PaxMedica (OTC: PXMD), a biopharmaceutical company focused on advancing treatments for neurological disorders, has filed a formal notice of appeal with the NASDAQ Office of Appeals and Review; the company is appealing to reverse the decision of the NASDAQ Hearings Panel to delist the company from. The company also announced that it has retained Jacob Frenkel, Dickinson Wright, PLLC as its lead counsel in the appeal. According to the announcement, PaxMedica believes the hearings panel did not sufficiently or appropriately consider crucial aspects of the company’s recent achievements and ongoing actions to regain compliance. “We are seeking a reevaluation of NASDAQ’s recent action based on new developments that underscore our ongoing progress and commitment to addressing global health challenges,” said PaxMedica CEO Howard Weisman in the press release. “Notably, following our announcements on the completion of registration lots of PAX-101 in mid-April, the company just submitted a briefing book for an important FDA Type C meeting scheduled for June 27, during which we will present key updates on our plans for NDA submission later this year. We believe this, as well as our financing plans, which we made known to the Hearings Panel, support persuasively our arguments to appeal and restore trading on NASDAQ.”
To view the full press release, visit https://ibn.fm/nRpfn
About PaxMedica Inc.
PaxMedica is a forward-looking, clinical-stage biopharmaceutical firm specializing in cutting-edge, anti-purinergic drug therapies (“APT”) aimed at addressing a range of challenging neurologic disorders. The company’s comprehensive portfolio encompasses a spectrum of conditions, including neurodevelopmental disorders such as autism spectrum disorder (“ASD”) as well as other critical areas within the neurology field. Additionally, the company intends to provide the rest of the world with an additional, reliable source of suramin, the accepted standard of care for Stage 1, Trypanosoma Brucei Rhodesiense. PaxMedica is dedicated to the continuous development and evaluation of its pioneering program, PAX-101, an intravenous suramin formulation that lies at the heart of the company’s efforts, particularly focused on innovative ASD treatment solutions. The company’s ongoing research initiatives not only prioritize the needs of ASD patients but also extend to exploring potential therapeutic applications for related conditions. For more information about the company, visit www.PaxMedica.com.
NOTE TO INVESTORS: The latest news and updates relating to PXMD are available in the company’s newsroom at https://ibn.fm/PXMD
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