INFINITY PHARMACEUTICALS, INC.: Nasdaq/NYSE listing notice — Infinity Pharma receives second Nasdaq deficiency; market value below $50M

INFINITY PHARMACEUTICALS, INC.

Received April 4, 2023 letter: market value of listed securities below $50M for 30 consecutive days (Minimum MVLS Requirement).
Also non-compliant with total assets/revenue rule requiring at least $50M each for most recent fiscal year.
Has 180 days, until October 2, 2023, to regain compliance via $50M+ market value close for 10 consecutive days.
Already out of compliance with minimum $1.00 bid price rule since December 2022 (previously disclosed).
Failure to comply by Oct 2 could lead to delisting; may appeal or apply to 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 0.9

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

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(3)(A)

Exact text from the filing

April 4, 2023, Infinity Pharmaceuticals, Inc. (the “Company”) received a deficiency 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)(A) (the “Minimum MVLS Requirement”) for continued listing on the Nasdaq Global Select Market, as the market value of the Company’s listed securities was less than $50,000,000 for the previous 30 consecutive business days. The Staff also noted in its letter that the Company is not in compli

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Source: SEC EDGAR

accession 0001140361-23-017328

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