Corbus Pharmaceuticals Holdings, Inc. (CRBP): Nasdaq/NYSE listing notice — Corbus receives Nasdaq delisting notice for equity below $2.5M minimum

Corbus Pharmaceuticals Holdings, Inc.

Nasdaq notified Corbus on Nov 10, 2023 that stockholders' equity of $311,016 as of Sept 30, 2023 is below the $2.5M minimum for continued listing.
Corbus has 45 calendar days, until Dec 26, 2023, to submit a plan to regain compliance with Listing Rule 5550(b)(1).
If Nasdaq accepts the plan, it may grant an extension up to May 8, 2024; rejection can be appealed to a hearings panel.
Company also updated risk factors to warn of potential delisting consequences: reduced liquidity, penny stock rules, and impaired capital raising ability.

Key facts

Extracted from this filing and checked against the source text.

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

Corbus Pharmaceuticals Holdings, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

November 10, 2023, Corbus Pharmaceuticals Holdings, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market, under Listing Rule 5550(b)(1), because the Company’s stockholders’ equity of $311,016, as reported in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2023, was below the required minimum of $2.5 million, and because, as of Nov

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Corbus Pharmaceuticals Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-063134

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