Full Press Release Details
AGEX THERAPEUTICS RECEIVES STOCK EXCHANGE DEFICIENCY
ALAMEDA, Calif.-(BUSINESS WIRE)-April
26, 2023 - AgeX Therapeutics , Inc. ("AgeX": NYSE American: AGE), a biotechnology company developing therapeutics for
human aging and regeneration, announced today that on April 20, 2023 it received a letter (the "Deficiency Letter") from the
staff of the NYSE American (the "Exchange") indicating that AgeX does not meet certain of the Exchange's continued listing
standards as set forth in Sections 1003(a)(i), (ii), and (iii) of the Exchange Company Guide in that AgeX 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) $6.0 million or more and has reported losses from continuing operations and/or net losses in its five most recent fiscal years.
The Deficiency Letter states that as AgeX remains subject to the conditions set forth in prior letters from the Exchange with respect
to AgeX's deficiencies in stockholders equity, and if AgeX is not in compliance with all of the Exchange's stockholders equity
standards, or does not make progress consistent with AgeX's Exchange approved plan to come into compliance with the Exchange's
continued listing standards, by May 17, 2023, the Exchange will initiate delisting proceedings as appropriate. AgeX may appeal a staff
delisting determination in accordance with Section 1010 and Part 12 of the Exchange Company Guide.
AgeX intends to make arrangements to have its common
stock quoted on an electronic interdealer quotation system if its common stock is delisted from the Exchange.
About AgeX Therapeutics
AgeX 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.
For more information, please visit www.agexinc.com or
connect with the company on Twitter, LinkedIn, Facebook, and YouTube.
Forward-Looking Statements
Certain 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.