AIM ImmunoTech gets NYSE American delisting notice over low stock price

AIM ImmunoTech Inc. (NYSE American: AIM) said NYSE American has suspended trading in its common stock and decided to start proceedings to delist it. The company received the notice on April 4, 2025 and reported it in a Form 8-K filed April 7, 2025 under Item 3.01. The exchange cited the low selling price of the stock. The company says it plans to appeal, and it expects its common stock to begin trading on the Pink Open Market on April 7, 2025.

What the filing says

AIM received the notice from NYSE Regulation of the NYSE American LLC. The exchange determined that the company is no longer suitable for listing under Section 1003(f)(v) of the NYSE American Company Guide, which the filing ties to the low selling price of the common stock.

The 8-K says the company has a right to a review of the delisting determination by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the NYSE American. It adds that there can be no assurance any appeal will succeed. The NYSE will apply to the Securities and Exchange Commission to delist the common stock pending completion of the applicable procedures, including any appeal by the company.

The company's announcement

Under the exchange's procedures, AIM issued a press release on April 4, 2025. The release is filed as Exhibit 99.1 and is titled "AIM ImmunoTech Announces NYSE American Notice of Delisting and Appeal". It repeats the points in the 8-K and says the company plans to appeal the determination to the Exchange's Listing Qualifications Panel, with no assurance that the appeal will be successful.

The forward-looking statements section in both documents mentions the company's intention to regain compliance with the listing requirements of the NYSE American and its ability to do so. Chief Executive Officer Thomas K. Equels signed the 8-K for AIM.

About the company

AIM calls itself an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, viral diseases and immune disorders. Its Form 10-K filed March 27, 2025 says it is headquartered in Ocala, Florida. The flagship products are Ampligen (rintatolimod) and Alferon N Injection (Interferon alfa).

The 10-K says Ampligen has not been approved by the FDA or marketed in the United States but is approved for commercial sale in the Argentine Republic for the treatment of severe Chronic Fatigue Syndrome. The company lists four areas of work: clinical trials of Ampligen for pancreatic cancer, evaluating Ampligen across multiple cancers, exploring its antiviral activities, and evaluating it for myalgic encephalomyelitis/chronic fatigue syndrome and the Post-COVID condition of fatigue. It is also evaluating Ampligen as a vaccine adjuvant with AstraZeneca's FluMist as an intranasal vaccine for influenza.

The company says it engaged Amarex Clinical Research, its clinical research organization, for an Investigational New Drug application for a potential avian influenza combination therapy. It also says the Erasmus Medical Center Safety Committee approved proceeding with a Phase 2 study of Ampligen and Imfinzi as a potential combination therapy.

Going concern language

The 10-K includes a report from the auditor, BDO USA, P.C., with a going concern section covering the consolidated financial statements at December 31, 2024 and 2023. It says the company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern.

People named in the 10-K

The 10-K lists William Mitchell as Chairman of the Board and Director and Robert Dickey IV as Chief Financial Officer. It also lists directors Nancy Bryan, Ted D. Kellner and David Chemerow.

Report an error

Companies in this story

AIMAIM ImmunoTech Inc.AMEX · United StatesOpen the starter desk