Axcella Health Inc.: Nasdaq/NYSE listing notice — Axcella Health fails to regain Nasdaq market value compliance; hearing set; bid price deficiency cured

Axcella Health Inc.

Received Nasdaq notice on Oct 3, 2023 for continued non-compliance with MVPHS ($15M) and MVLS ($50M) listing rules.
Plans to submit written views to Nasdaq Hearings Panel by Oct 10, 2023; hearing expected Oct 30, 2023 stays delisting.
Common stock (AXLA) will remain listed and eligible for trading pending final hearing outcome.
On Oct 4, 2023, Nasdaq confirmed bid price compliance regained (closing bid $1.00+ from Sep 19 to Oct 3); matter closed.

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 market value (rules 5450(b)(2)(C), 5450(b)(2)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(C), 5450(b)(2)(A)

Exact text from the filing

October 3, 2023, we received written notice from the Staff of Nasdaq that we did not regain compliance with the MVPHS and MVLS listing rule requirements. We plan to submit our views with respect to these deficiencies to the Nasdaq’ Hearings Panel in writing no later than October 10, 2023. The Company was granted a hearing before the Panel, which is expected to take place on October 30, 2023. Such hearing will stay any further delisting action by the Staff at least pending the ultimate outcome of the hearing and the expiration of any extension that may be granted by the Panel. The Company’s com

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Source: SEC EDGAR

accession 0001104659-23-107527

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