The rule requires that stock issuers such as ImmunoCellular that trade on the Over-the-Counter Link Alternative Trading System, or OTC, must make information about the company publicly accessible.
ImmunoCellular submitted an application and payment to the OTC in order to comply with the amended rule, which will be applicable this September.
By the September deadline, the company intends to submit “internally prepared financial statements” to meet compliance requirements. If the new requirements are not met by ImmunoCellular, shares of its common stock will become ineligible for public quoting.
Shares of ImmunoCellular (MNKD) rose 3 cents, or 4.9 percent, closing Tuesday at 64 cents on the over-the-counter market.