180 Life Sciences Corp. (NASDAQ: ATNF), a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, has received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC (NASDAQ). The letter informed 180 Life Sciences that because it has not filed its quarterly report on form 10-Q for the quarter ended March 31, 2021, with the Securities and Exchange Commission (“SEC”), the company is not in compliance with Nasdaq Listing Rule 5250(c)(1). The company was anticipating the letter, which does not have any immediate impact on the listing or trading of ATNF’s common stock on the Nasdaq Capital Market. The company noted that, due to amended and restated financial statements of KBL Merger Corp. IV, ATNF’s predecessor, the company has not been able to complete its December 31, 2020, financial statements in a timely manner. 180 Life Sciences has until June 15, 2021, to file the required 2020 Form 10-K and the Q1 2021 Form 10-Q with the SEC, and the company anticipates submitting a plan to regain compliance with the Nasdaq Listing Rules on or before that date. Our auditors are still in the process of auditing our Dec. 31, 2020, financial statements and reviewing our March 31, 2021, financial statements,” the company said in the announcement. “And we plan to file our 2020 Form 10-K and the Q1 2021 Form 10-Q as soon as soon as possible within the timeline prescribed by Nasdaq.”
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About 180 Life Sciences Corp.
180 Life Sciences is a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain by leveraging the combined expertise of luminaries in therapeutics from Oxford University, the Hebrew University and Stanford University. 180 Life Sciences is leading the research into solving one of the world’s biggest drivers of disease — inflammation. The company is driving groundbreaking studies into clinical programs, which are seeking to develop novel drugs addressing separate areas of inflammation for which there are no effective therapies. 180 Life Sciences’ primary platform is a novel program to treat fibrosis using anti-TNF (“TNF”) (tumor necrosis factor). For more information about the company, visit
www.180LifeSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to ATNF are available in the company’s newsroom at
https://ibn.fm/ATNF
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