GYRE THERAPEUTICS, INC. (GYRE): Nasdaq/NYSE listing notice — Catalyst Biosciences receives Nasdaq delisting notice for bid price and equity non-compliance; plans to appeal

GYRE THERAPEUTICS, INC.

Nasdaq notified Catalyst on May 2, 2023 that it failed to regain compliance with the $1.00 minimum bid price rule and is ineligible for a second 180-day period.
Company also remains deficient on Nasdaq's $2.5M minimum stockholders' equity requirement (Listing Rule 5550(b)(1)), an additional delisting basis.
Catalyst plans to timely request a hearing before the Nasdaq Hearings Panel to stay suspension of its common stock pending the process.
Company believes completion of the pending Business Combination Transaction with GNI Group entities and a reverse stock split will allow the combined company to meet initial listing requirements.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.82

GYRE THERAPEUTICS, INC. received a nasdaq deficiency notice notice regarding late filing (rules 5550(a)(2), 5550(b)(1)).

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

Exact text from the filing

that, because the closing bid price for the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company was not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Company was granted 180 calendar days, or until May 1, 2023, to regain compliance with the Minimum Bid Price Requirement. On May 2, 2023, the Company was notified by the Listing Qualifications Staff (the “Staff”) of Nasdaq that the Company did n

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GYRE THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001140361-23-023200

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