BiomX Inc. Receives NYSE American Notification Letter Regarding Stockholders’ Equity Deficiency

Key Points and Implications for Investors

BiomX Inc. (NYSE American: PHGE) announced that it received a formal notice from the NYSE American exchange on March 25, 2026, indicating non-compliance with several continued listing standards related to stockholders’ equity.

• Equity Deficiency: The company failed to meet requirements under Sections 1003(a)(i), (ii), and (iii) of the NYSE American Company Guide. Specifically:
  • Section 1003(a)(i): Requires at least \$2.0 million in stockholders’ equity if the company has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years.
  • Section 1003(a)(ii): Requires at least \$4.0 million in stockholders’ equity if losses were reported in three of the last four years.
  • Section 1003(a)(iii): Requires at least \$6.0 million in stockholders’ equity if losses occurred in five consecutive fiscal years.
• Not Eligible for Exemptions: The company is not eligible for any available exemptions, including the market capitalization exemption for companies exceeding \$50 million in total market value.
• Compliance Plan Required: BiomX must submit a detailed plan to the NYSE American by April 24, 2026, outlining steps to regain compliance by September 25, 2027. Failure to submit an acceptable plan, or failure to meet milestones, will lead to delisting proceedings by the exchange.
• Potential Delisting Process: If the plan is not accepted, or if BiomX does not make sufficient progress or fails to regain compliance by the deadline, the NYSE American will initiate delisting proceedings. The company may appeal any staff determination to delist under Section 1010 and Part 12 of the Company Guide.
• Trading Status: The notice has no immediate effect on the listing or trading of BiomX’s common stock, which will continue to trade under the symbol “PHGE.”
• Going Concern Disclosure: The company’s most recent annual report (Form 10-K for fiscal year ended December 31, 2025) included a “going concern” qualification from its independent registered public accounting firm. This means there is substantial doubt about BiomX’s ability to continue as a going concern, which is a critical risk factor for investors.
• Management Actions: Company management is currently evaluating options to address these deficiencies and expects to submit its compliance plan on or before the NYSE American deadline.

Potential Share Price Impact and Critical Information for Shareholders

• Risk of Delisting: If BiomX fails to regain compliance, its shares could be delisted from the NYSE American. Delisting would significantly reduce share liquidity, may force shares to trade over-the-counter, and could negatively impact the share price.
• Going Concern Risk: The auditor’s going concern warning is a serious red flag, indicating the company may not have sufficient resources to continue operations over the next year without raising additional capital or executing a turnaround. This could further pressure the share price.
• No Change to Operations or SEC Reporting: The NYSE American notice does not directly impact day-to-day operations or SEC reporting requirements at this stage, but it does amplify the urgency for management to address its financial position.
• Timeline and Monitoring: Investors should closely monitor company communications ahead of the April 24, 2026, compliance plan deadline and the September 25, 2027, compliance deadline, as these milestones will determine the company’s continued listing status.

Forward Looking Statements

This press release contains forward-looking statements, including but not limited to the company’s ability to submit and execute a compliance plan, and to regain compliance with NYSE American listing standards. Actual outcomes may differ significantly from those anticipated due to various risks and uncertainties.

Contact for Investor Relations

Yair Ohayon
Email: [email protected]

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with professional advisors before making investment decisions. The information is based on BiomX Inc.’s public disclosures as of March 27, 2026, and may be subject to change.

View BiomX Inc. Historical chart here