Director Jake Kurtis was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Annuncio • Jul 03
Ocean Biomedical, Inc.(NasdaqCM:OCEA) dropped from Russell 3000 Index Ocean Biomedical, Inc.(NasdaqCM:OCEA) dropped from Russell 3000 Index Annuncio • May 31
Ocean Biomedical, Inc. Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q Ocean Biomedical, Inc. announced that on May 22, 2024, it received a notice from The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the "Form 10-Q"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission (the "SEC"). As previously reported in its SEC filings, Ocean Biomedical is delayed in filing the Form 10-Q as a result of previously disclosed developments with respect to filing of its 10-K for the year ended December 31, 2023. The current notice will have no immediate effect on the listing or trading of Ocean Biomedical's common stock on Nasdaq, although there can be no assurances that further delays in the filing of the Form 10-Q will not have an impact on the listing or trading of the company's common stock. Nasdaq indicated that the Company must: (i) no later than June 14, 2024, submit a plan to regain compliance with respect to the filing requirement; and (ii) on or before October 14, 2024, file the delinquent Form10-Q. The Company intends to file the delinquent Form 10-Q as soon as practicable. Annuncio • May 16
Ocean Biomedical, Inc. announced delayed 10-Q filing On 05/14/2024, Ocean Biomedical, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Apr 25
Ocean Biomedical Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K Ocean Biomedical, Inc. announced that on April 18, 2024, it received a notice from The Nasdaq Stock Market LLC (‘Nasdaq’) stating that because the Company has not yet filed its Annual Report on Form 10-K for the period ended December 31, 2023 (the ‘Form 10-K’), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission (the ‘SEC’). As previously reported in its SEC filings, Ocean Biomedical is delayed in filing the Form 10-K as a result of previously disclosed developments with respect to filing of its amended 10-Qs for the first two quarters of 2023 and filing its 10-Q for the third quarter of 2023. The current notice will have no immediate effect on the listing or trading of Ocean Biomedical’s common stock on Nasdaq, although there can be no assurances that further delays in the filing of the Form 10-K will not have an impact on the listing or trading of the company’s common stock. Nasdaq indicated that the Company must: (i) no later than June 14, 2024, submit a plan to regain compliance with respect to the filing requirement; and (ii) on or before October 14, 2024, file the delinquent Form10-K. The Company intends to file the delinquent Form 10-K as soon as practicable. Annuncio • Apr 02
Ocean Biomedical, Inc. announced delayed annual 10-K filing On 04/01/2024, Ocean Biomedical, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Annuncio • Mar 10
Ocean Biomedical, Inc. Appoints Amy Griffith as Director Ocean Biomedical, Inc. announce that on March 4, 2024, Amy Griffith has been appointed as a director. Ms. Griffith currently serves as Head, Government Relations & External Affairs for McCain Foods - North America. She is responsible for the NA Public Affairs strategy and provides strategic leadership and direction on behalf of McCain with policymakers in the United States and Canada. She leads external communications and stakeholder management. Previously, she was the Group Director for the North America Operating unit of the Coca-Cola Company, in this capacity she oversaw public affairs, government relations, sustainability and communications in Canada and the Northeastern United States. Previously, she served as Wells Fargo’s State & Local Government Relations Senior Vice President. She was recruited to Wells Fargo’s Government Relations and Public Policy team in 2019. In this role, Griffith led Wells Fargo’s legislative and political agenda in her region and managed relationships with state and local policymakers and community stakeholders. From 2008-2019, Ms. Griffith led government relations for sixteen states in the Eastern United States for TIAA for over a decade. Prior to that, she worked in the aerospace, high tech, education, private and public sectors, and has managed multiple high-profile political campaigns at the local, state and national level. Griffith serves as an Independent Director for AgriFORCE Growing Systems where she chairs the governance committee. She is a graduate of Gwynedd-Mercy College and holds a Bachelor of Arts in History. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$7.9m free cash flow). Share price has been highly volatile over the past 3 months (43% average weekly change). Negative equity (-US$8.4m). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Currently unprofitable and not forecast to become profitable next year (US$63m net loss next year). Market cap is less than US$100m (€55.5m market cap, or US$60.0m). Annuncio • Jan 21
Ocean Biomedical Receives Non-Compliance Notice from Nasdaq On January 17, 2024, Ocean Biomedical, Inc. (the “Company”) was notified (the “Notification Letter”) by The Nasdaq Stock Market, LLC (“Nasdaq”) that for the last thirty (30) consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) has been below the minimum requirement of $35 million for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(2). The Notification Letter has no immediate effect on the listing or trading of the Company’s common stock and the common stock will continue to trade on the Nasdaq Capital Market under the symbol “OCEA”. Under Nasdaq Listing Rule 5810(c)(3)(C), Company has 180 calendar days, or until July 15, 2024, to regain compliance with Nasdaq Listing Rule 5550(b)(2). To regain compliance with Nasdaq Listing Rule 5550(b)(2), the Company’s MVLS must close at $35 million or more for a minimum of ten consecutive business days. If the Company does not regain compliance with Rule 5550(b)(2) by July 15, 2024, the Company will receive written notification from Nasdaq that its securities are subject to delisting. In the event of such a notification, the Company may appeal the delisting determination to a Hearings Panel. The Company intends to monitor its MVLS and consider available options to regain compliance with Nasdaq’s continued listing standards. While the Company is exercising diligent efforts to maintain the listing of the Common Stock on the Nasdaq Capital Market, there can be no assurance that the Company will be successful in maintaining its listing of its common stock on the Nasdaq Capital Market. Annuncio • Jan 18
Ocean Biomedical Receives Non-Compliance Notice from Nasdaq On January 11, 2024, Ocean Biomedical, Inc. (the “Company”) was notified (the “Notification Letter”) by The Nasdaq Stock Market, LLC (“Nasdaq”) that it is not in compliance with the minimum bid price requirements set in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company’s common stock between November 28, 2023 and January 10, 2024, the Company no longer meets the minimum bid price requirement. The Notification Letter has no immediate effect on the listing or trading of the Company’s common stock on The Nasdaq Capital Market and, at this time, the common stock will continue to trade on The Nasdaq Capital Market. The Notification Letter provides that the Company has 180 calendar days, or until July 9, 2024, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To regain compliance, the bid price of the Company’s common stock must have a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. If the Company does not regain compliance by July 9, 2024, an additional 180 days may be granted to regain compliance, so long as the Company meets The Nasdaq Capital Market continued listing requirement for market value of publicly-held shares and all other initial listing standards for The Nasdaq Capital Market, other than the minimum closing bid price requirement and notifies Nasdaq in writing of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Company’s common stock, at which point the Company will have an opportunity to appeal the delisting determination to a Hearings Panel. The Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse stock split of its outstanding securities, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. Annuncio • Dec 06
Ocean Biomedical Announces Publication of Breast Cancer Research Uncovering New Tumor Suppression Pathway for its Proprietary Anti-Chi3L1 Antibody Ocean Biomedical, Inc. announced that its Scientific Co-founder, Jack A. Elias, MD, co-authored new findings in the peer-reviewed journal Immunity that detail the mechanisms behind the role of chitinase 3-like-1 (CHI3L1) in the growth of triple negative breast cancer. The discoveries by a team led by Dr. William Muller at McGill University and in collaboration with Dr. Elias demonstrates that CHI3L1 stimulates neutrophil elaboration of NETs which block T cells from contacting and killing the breast cancer tumor. Additionally, the study provides further evidence of the potential impact of Ocean’s anti-Chi3L1 antibody in reversing this process and suppressing breast cancer tumor growth. This paper deepens the understanding of how CHI3L1 inhibits the body’s natural ability to fight breast cancer tumors. It reveals for the first time another complex pathway by which CHI3L1 inhibits the immune response to cancer, this time by inducing neutrophil recruitment and NETosis, which blocks T cell infiltration. The paper also provides yet another preclinical demonstration of the effectiveness of Ocean’s Anti-CHI3L1 antibody in reducing the tumor growth by targeting CHI3L1 and reversing the T cell blockade. This tumor control pathway, the paper asserts, is likely at work in a range of cancers beyond breast cancer, and “targeting CHI3L1 may promote anti-tumor immunity in various tumor types.” Prior research has established that elevated Chi3L1 levels are associated with many cancers, including glioblastoma, and may be targeted therapeutically. Recent studies from Ocean Biomedical have demonstrated that CHI3L1 is a critical regulator of a number of key cancer-causing pathways, highlighting its ability to inhibit tumor cell death (apoptosis), its inhibition of the expression of the tumor suppressors P53, PTEN, retinoblastoma 1, and Keap1 and its stimulation of the B-RAF protooncogene. Most recently Dr. Elias’s research team has discovered that CHI3L1 is a “master regulator” of ICPI, including key elements of the PD-1 and CTLA4 pathways. In accord with the importance of these pathways, Ocean has also generated antibodies: 1.) a monoclonal antibody against CHI3L1, 2.) bispecific antibodies that simultaneously target CHI3L1 and PD-1, and 3.) a new bispecific antibody that simultaneously targets CHI3L1 and CTLA4. Annuncio • Dec 01
Ocean Biomedical Receives a Notice from the Nasdaq Listing Qualifications Department On November 15, 2023, Ocean Biomedical, Inc. filed a Notification of Late Filing on Form 12b-25 with the Securities Exchange Commission, indicating that the filing of its Quarterly Report on Form 10-Q for the period ended September 30, 2023 would be delayed, after determining that it was unable, without unreasonable effort or expense, to file the Form 10-Q by the due date of November 14, 2023. The Company received a notice on November 22, 2023, from the Nasdaq Listing Qualifications Department indicating that the Company remains in non-compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic reports with the SEC. The Notice will have no immediate effect on the listing or trading of the Company’s common stock, although there can be no assurances that further delays in the filing of the Form 10-Q will not have an impact on the listing or trading of the Company’s common stock. Nasdaq indicated that the Company must: (i) no later than January 22, 2024, submit a plan to regain compliance with respect to the filing requirement; and (ii) on or before May 20, 2024, file the delinquent Form 10-Q. The Company intends to file the delinquent Form 10-Q as soon as practicable. Annuncio • Nov 17
Ocean Biomedical, Inc. announced delayed 10-Q filing On 11/15/2023, Ocean Biomedical, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Nov 15
Ocean Biomedical, Inc. Announces Positive Preclinical Oncology Data for Vron 0300, Presented At Sitc 2023 Annual Meeting, and Clinical Updates by 50/50 Joint Venture Partner Virion Therapeutics Ocean Biomedical, Inc. announced that its joint venture partner, Virion Therapeutics, LLC, a clinical-stage biotechnology company developing novel T cell-based immunotherapies, recently presented highly compelling preclinical oncology data. Virion Therapeutics is developing novel immunotherapies that utilize proprietary genetically encoded checkpoint modifiers (CPMs) to enhance and broaden CD8(+) T cells responses. gD BTLA-HVEM Blockade Enhances and Broadens T Cell Activation Preclinical studies using CPMs have shown consistent and extraordinary immune responses and clinical activity in different diseases. In addition to the recently presented oncology data, Virion has recently begun enrolling their Phase 1b clinical trial for persons with chronic hepatitis B virus (HBV): ON-020000 for Chronic Hepatitis B Virus (HBV): VRON-0300 is being developed with the goal of providing a functional cure for a disease that affects over 300 million patients worldwide. It has been designed to help overcome a key cause of chronic HBV, immune exhaustion, by stimulating a patient's own immune response to help control the infection. According to Precedence Research, functional cure for chronic HBV represents an estimated market opportunity of $6.5B+ by 2032. In addition to the recent major clinical and scientific milestones achieved through its Joint Venture partner, Ocean continues to advance immunotherapies for lung, brain, and other cancers by targeting chitinase 3-like-1 expression (CHi3L1) and continues to progress additional development programs in fibrosis and for the treatment, and prevention, ofmalaria. 