Axcella Health Inc.: Nasdaq/NYSE listing notice — Axcella Health receives Nasdaq deficiency notice for minimum bid price; faces potential delisting

Axcella Health Inc.

Received Nasdaq letter on Dec 30, 2022 for non-compliance with minimum bid price (closing bid < $1.00 for 30 consecutive days).
Has 180 days until June 28, 2023 to regain compliance by closing at $1.00+ for 10 consecutive business days.
May be eligible for additional 180-day period if transferred to Nasdaq Capital Market, subject to other listing standards.
Company may consider a reverse stock split to regain compliance, but no assurance of success.

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

Axcella Health Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

December 30, 2022, Axcella Health Inc. (the “Company” or “Axcella”), doing business as “Axcella Therapeutics,” received a letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, for the 30 consecutive business day period between November 16, 2022 through December 29, 2022, the Company’s common stock had not maintained a minimum closing bid price of $1.00 per share (the “Minimum Bid Price Requirement”) required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1). The Nasdaq letter

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Source: SEC EDGAR

accession 0001104659-23-000495

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