Pieris Pharmaceuticals Inc

NASDAQ:PIRSUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

Mar 27, 2024

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• Pieris Pharmaceuticals Announces Strategy to Maximize Partnered Milestone and Royalty Potential, from 8:02AM ET on Wednesday Mar 27, 2024 by Accesswire

  8:02AM ET on Wednesday Mar 27, 2024 by Accesswire
  Companies Mentioned: PIRS

  BOSTON, MA / ACCESSWIRE / March 27, 2024 / Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) provided a corporate update today announcing a strategy to maximize its ability to capture the potential milestones from its 4-1BB bispecific Mabcalin^® (antibody-Anticalin fusion) protein immuno-oncology assets partnered with Pfizer (formerly Seagen), Boston Pharmaceuticals, and Servier. After considering an extensive range of options, the Company's Board of Directors decided to implement this new strategy along with relevant cost-saving measures that are expected to extend the Company's cash runway into 2027.

• Pieris Pharmaceuticals Announces Strategy to Maximize Partnered Milestone and Royalty Potential, from 8:02AM ET on Wednesday Mar 27, 2024 by Dow Jones

  8:02AM ET on Wednesday Mar 27, 2024 by Dow Jones
  Companies Mentioned: PIRS
  
  capable management team and board over time; our actual reductions in spending as compared to anticipated cost reductions; including in collaboration with other parties, the inherent uncertainties associated with developing new products or technologies, such as Anticalin based compounds, our partners' ability to develop, complete clinical trials for, obtain approvals for and commercialize any of our partnered product candidates; our partners ability to achieve expected market share if the drugs are approved and commercialized; uncertainty of overall market size of any of our partnered product candidates; competition in the industry in which we operate; the possibility that our partners may decide not to prioritize or further pursue the programs that we hope to receive milestone and royalty payments under; the fact that data and results from clinical studies may not necessarily be indicative of future results; we may face challenges in continuing to comply with Nasdaq listing standards, such as those relating to minimum price and operating company status; delays or disruptions due to geopolitical issues, including the conflict in Ukraine and the Middle East; and overall market conditions. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents we file with the Securities and Exchange Commission, or the SEC, available at www.sec.gov, including, without limitation, the Company's most recent Annual Report on Form 10-K, the Company's Quarterly Reports on Form 10-Q, and subsequent filings with the SEC.