Full Press Release Details
THERAPEUTICS ANNOUNCES APPEAL OF NYSE AMERICAN DETERMINATION
Calif.-(BUSINESS WIRE)-May 23, 2023 - AgeX Therapeutics, Inc. ("AgeX"; NYSE American: AGE),
a biotechnology company developing therapeutics for human aging and regeneration, announced today that on May 17, 2023 it received a
notice from the staff of the NYSE American (the "Exchange") indicating that they intend to commence proceedings to delist
AgeX common stock from the Exchange based upon AgeX's non-compliance with the stockholders' equity requirements set forth
in Sections 1003(a)(i), (ii) and (iii) of the Exchange's Company Guide by the end of a compliance plan period that expired on May
17, 2023. Specifically, AgeX does not meet the continued listing standards because it has stockholders equity of less than (A) $2,000,000
and has incurred losses from continuing operations and/or net losses during its two most recent fiscal years, (B) $4,000,000 and has
incurred losses from continuing operations and/or net losses during three out of four of its most recent fiscal years, and (C) $6,000,000
or more and has reported losses from continuing operations and/or net losses in its five most recent fiscal years.
has the right to appeal this determination to a committee of the Board of Directors of the Exchange (the "Committee"). AgeX
intends to timely request a hearing before the Committee, and that request will stay any further action by the Exchange at least pending
the issuance of a decision by the Committee on the appeal. There can be no assurance that AgeX's request for continued listing
intends to make arrangements to have its common stock quoted on an electronic interdealer quotation system if its common stock is delisted
Therapeutics, Inc. (NYSE American: AGE) is focused on developing and commercializing innovative therapeutics to treat human diseases
to increase healthspan and combat the effects of aging. AgeX's PureStem and UniverCyte manufacturing and
immunotolerance technologies are designed to work together to generate highly defined, universal, allogeneic, off-the-shelf pluripotent
stem cell-derived young cells of any type for application in a variety of diseases with a high unmet medical need. AgeX has two preclinical
cell therapy programs: AGEX-VASC1 (vascular progenitor cells) for tissue ischemia and AGEX-BAT1 (brown fat cells) for Type II diabetes.
AgeX's revolutionary longevity platform induced Tissue Regeneration (iTR ) aims to unlock cellular immortality and regenerative
capacity to reverse age-related changes within tissues. HyStem is AgeX's delivery technology to stably engraft
PureStem or other cell therapies in the body. AgeX is seeking opportunities to establish licensing and collaboration arrangements around
its broad IP estate and proprietary technology platforms and therapy product candidates.
more information, please visit www.agexinc.com or connect with the company on Twitter, LinkedIn, Facebook,
statements contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements that are not historical fact including, but not limited to statements that contain words such as "will,"
"believes," "plans," "anticipates," "expects," "estimates" should also be
considered forward-looking statements. Forward-looking statements involve risks and uncertainties. Actual results may differ materially
from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties
that affect the business of AgeX Therapeutics, Inc. and its subsidiaries, particularly those mentioned in the cautionary statements found
in more detail in the "Risk Factors" section of AgeX's most recent Annual Report on Form 10-K filed with the Securities
and Exchange Commission (a copy of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking
statements to change. AgeX specifically disclaims any obligation or intention to update or revise these forward-looking statements as
a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.