Innoviva, Inc. (INVA): Nasdaq/NYSE listing notice — Innoviva receives Nasdaq notice for audit committee non-compliance after director resignation

Innoviva, Inc.

Nasdaq notified Innoviva on Aug 2, 2023, that Audit Committee has only 2 independent directors after Dr. Deborah L. Birx resigned July 10.
Company has cure period until the earlier of next annual meeting or July 10, 2024 to regain compliance with Nasdaq Rule 5605.
No immediate impact on Nasdaq listing or common stock trading.
Board is evaluating committee composition and intends to comply fully before cure period ends.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Innoviva, Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605, 5605(a)(2), 5605(c)(4)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605, 5605(a)(2), 5605(c)(4)

Exact text from the filing

August 2, 2023, Innoviva, Inc. (the “Company”) received a notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, due to Dr. Deborah L. Birx’s previously disclosed resignation from the Company’s Board of Directors (the “Board”), the Company is not in compliance with Nasdaq’s audit committee composition requirements, as set forth in Nasdaq Listing Rule 5605, which requires that the Audit Committee of the Board (the “Audit Committee”) be comprised of at least three “independent directors” (as defined in Nasdaq Listing

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Innoviva, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-088390

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