NKGen Biotech Provides Clarification on Quotation Display and Trading Status on the OTC Expert Market

SANTA ANA, Calif., Oct. 09, 2025 (GLOBE NEWSWIRE) -- NKGen Biotech, Inc. (OTC:NKGN) ("NKGen" or the "Company"), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic natural killer ("NK") cell therapeutics, today issued the following statement in response to recent shareholder inquiries regarding its current trading status on the OTC Expert Market and the display of a $0.00 common stock, $0.0001 par value per share (the "Common Stock"), price on certain financial websites.

The appearance of a $0.00 Common Stock price does not reflect the actual value of the Company or its Common Stock. This figure results from the limitations on public quote dissemination associated with securities traded on the OTC Expert Market, and not from any change in the Company's underlying fundamentals or business operations.

As previously disclosed in the Company's Form 8-K filed on July 16, 2025, the Company received notice on July 14, 2025 from OTC Markets Group ("OTC") that due to the Company's failure to meet the requirement to stay current in its filings under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as required under the continued listing requirements of the OTC Pink Open Market, and the expiration of the grace period granted thereunder to post such filings, quotations in the Company's shares of Common Stock were moved to the OTC Expert Market on or about July 17, 2025.

The OTC Expert Market is a quotation venue for securities of companies that are not current in their public disclosures. Due to regulatory restrictions, price quotes and trading data (such as bid/ask prices and volume) are not available to retail investors on most financial platforms. Only broker-dealers and institutional investors have access to real-time quote information, which is why some financial websites display a $0.00 price of our Common Stock.

It is important to note that the Company's Common Stock is not delisted. The Company's Common Stock is still tradable and listed, but because current financial information is not available, the OTC has restricted public price quotes. Instead, pricing information is now accessible only to brokers and market makers. This action ensures some level of market transparency even while the Company's filings are being completed. Investors can still buy or sell the Company's Common Stock but should consult with their brokers for the most up-to-date pricing and trading information.

Despite these current restrictions, the Company remains fully operational and is actively working to regain compliance with the reporting obligations under the Exchange Act. On October 8, 2025, the Company filed its Form 10-K for the year ended December 31, 2024. The Company is now focused on completing and filing its Form 10-Qs for the quarters ended March 31, June 30, and September 30, 2025, as part of its plan to become current as soon as possible with the Exchange Act's reporting obligations.

The Company is committed to transparency, corporate compliance, and restoring full access to market information for all shareholders. Further updates will be provided as developments occur.

About NKGen Biotech

NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous and allogeneic NK cell therapeutics. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Forward-Looking Statements 

Statements contained in this press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "could", "continue", "expect", "estimate", "may", "plan", "outlook", "future" and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Because such statements are subject to risks and uncertainties, many of which are outside of the Company's control, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding the Company's anticipated timing and content of its filings with the U.S. Securities and Exchange Commission (the "SEC") and other public disclosures; the Company's plans and expected timing for developing troculeucel and SNK02, including the expected timing of completing and announcing further results from its ongoing clinical studies; and the Company's expected timing for developing its product candidates and potential benefits of its product candidates. Risks that contribute to the uncertain nature of the forward-looking statements include: the Company's ability to execute its plans and strategies; risks related to performing clinical studies; the risk that initial and interim results of a clinical study do not necessarily predict final results and that one or more of the clinical outcomes may materially change as patient enrollment continues, following more comprehensive reviews of the data, and as more patient data become available; potential delays in the commencement, enrollment and completion of clinical studies and the reporting of data therefrom; the risk that studies will not be completed as planned; the risk that the abstract will not be published as planned including delays in timing, format, or accessibility; and NKGen's ability to raise additional funding to complete the development of its product candidates. Additional risks include uncertainties related to the Company's acquisition of a majority interest in NKMax, including risks regarding the future performance of NKMax's business, the Company's ability to successfully integrate NKMax's operations, personnel, and technologies, potential challenges in realizing expected synergies and cost savings, and risks that the Company may not achieve the anticipated strategic, financial, or operational benefits of the acquisition on the expected timeline or at all. These and other risks and uncertainties are described more fully under the caption "Risk Factors" and elsewhere in the Company's filings and reports, which may be accessed for free by visiting the SEC's website at www.sec.gov and on the Company's website under the subheading "Investors—Financial and Filings". Investors should take such risks into account and should not rely on forward-looking statements when making investment decisions. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Internal Contact:

Denise Chua, MBA, CLS, MLS (ASCP)

SVP, Corporate Affairs

949-396-6830

[email protected]

External Contact:

Kevin Gardner

Managing Director

LifeSci Advisors, LLC

[email protected]