Scopus BioPharma Inc.: Nasdaq/NYSE listing notice — Scopus BioPharma receives Nasdaq public reprimand for listing non-compliance; final extension to Jan 9, 2023

Scopus BioPharma Inc.

Nasdaq publicly reprimanded Scopus for failing to comply with Listing Rule 5250(a)(1) regarding timely notification.
Company missed milestone dates in its Compliance Plan and did not inform Nasdaq; granted final extension to Jan 9, 2023.
Must satisfy Minimum Bid Price ($1.00), MVLS ($50M), and MVPHS ($15M) requirements by Jan 9 or face delisting.
Failure to comply would likely have a material adverse effect on trading and value of the common stock.
Company continues best efforts but cannot assure compliance; delisting risk remains significant.

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

Scopus BioPharma Inc. received a nasdaq extension granted notice regarding other (rules 5815(c)(1)(D), 5250(a)(1)).

Exchange: nasdaq
Notice: extension granted
Rules: 5815(c)(1)(D), 5250(a)(1)

Exact text from the filing

December 1, 2022, Nasdaq informed the Company that the Panel has determined to grant the Company a final extension to such milestone dates and publicly reprimanded the Company. Such public reprimand, pursuant to Listing Rule 5815(c)(1)(D), was issued to the Company for its failure to comply with Listing Rule 5250(a)(1), requiring it to notify Nasdaq of certain significant developments that led to its prior representations about its ability to satisfy the terms of the Decision and, therefore, the Exchange’s continued listing requirements being inaccurate. While the Company is continuing to use

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Source: SEC EDGAR

accession 0001104659-22-124179

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