INFINITY PHARMACEUTICALS, INC.: Nasdaq/NYSE listing notice — Infinity Pharma receives Nasdaq deficiency for Minimum MVPHS; faces multiple delisting risks

INFINITY PHARMACEUTICALS, INC.

Nasdaq letter on Sep 5: MVPHS < $15M for prior 30 consecutive business days.
Company has 180 calendar days, until Mar 4, 2024, to regain compliance.
Already out of compliance with bid-price (Rule 5450(a)(1)) and MVLS (Rule 5450(b)(2)(A)) listing rules.
Existing appeal of prior delisting determination is pending before Nasdaq Panel.
Failure to cure MVPHS could lead to delisting or transfer to Nasdaq Capital Market.

Key facts

Extracted from this filing and checked against the source text.

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

INFINITY PHARMACEUTICALS, INC. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(C), 5810(c)(3)(D)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(C), 5810(c)(3)(D)

Exact text from the filing

September 5, 2023, Infinity Pharmaceuticals, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the listing of its common stock was not in compliance with Nasdaq Listing Rule 5450(b)(2)(C) (the “Minimum MVPHS Requirement”) for continued listing on The Nasdaq Global Select Market, as the market value of the Company’s publicly held shares was less than $15,000,000 for each of the previous 30 consecutive business days. In accordance with Nasdaq Listing Rule 5810(c)(3)(D

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Source: SEC EDGAR

accession 0001113148-23-000014

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