SHANGHAI, China and PALO ALTO, Calif., April 10, 2015 (GLOBE NEWSWIRE) -- Cellular Biomedicine Group Inc. (CBMG) ("CBMG" or the "Company"), a biomedicine firm engaged in the development of effective treatments for degenerative and cancerous diseases, today announced that it received notice that the NASDAQ Listing Qualifications Department has approved an application to upgrade the listing of the Company's securities from the NASDAQ Capital Market to the NASDAQ Global Market, effective with the opening of business on April 10, 2015. The NASDAQ Global Market is the segment for public companies that meet the higher listing standards of NASDAQ with requirements that include market value, financial and liquidity measurements and corporate governance standards.
"We are extremely pleased to upgrade to a higher tier market which marks another corporate milestone for the Company," commented Tony (Bizuo) Liu, Chief Financial Officer of Cellular Biomedicine Group. "Our upgrade to the NASDAQ Global Market demonstrates continued validation of the strong positive momentum of our cell therapy platforms, the significant clinical pipeline opportunities in front of us and our healthy balance sheet. We appreciate NASDAQ for recognizing our strict adherence to corporate governance standards and enabling the Company to raise our profile in the investment community."
The Company's stock will continue to trade under the ticker symbol "CBMG" after the upgrade.
About Cellular Biomedicine Group
Cellular Biomedicine Group, Inc. develops proprietary cell therapies for the treatment of certain degenerative diseases and cancers. Our developmental stem cell, progenitor cell, and immune cell projects are the result of research and development by scientists and doctors from China and the United States. Our flagship GMP facility in China, consisting of eight independent cell production lines, is designed, certified and managed according to U.S. standards. To learn more about CBMG, please visit: www.cellbiomedgroup.com
Statements in this press release relating to plans, strategies, trends, specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "expects," "plans," "intends," "estimates," "potential," or "continue," or similar terms or the negative of these terms. Although CBMG believes the expectations reflected in the forward-looking statements are reasonable, they cannot guarantee that future results, levels of activity, performance or achievements will be obtained. CBMG does not have any obligation to update these forward-looking statements other than as required by law.
CBMG Response to "Pump Stopper" Alligations
Director of Corporate Communications, CBMG
+1 650 566-5064
Managing Director Investor Relations, Grayling
+1 347 481-3711