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Argos To Terminate ADAPT Study; Plans To Explore Strategic Alternatives

Argos Therapeutics, Inc. (ARGS) reported interim results from its randomized, active controlled, open-label, multi-center Phase 3 ADAPT trial of Rocapuldencel-T in combination with sunitinib/standard-of-care for the treatment of newly diagnosed metastatic renal cell carcinoma. Based on the results, the company has decided to discontinue the trial.

Argos said it plans to explore a wide range of strategic alternatives that may include a potential merger or sale of the company, among other potential alternatives. The company has retained Stifel, Nicolaus & Company, Incorporated to serve as its financial advisor in the process.

Argos also reported that it does not expect to regain compliance with The Nasdaq Capital Market continued listing requirements by the April 24, 2018 deadline. As a result, Argos expects that its common stock will be delisted from The Nasdaq Capital Market and that trading in the company's common stock on The Nasdaq Capital Market will be suspended effective at the open of business on April 23, 2018.

Argos Therapeutics has filed an application to transfer trading and quotation of its common stock to the OTCQB Venture Market, operated by OTC Markets Group Inc., under its current trading symbol, ARGS, effective as of April 23, 2018.

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