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8-K - CURRENT REPORT - MABVAX THERAPEUTICS HOLDINGS, INC. | mbvx8k_june292018.htm |
Exhibit
99.1
MabVax Therapeutics Decides Not to Submit Plan to Regain Compliance
with Nasdaq Listing Standards
San Diego, CA, July 2, 2018 –
MabVax Therapeutics Holdings, Inc.
(Nasdaq: MBVX), a
clinical-stage biotechnology company with a fully human antibody
discovery platform focused on the development of antibody-based
products to address unmet medical needs in the treatment of cancer,
announced today the Company’s board of directors voted
on June 29, 2018 not to submit a plan to the Listing Qualifications
Department of The Nasdaq Stock Market to regain compliance with
Nasdaq Listing Rule 5250c)(1) regarding filing its Form 10-Q with
the Securities and Exchange Commission for the period ended March
31, 2018.
About MabVax:
MabVax
Therapeutics Holdings, Inc. is a clinical-stage biotechnology
company with a fully human antibody discovery platform focused on
the rapid translation into clinical development of products to
address unmet medical needs in the treatment of cancer. Our
antibody MVT-5873, is a fully human IgG1 monoclonal antibody (mAb)
that targets sialyl Lewis A (sLea), an epitope on CA19-9, and is
currently in Phase 1 clinical trials as a therapeutic agent for
patients with pancreatic cancer and other CA19-9 positive tumors.
CA19-9 is expressed in over 90% of pancreatic cancers and in other
diseases including small cell lung and GI cancers. CA19-9 plays an
important role in tumor adhesion and metastasis, and is a marker of
an aggressive cancer phenotype. CA19-9 serum levels are considered
a valuable adjunct in the diagnosis, prognosis and treatment
monitoring of pancreatic cancer. With our collaborators including
Memorial Sloan Kettering Cancer Center, Rockefeller University,
Sarah Cannon Research Institute, Honor Health and Imaging
Endpoints, we have treated more than 56 patients with either our
therapeutic antibody designated as MVT-5873 or our PET imaging
diagnostic product designated as MVT-2163 in Phase 1 clinical
studies, and demonstrated early safety, specificity for the target
and a potential efficacy signal. Patient dosing has commenced for
our lead development program in Phase 1 clinical study of the
Company's radioimmunotherapy product MVT-1075. For additional
information, please visit the Company's website, www.mabvax.com.
Forward Looking Statements:
This press release contains "forward-looking statements" regarding
matters that are not historical facts, including statements
relating to the ability of the Company to timely file its periodic
Exchange Act reports and the ability of the Company to regain and
maintain compliance with Nasdaq continued listing requirements. We
have no assurance that we will ever present a plan acceptable to
the staff of the Nasdaq or that we will be granted any additional
grace period. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Words such
as "could," "plans," "expects," "will," "potential," and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based upon current
expectations of the Company and involve assumptions that may never
materialize or may prove to be incorrect. Actual results and the
timing of events could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the Securities and Exchange Commission, including the factors
described in the section entitled "Risk Factors" in its annual
report on Form 10-K for the fiscal year ended December 31, 2017 and
other filings submitted by the Company to the SEC, copies of which
may be obtained from the SEC's website at www.sec.gov.
The parties do not undertake any obligation to update
forward-looking statements contained in this press
release.
MabVax Investor Contact:
Email: MabVaxIR@mabvax.com
Phone:
833-208-6789
Media Contact:
Russo
Partners LLC
Phone:
212-845-4272
Email: travis.kruse@russopartnersllc.com