PaxMedica, Inc.: Nasdaq/NYSE listing notice — PaxMedica receives Nasdaq delisting notice for bid price below $1.00; plans to request hearing

PaxMedica, Inc.

Nasdaq notified PXMD on Jan 12, 2024 that bid price closed below $1.00 for 31 consecutive days.
Company is ineligible for grace period due to existing Panel Monitor until Dec 20, 2024.
PXMD will request a hearing to stay delisting and may ask for 180 days to regain compliance.
No assurance that Panel will grant additional time; stock continues trading pending decision.

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

PaxMedica, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

January 12, 2024, PaxMedica, Inc. (the “Company”) received a notification letter (the “Notice”) from the Listing Qualification Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) advising the Company that for 31 consecutive trading days preceding January 11, 2024, the bid price of the Company’s common stock had closed below the $1.00 per share minimum required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). As a result of the Nasdaq Hearings Panel (the “Panel”) imposing the previously disclosed Panel

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Source: SEC EDGAR

accession 0001104659-24-003769

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