Transcode Therapeutics, Inc. (RNAZ): Nasdaq/NYSE listing notice — TransCode receives Nasdaq delisting notice for negative stockholders' equity of $(236,792) as of Q1

Transcode Therapeutics, Inc.

On May 16, 2023, Nasdaq notified TransCode it fails minimum $2.5M equity requirement with $(236,792) reported for Q1 2023.
Company has 45 calendar days (until June 30, 2023) to submit a compliance plan to regain compliance.
If Nasdaq accepts the plan, it may grant up to 180 additional days to meet the equity requirement.
Separately, TransCode also faces a minimum bid price deficiency with deadline of June 7, 2023, adding delisting risk.
TransCode does not meet alternative listing standards (market value of listed securities or net income).

Key facts

Extracted from this filing and checked against the source text.

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

Transcode Therapeutics, 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

May 16, 2023, TransCode Therapeutics, Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that it is not in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on the Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000 (the “Stockholders’ Equity Requirement”). The Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2023

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5 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

Transcode Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-062121

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