NORTH PALM BEACH, FL, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Nascent Biotech, Inc. (OTCQB:NBIO) ("Nascent Biotech", "Nascent", or the "Company"), a clinical-stage biotechnology company developing monoclonal antibodies targeting various cancer types, today announced that it has received a written notification from the OTC Markets Group as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the "Form 10-Q") in a timely fashion. The Notification Letter advised the Company that it was not in compliance with the OTC Market's continued listing requirements under the timely filing criteria.
As a result of this delinquency, the Company's stock is currently not quoted on the OTC Markets' regular platforms and is instead quoted on the OTC Markets' "Expert Market." The Company expects that upon catching up on its filings and returning to compliance with the OTC Market's requirements, its stock will resume normal quotation on the OTC Markets' trading platforms.
The Company is diligently working to file its Form 10-Q as quickly as possible and is collaborating closely with its auditors and legal advisors to ensure accurate and compliant filings.
"We are dedicated to promptly resolving this matter and remain committed to full transparency and timely reporting," said Sean Carrick, CEO of Nascent Biotech. "We appreciate the patience and continued support of our investors as we work diligently towards completing the filing and restoring normal quotation of our stock."
About Nascent Biotech
Nascent Biotech, Inc. (OTCQB:NBIO) is a phase 2 clinical-stage biotech company pioneering the development of human monoclonal antibodies to be used in the treatment of various cancers, helping people worldwide. The Company's lead candidate, Pritumumab (PTB), is a human monoclonal Antibody (Mab) that has progressed to Phase 2 clinical trials for the treatment of Brain Cancer.
For further information please visit our website www.nascentbiotech.com.
Forward Looking Safe Harbor Statement
Statements in this press release about our future expectations constitute 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, Nascent Biotech Inc's ability to target the medical professionals; Nascent Biotech Inc's ability to raise capital; as well as other risks. Additional information about these and other factors may be described in the Nascent Biotech Inc's Form 10Q, filed on August 14, 2024, and future subsequent filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
Investor Relations:
Crescendo Communications
Tel: +1 212-671-1020
Email: NBIO@crescendo-ir.com
