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Aridis Pharmaceuticals Receives Nasdaq Notice on Late Filing of its Form 10-Q

By Aridis Pharmaceuticals, Inc. - May 25, 2023, 04:09 PM ET
Last Updated - Aug 12, 2024, 02:21 AM EDT
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Aridis Pharmaceuticals, Inc. discovers and develops anti-infectives to be used as add-on treatments to standard-of-care antibiotics. The Company is advancing multiple clinical stage mAbs targeting bacteria that cause life-threatening infections such as ventilator associated pneumonia (VAP) and hospital acquired pneumonia (HAP), in addition to preclinical stage antiviral mAbs

Aridis Pharmaceuticals, Inc. (Nasdaq: ARDS) (“Aridis” or the “Company”), a biopharmaceutical company, announced today that it received a notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on May 23, 2023 indicating that the Company is not currently in compliance with Nasdaq’s Listing Rules (the “Listing Rules”) due to the Company’s inability to timely file its Form 10-Q for the three months ended March 31, 2023 (the “Form 10-Q”) with the Securities and Exchange Commission (“SEC”)

LOS GATOS, Calif., May 25, 2023 (GLOBE NEWSWIRE) -- Aridis Pharmaceuticals, Inc. (Nasdaq: ARDS) (“Aridis” or the “Company”), a biopharmaceutical company, announced today that it received a notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on May 23, 2023 indicating that the Company is not currently in compliance with Nasdaq’s Listing Rules (the “Listing Rules”) due to the Company’s inability to timely file its Form 10-Q for the three months ended March 31, 2023 (the “Form 10-Q”) with the Securities and Exchange Commission (“SEC”). The Notice has no immediate effect on the listing or trading of the Company’s securities. Pursuant to Listing Rule 5250(c)(1), the Company was required to file the Form 10-Q by May 15, 2023 (the “Due Date”). The Company previously reported its inability to file the Form 10-Q by the Due Date in a Form 12b-25 that the Company filed with the SEC on May 16, 2023.

The Company is working diligently to complete the Form 10-Q. The Company anticipates filing the Form 10-Q as promptly as practicable. The Company filed its Form 10-K for the year ended December 31, 2022 on May 22, 2023.

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About Aridis Pharmaceuticals, Inc.

Aridis Pharmaceuticals, Inc. discovers and develops anti-infectives to be used as add-on treatments to standard-of-care antibiotics. The Company is advancing multiple clinical stage mAbs targeting bacteria that cause life-threatening infections such as ventilator associated pneumonia (VAP) and hospital acquired pneumonia (HAP), in addition to preclinical stage antiviral mAbs. The use of mAbs as anti-infective treatments represents an innovative therapeutic approach that harnesses the human immune system to fight infections and is designed to overcome the deficiencies associated with the current standard of care which is broad spectrum antibiotics. Such deficiencies include, but are not limited to, increasing drug resistance, short duration of efficacy, disruption of the normal flora of the human microbiome and lack of differentiation among current treatments. The mAb portfolio is complemented by a non-antibiotic novel mechanism small molecule anti-infective candidate being developed to treat lung infections in cystic fibrosis patients. The Company’s pipeline is highlighted below:

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