Globelimmune (GBIM) off Nasdaq; Down more than 34% Today

Stephen L Kanaval  |

Louisville-based Globelimmune (GBIM), a developer of cancer drugs, has voluntary decided to delist and deregister its common stock from the Nasdaq. The company has chosen to leave Nasdaq after being unable to find a suitable strategic transaction after a year-long process. The company’s stock is down 34% on the news today. Globelimmune will start trading on the OTC Market’s Pink market tier after the notification for removal is finalized.

The company has three ongoing clinical trials but the company has lost money the last two years (a net loss of $2.8 million last year and $16.3 in 2014). GBIM was in the news recently from a rise in share price due to speculation that the company had found a partner, but there was no verifiable data to backup that meteoric rise.

If readers are unfamiliar with GlobelImmune, the company has created a disease-fighting heat-inactivated yeast containing Tarmogen, which if all goes well reduces target cells that also contain Tarmogen.

Lastly, It was at one time speculated that a secondary offering was coming, but, obviously, that was not to be.

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Companies

Symbol Name Price Change % Volume
GBIM GlobeImmune Inc. 0.06 -0.04 -39.50 2,001

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