Immutep Ltd. (PBMD)

[harmsen]

SYDNEY, AUSTRALIA--(Marketwired - Aug 10, 2016) - Prima BioMed Ltd (NASDAQ: PBMD) (ASX: PRR) ("Prima", the "Company"), has received notification from the Listing Qualifications Department of The NASDAQ Stock Market (the "Staff") indicating that, for the period from June 24, 2016 through August 5, 2016, the closing bid price of the Company's American Depositary Shares, or ADS, had not been maintained at the minimum required closing bid price of at least US$1.00 per share as required for continued listing on The NASDAQ Global Market pursuant to NASDAQ Listing Rule 5450(a)(1) (the "Minimum Bid Price Rule").
Prima has a period of 180-calendar days, or until February 6, 2017, to regain compliance with the Minimum Bid Price Rule. Within any time during the 180-day period the minimum closing bid price per share of the ADSs closes at or above US$1.00 for a minimum of ten consecutive business days, the Staff will provide written notification to the Company that it complies with the Minimum Bid Price Rule and the matter will be closed. Prima's management is looking into various options available to the Company in order to regain compliance and maintain its continued listing on The NASDAQ Global Market.