TREVENA INC: Nasdaq/NYSE listing notice — Trevena receives Nasdaq delisting notice for negative stockholders' equity of $7.7M

TREVENA INC

Nasdaq notified Trevena it fails minimum $2.5M equity standard; equity was -$7.657M as of Dec 31, 2023.
Company also does not meet alternative market value or net income standards.
Appeal hearing before Nasdaq Panel scheduled for May 2, 2024; company must submit compliance plan by then.
Prior bid price deficiency notice (below $1.00) also pending; both issues must be resolved for continued listing.
There is no assurance the Panel will grant an extension or that compliance can be regained.

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 0.82

TREVENA INC received a nasdaq noncompliance notice notice regarding late filing (rules 5550(b)(1), 5550(a)(2)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: late filing
Rules: 5550(b)(1), 5550(a)(2)

Exact text from the filing

December 31, 2023, and that, as of April 5, 2024, the Company did not meet the Alternative Standards. The Notice has no immediate effect on the Company’s listing on The Nasdaq Capital Market. As previously disclosed, on March 1, 2024, the Company received a letter from Nasdaq stating that, for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share required for continued inclusion on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) and was not eligible for a second 180-d

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Source: SEC EDGAR

accession 0001104659-24-045212

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