BioVaxys Technology Corp. Receives Management Cease Trade Order from BCSC Amid Financial Delays

Management Cease Trade Order for BioVaxys Technology Corp.

BioVaxys Technology Corp. (CSE: BIOV) has reported that its principal regulator, the British Columbia Securities Commission (BCSC), granted a Management Cease Trade Order (MCTO) as of March 3, 2025. This order is in response to the Company's expected delay in submitting essential financial filings for the year ending on October 31, 2024. The MCTO allows the public to continue trading BioVaxys shares but restricts the company's Chief Executive Officer and Chief Financial Officer from engaging in any trades.

In a previous announcement dated February 13, 2025, BioVaxys indicated its anticipation of delays in the filing of its audited annual financial statements and related documentation. The required filings, which include management analysis and CEO/CFO certifications, were due by February 28, 2025. The setbacks stem, in part, from the recent acquisition of significant intellectual property and clinical stage assets from a former company, IMV Inc. This acquisition, finalized on February 16, 2024, included the transfer of 120 patents relevant to the company's unique immunotherapy platform.

Despite the delays, BioVaxys is working diligently to complete the audits and expects to resolve the issues by March 30, 2025. This timeline will also correlate with when they aim to fulfill their filing obligations. The auditor, Dale Matheson Carr-Hilton LaBonte LLP, is currently engaged in an extensive review and valuation of the acquired patents, which has contributed to the delay.

While the MCTO remains in effect, it is important to note that ordinary investors retain the ability to trade BioVaxys’s common shares. However, restrictions apply to executives, limiting their securities trading during the MCTO duration. Furthermore, the company faces limitations on issuing or acquiring shares from insiders until compliance with all filing requirements is met and the MCTO lifted.

To remain compliant and transparent, BioVaxys will issue bi-weekly updates regarding their status under the alternative information guidelines established by NP 12-203 until all matters are resolved. As of this notice, the company has affirmed there are no ongoing insolvency proceedings nor has any undisclosed material information regarding its operational status.

About BioVaxys Technology Corp.

BioVaxys Technology Corp. is a clinical-stage biopharmaceuticals firm based in British Columbia, committed to developing innovative immunotherapies utilizing the DPX™ immune-educating technology for applications in cancer treatment and infectious diseases. Their clinical pipeline showcases maveropepimut-S, currently in Phase II trials for aggressive cancer types, alongside BVX-0918, a personalized vaccine soon to embark on Phase I trials for advanced ovarian cancer.

The firm holds a strategic focus on leveraging its tumor immunology expertise and comprehending immune responses to create personalized therapeutics.

For more information about BioVaxys and their ongoing work, visit bioVaxys.com and follow them on social media platforms like LinkedIn.

Cautionary Statements Regarding Forward-Looking Information
This release contains forward-looking statements concerning the anticipated filing of required reports and compliance with regulatory guidelines. Factors influencing the actual results include various uncertainties and could diverge substantially from current expectations, depending on the effectiveness of the company's strategy and market conditions. As such, BioVaxys is not obligated to amend these forward-looking statements unless mandated by applicable securities rule.