Cellectar Biosciences, Inc. (CLRB): Nasdaq/NYSE listing notice — Cellectar Biosciences receives Nasdaq delisting notice over negative stockholders' equity

Cellectar Biosciences, Inc.

Stockholders' equity of ($467,004) as of June 30, 2023, below Nasdaq's $2.5M minimum.
Company has until September 30, 2023 to submit a compliance plan to Nasdaq.
If plan accepted, extension possible until February 12, 2024; delisting risk remains.
No immediate impact on listing; hearing process available if delisting determined.

Key facts

Extracted from this filing and checked against the source text.

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

Cellectar Biosciences, 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

August 16, 2023, Cellectar Biosciences, Inc. (the “Company”) received notice from Nasdaq which indicated that under Nasdaq Listing Rule 5550(b)(1), the Company is required to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. In the Company’s Form 10-Q for the period ended June 30, 2023, the Company reported stockholders’ equity was $(467,004). The notice does not have any immediate impact on the listing of the Company’s stock on Nasdaq. In accordance with the Nasdaq Listing Rules, the Company has 45 calendar days, or until September 30, 2023, to submit a plan to r

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Cellectar Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-093947

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