Associated tags: ITR, Therapy, Life, Tissue, Type 2 diabetes, AgeX Therapeutics, Ageing, Biotechnology, Pharmaceutical, Health, Stem Cells, Diabetes, Research, Alternative Medicine, Science, NYSE, Regeneration, Security (finance), Exchange, Other Science, Other Health, Seniors, Consumer, Pharmaceutical industry
Locations: ALABAMA, ALAMEDA, CA, US
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Ageing ALAMEDA, Calif., March 22, 2024 (GLOBE NEWSWIRE) -- AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for fourth quarter and the full year ended December 31, 2023 and recent highlights.
Key Points:
- ALAMEDA, Calif., March 22, 2024 (GLOBE NEWSWIRE) -- AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for fourth quarter and the full year ended December 31, 2023 and recent highlights.
- The Series A Preferred Stock and Series B Preferred Stock automatically converted into shares of AgeX common stock on February 1, 2024.
- As of December 31, 2023, AgeX owed Juvenescence Limited $4.5 million in principal and origination fees on account of loans extended to AgeX.
- Operating expenses for the full year 2023 were $10.1 million as compared with $7.0 million in the same period of 2022.
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Security (finance) AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for the quarter and nine months ended September 30, 2023.
Key Points:
- AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for the quarter and nine months ended September 30, 2023.
- On October 31, 2023, AgeX made a final draw of loan funds available under a line of credit from Juvenescence Limited.
- Cash, cash equivalents, and restricted cash totaled $0.4 million as of September 30, 2023.
- These factors raise substantial doubt regarding the ability of AgeX to continue as a going concern.
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Pharmaceutical industry Serina Therapeutics, Inc. (“Serina”), a privately-held, clinical-stage biotechnology company developing a pipeline of therapies for the treatment of Parkinson’s Disease and other neurological diseases, entered into a merger agreement with AgeX Therapeutics, Inc. (NYSE American: AGE) (“AgeX”) on August 29, 2023, under which Serina will merge with a wholly-owned subsidiary of AgeX in an all-stock transaction.
Key Points:
- Serina Therapeutics, Inc. (“Serina”), a privately-held, clinical-stage biotechnology company developing a pipeline of therapies for the treatment of Parkinson’s Disease and other neurological diseases, entered into a merger agreement with AgeX Therapeutics, Inc. (NYSE American: AGE) (“AgeX”) on August 29, 2023, under which Serina will merge with a wholly-owned subsidiary of AgeX in an all-stock transaction.
- View the full release here: https://www.businesswire.com/news/home/20230829713838/en/
“The merger with AgeX positions Serina to advance our CNS pipeline assets and expand our platform partnering opportunities,” said Milton Harris, PhD, Co-Founder and Chair of the Board of Serina.
- “We believe it represents the best path forward for Serina in accessing transformative capital to advance our platform technology.
- Serina has two other pipeline assets that are positioned to enter IND enabling studies, SER-227 (POZ-buprenorphine) for certain post-operative pain indications and SER-228 (POZ-cannabidiol) for refractory epilepsy indications.
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MD AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for the quarter and six months ended June 30, 2023.
Key Points:
- AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for the quarter and six months ended June 30, 2023.
- Cash, cash equivalents, and restricted cash totaled $0.3 million as of June 30, 2023.
- As of June 30, 2023, AgeX owed Juvenescence Limited (“Juvenescence”) $33 million in principal and origination fees on account of loans extended to AgeX.
- Operating expenses: Operating expenses for the three months ended June 30, 2023 were $1.9 million, as compared with $1.6 million for the same period in 2022.
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Security (finance) The cancellation of indebtedness in exchange for the Preferred Stock was conducted pursuant to an Exchange Agreement between AgeX and Juvenescence.
Key Points:
- The cancellation of indebtedness in exchange for the Preferred Stock was conducted pursuant to an Exchange Agreement between AgeX and Juvenescence.
- By completing the exchange of indebtedness for shares of Series A Preferred Stock and Series B Preferred Stock (collectively referred to as the “Preferred Stock”), AgeX now has sufficient stockholders equity to meet the NYSE American continued listing requirements.
- The subscription price per share of Preferred Stock is $100 which was paid through the exchange of indebtedness for shares of Preferred Stock.
- The conversion price per share of Series A Preferred Stock or Series B Preferred Stock is $0.72 which was the closing price of AgeX common stock on the NYSE American on the last trading day immediately preceding the execution of the Exchange Agreement.
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Series The exchange of the indebtedness for shares of Series A Preferred Stock and Series B Preferred Stock (collectively referred to as the “Preferred Stock”) will be implemented for the purpose of bringing AgeX common stock back into compliance with the continued listing requirements of the NYSE American that require AgeX to have at least $6 Million of stockholders equity; however the continued listing remains dependent upon a determination by the NYSE American that AgeX has regained compliance with their listing standards.
Key Points:
- The exchange of the indebtedness for shares of Series A Preferred Stock and Series B Preferred Stock (collectively referred to as the “Preferred Stock”) will be implemented for the purpose of bringing AgeX common stock back into compliance with the continued listing requirements of the NYSE American that require AgeX to have at least $6 Million of stockholders equity; however the continued listing remains dependent upon a determination by the NYSE American that AgeX has regained compliance with their listing standards.
- The consummation of the exchange of indebtedness for Preferred Stock is expected to occur on or around July 25, 2023 subject to (a) the NYSE American approving a supplemental application to list the common stock issuable upon conversion of the Preferred Stock into common stock, and (b) the filing of a Certificate of Designation of the Series A Preferred Stock and a Certificate of Designation of the Series B Preferred Stock with the Secretary of State of Delaware.
- The subscription price per share of Preferred Stock is $100 which was paid through the exchange of indebtedness for shares of Preferred Stock.
- The conversion price per share of Series A Preferred Stock or Series B Preferred Stock is $0.72 which was the closing price of AgeX common stock on the NYSE American on the last trading day immediately preceding the execution of the Exchange Agreement.
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Exchange AgeX Therapeutics , Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, announced today that on May 17, 2023 it received a notice from the staff of the NYSE American (the “Exchange”) indicating that they intend to commence proceedings to delist AgeX common stock from the Exchange based upon AgeX’s non-compliance with the stockholders’ equity requirements set forth in Sections 1003(a)(i), (ii) and (iii) of the Exchange’s Company Guide by the end of a compliance plan period that expired on May 17, 2023.
Key Points:
- AgeX Therapeutics , Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, announced today that on May 17, 2023 it received a notice from the staff of the NYSE American (the “Exchange”) indicating that they intend to commence proceedings to delist AgeX common stock from the Exchange based upon AgeX’s non-compliance with the stockholders’ equity requirements set forth in Sections 1003(a)(i), (ii) and (iii) of the Exchange’s Company Guide by the end of a compliance plan period that expired on May 17, 2023.
- AgeX has the right to appeal this determination to a committee of the Board of Directors of the Exchange (the “Committee”).
- AgeX intends to timely request a hearing before the Committee, and that request will stay any further action by the Exchange at least pending the issuance of a decision by the Committee on the appeal.
- AgeX intends to make arrangements to have its common stock quoted on an electronic interdealer quotation system if its common stock is delisted from the Exchange.
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Cryptocurrency AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for quarter ended March 31, 2023.
Key Points:
- AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for quarter ended March 31, 2023.
- Cash, cash equivalents, and restricted cash totaled $0.3 million as of March 31, 2023.
- As of March 31, 2023, AgeX owed Juvenescence Limited $33.6 million in principal and origination fees on account of loans extended to AgeX.
- Revenues: Total Revenues for the first quarter of 2023 were $10,000 as compared with $5,000 in the same period in 2022.
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Wednesday, April 26, 2023
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Security (finance) AgeX Therapeutics , Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, announced today that on April 20, 2023 it received a letter (the “Deficiency Letter”) from the staff of the NYSE American (the “Exchange”) indicating that AgeX does not meet certain of the Exchange’s continued listing standards as set forth in Sections 1003(a)(i), (ii), and (iii) of the Exchange Company Guide in that AgeX has stockholders equity of less than (A) $2,000,000 and has incurred losses from continuing operations and/or net losses during its two most recent fiscal years, (B) $4,000,000 and has incurred losses from continuing operations and/or net losses during three out of four of its most recent fiscal years, and (C) $6.0 million or more and has reported losses from continuing operations and/or net losses in its five most recent fiscal years.
Key Points:
- AgeX Therapeutics , Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, announced today that on April 20, 2023 it received a letter (the “Deficiency Letter”) from the staff of the NYSE American (the “Exchange”) indicating that AgeX does not meet certain of the Exchange’s continued listing standards as set forth in Sections 1003(a)(i), (ii), and (iii) of the Exchange Company Guide in that AgeX has stockholders equity of less than (A) $2,000,000 and has incurred losses from continuing operations and/or net losses during its two most recent fiscal years, (B) $4,000,000 and has incurred losses from continuing operations and/or net losses during three out of four of its most recent fiscal years, and (C) $6.0 million or more and has reported losses from continuing operations and/or net losses in its five most recent fiscal years.
- The Deficiency Letter states that as AgeX remains subject to the conditions set forth in prior letters from the Exchange with respect to AgeX’s deficiencies in stockholders equity, and if AgeX is not in compliance with all of the Exchange’s stockholders equity standards, or does not make progress consistent with AgeX’s Exchange approved plan to come into compliance with the Exchange’s continued listing standards, by May 17, 2023, the Exchange will initiate delisting proceedings as appropriate.
- AgeX may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Exchange Company Guide.
- AgeX intends to make arrangements to have its common stock quoted on an electronic interdealer quotation system if its common stock is delisted from the Exchange.
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Cryptocurrency AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for fourth quarter and the full year ended December 31, 2022.
Key Points:
- AgeX Therapeutics, Inc. (“AgeX”; NYSE American: AGE), a biotechnology company developing therapeutics for human aging and regeneration, reported its financial and operating results for fourth quarter and the full year ended December 31, 2022.
- As of December 31, 2022, AgeX owed Juvenescence Limited $21.4 million in principal and origination fees on account of loans extended to AgeX.
- Revenues: Total revenues for the fourth quarter of 2022 were $8,000 as compared with $27,000 for the fourth quarter of 2021.
- Total revenues for the year ended December 31, 2022 were $34,000 as compared with $144,000 in the same period of 2021.
