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ACHL News
ACHL Events
Achilles Therapeutics announces voluntary Nasdaq delisting, SEC deregistration
Achilles Therapeutics has formally notified The Nasdaq Stock Market of its intention to voluntarily delist its American Depositary Shares from Nasdaq and its intent to deregister its ADSs from the Securities and Exchange Commission under Section 12(b) of the Securities Exchange Act of 1934. As previously reported, the Company has called a General Meeting for March 20, 2025 to obtain shareholder approval to commence a members' voluntary liquidation. The planned delisting of the ADSs is being undertaken in connection with the contemplated liquidation. The Company intends to file a Form 25 with the SEC on March 10, 2025, and expects the last trading day of the Company's common stock on Nasdaq will be March 20, 2025. Following delisting from Nasdaq, any trading in the Company's ADSs would occur only in privately negotiated sales and potentially on an over-the-counter market if a broker makes a market in the ADSs. There is no guarantee, however, that a broker will make such a market or that trading of the ADSs will continue on an over-the-counter market or otherwise. The Company also intends to file a Form 15 with the SEC on or about March 20, 2025. Upon filing, the Company's obligation to file periodic reports with the SEC, including Forms 20-F and 6-K, will be suspended immediately and will terminate when deregistration becomes effective 90 days after the Form 15 is filed.
Achilles Therapeutics sells technology assets to AstraZeneca for $12M
Achilles Therapeutics (ACHL) announced that it has transferred the commercial license of data and samples from the TRACERx Non-Small Cell Lung Cancer study to AstraZeneca (AZN). TRACERx, led by Professor Charles Swanton at University College London, UK, is one of the largest tumor evolution studies to generate deep sequencing multi-region and multi-time-point genetic data from over 3,200 tumor samples from over 800 lung cancer patients. As part of the transaction, AstraZeneca will also take over as sponsor of Achilles' Material Acquisition Platform, and receive tumor samples and data collected thus far. MAP is a proprietary network that has collected donor tumor tissue and blood from nearly 300 cancer patients undergoing standard-of-care cancer surgery across multiple solid tumor indications, including lung, melanoma, head and neck, renal, bladder, and breast. AstraZeneca has agreed to pay Achilles Therapeutics $12M for the assets in total.
Achilles Therapeutics receives approval to transfer to Nasdaq Capital Market
Achilles Therapeutics announced that on November 15, 2024, the Listing Qualifications department of the Nasdaq Stock Market approved the Company's request to transfer the listing of the Company's American Depositary Shares from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer is expected to take effect at the opening of business on November 19, 2024. The transfer of the Company's listing to the Nasdaq Capital Market is not expected to have any impact on trading in the Company's ADSs. The Company's ADSs will continue to trade under the symbol "ACHL." The approval by Nasdaq was conditioned upon the Company meeting the applicable market value requirement of publicly held shares for continued listing and all other applicable requirements for listing on the Nasdaq Capital Market. As previously disclosed, on May 17, 2024, the Company received a letter from Nasdaq indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1), as the closing bid price of the ADSs had been below $1.00 per ADS for the previous 30 consecutive business days. The Company was given a period of 180 calendar days to regain compliance with the minimum bid price requirement. In response, the Company submitted an application to transfer the listing of its ADSs from the Nasdaq Global Market to the Nasdaq Capital Market. As a result of the transfer to the Nasdaq Capital Market, the Company will be eligible for an additional 180 calendar days to regain compliance with the requirements set forth in Nasdaq Listing Rule 5450(a)(1) that the bid price of the Company's shares meet or exceed $1.00 per share for at least ten consecutive business days. The Company intends to continue to actively monitor the minimum bid price requirement and, as appropriate, will consider available options to resolve any deficiencies and regain compliance.
Achilles Therapeutics reports Q3 EPS (48c) vs. (42c) last year
Following the discontinuation of its TIL-based cNeT program and closure of the Phase I/IIa CHIRON and THETIS clinical trials, the Company has engaged BofA Securities as a financial advisor in the process of exploring strategic options.
Achilles to end development of TIL-based cNeT therapy, conduct strategic review
Achilles Therapeutics announced the discontinuation of its TIL-based cNeT program and closure of the Phase I/IIa CHIRON and THETIS clinical trials. The Company will refocus its strategy to explore further engagement with third parties who are developing alternative modalities to target clonal neoantigens for the treatment of cancers, such as neoantigen vaccines, ADCs, and TCR-T therapies. Concurrently, the Company has engaged BofA Securities as a financial advisor in the process of exploring and reviewing value-maximizing strategies. "Our data continue to illustrate the importance of clonal neoantigens as targets and show some clinical activity, however our studies in lung cancer and melanoma have not met our goals for commercial viability. We are grateful for the support and commitment of our patients, investigators, employees and shareholders throughout this journey," said Dr Iraj Ali, CEO. "We are actively exploring new opportunities to leverage our substantial assets and cutting-edge technology platforms. Our goal remains to drive the development of effective treatments for patients and create long-term value for our shareholders." Oconnection with the strategic update, the Company is implementing an employee consultation process in line with UK legislation proposing a workforce reduction and undertaking other cost-cutting measures. The Company recognizes the significant contributions of its talented team and is committed to supporting all employees throughout this transition period. Achilles intends to retain all employees essential for supporting value-realization as part of its strategic review. As of June 30, 2024, the Company had $95.1 million in cash and cash equivalents. The full clinical data generated from the Phase I/IIa CHIRON trial in patients with advanced non-small cell lung cancer and the Phase I/IIa THETIS trial in patients with recurrent or metastatic melanoma will be presented in an upcoming forum. The process of exploring strategic alternatives may include, but is not limited to, an acquisition, merger, reverse merger, business combination, asset sale, licensing, or other transactions. There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions, or as to the timing of any such agreements or transactions. Achilles Therapeutics does not intend to discuss or disclose further developments regarding the exploration of strategic alternatives unless and until its Board of Directors has approved a definitive action or otherwise determined that further disclosure is appropriate or required by law.
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