Acer Therapeutics Inc.: Nasdaq/NYSE listing notice — Acer Therapeutics receives Nasdaq delisting notice for MVLS below $35M; 180-day compliance period

Acer Therapeutics Inc.

Nasdaq notified Acer on May 3, 2023 that MVLS was below $35M for 30 consecutive business days, violating rule 5550(b)(2).
Company has until October 30, 2023 to regain compliance by achieving MVLS ≥ $35M for 10 consecutive trading days.
Alternatively, Acer can regain compliance by maintaining minimum stockholders' equity of $2.5 million.
If compliance not regained, Nasdaq may delist shares; company can appeal to a Hearings Panel.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Acer Therapeutics Inc. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

May 3, 2023, Acer Therapeutics Inc. (the “Company”) received a letter from the listing qualifications department staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that for the last 30 consecutive business days, the Company’s minimum Market Value of Listed Securities (“MVLS”) was below the minimum of $35 million required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq listing rule 5550(b)(2). The notice has no immediate effect on the listing of the Company’s common stock, and the Company’s common stock continues to trade on the Nasdaq Capital Market under t

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Source: SEC EDGAR

accession 0000950170-23-017313

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