VANCOUVER, BC, March 17, 2025 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (“BioVaxys” or “Company”) has issued a bi-weekly update regarding the Management Cease Trade Order (MCTO) granted on March 3, 2025, by the British Columbia Securities Commission (BCSC). The MCTO, issued under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), followed the Company’s announcement on February 13, 2025, and March 3, 2025, that it was unable to file its annual financial statements for the year ended October 31, 2024, along with related documents (collectively, the “Required Filings”).
Under National Instrument 51-102, these Required Filings were due by February 28, 2025. BioVaxys is collaborating with its auditor, Dale Matheson Carr-Hilton LaBonte LLP, to complete the filings as soon as possible. The Company remains optimistic about completing the Required Filings by March 30, 2025, assuming current conditions hold. There are no material changes to the information provided in the previous Default Announcement.
BioVaxys stated that it is and will continue to satisfy the alternative information guidelines outlined in NP 12-203. The company commits to issuing bi-weekly default status reports as news releases while the Required Filings remain outstanding. The Company confirmed that it has no information at this time regarding any anticipated specified default subsequent to the initial failure to file. Moreover, it confirms that, as of the date of this release, it is not subject to any insolvency proceedings, and there is no other undisclosed material information concerning the Company’s affairs.
While the MCTO is in effect, the general public can still freely trade BioVaxys’ common shares. However, the order restricts the Chief Executive Officer and Chief Financial Officer from trading the Company’s securities. Additionally, until the Required Filings are made and all continuous disclosure requirements are met, the Company is prohibited from issuing or acquiring securities from its insiders or employees.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceutical company based in British Columbia, Canada, is advancing novel immunotherapies based on its DPX™ immune-educating and HapTenix© ‘neoantigen’ tumor cell construct platforms. These platforms address cancers, infectious diseases, antigen desensitization, and other immunological fields. The Company is developing maveropepimut-S, currently in Phase II clinical trials for advanced relapsed-refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum-resistant ovarian cancer. It is also preparing to launch Phase I trials in Spain for BVX-0918, a personalized immunotherapeutic vaccine leveraging its proprietary HapTenix© platform to fight refractive late-stage ovarian cancer.
BioVaxys is leveraging its expertise in tumor immunology to develop a unique library of T-lymphocytes and other datasets post-vaccination using its personalized immunotherapeutic vaccines to employ predictive algorithms and other technologies to identify new targetable tumor antigens.
BioVaxys common shares are listed on the Canadian Securities Exchange under the symbol “BIOV” and also trade on the Frankfurt Bourse (FRA: 5LB) and in the U.S. on the OTC Markets (OTCQB marketplace).
For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin” James Passin, Chief Executive Officer Phone: +1 740 358 0555
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking information and statements, including those related to the filing of the Required Filings by March 30, 2025, and BioVaxys’s ability to comply with alternative information guidelines, as described in NP 12-203. These statements reflect the Company’s current beliefs and are based on a number of assumptions and estimates, which, while seen as reasonable, are subject to business and other risks and uncertainties. Actual results may differ materially. BioVaxys does not undertake to update such statements except as required by applicable security laws.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release and does not accept responsibility for its accuracy.
