CONTRAFECT Corp: Nasdaq/NYSE listing notice — ContraFect gets Nasdaq deficiency letter; equity -$3.1M vs $2.5M minimum; bid price still deficient

CONTRAFECT Corp

Stockholders' equity as of Sept 30, 2022 was $(3.1M), below Nasdaq's $2.5M continued listing requirement.
Company has 45 days (until Jan 6, 2023) to submit a plan to regain compliance with Nasdaq Rule 5550(b)(1).
Prior bid price deficiency from Aug 25, 2022 (below $1.00 for 30 days) remains uncured.
If plan is accepted, Nasdaq may grant up to 180 days (to May 21, 2023) to show compliance.
No immediate effect on trading; company evaluating options but no assurance of regaining compliance.

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

CONTRAFECT Corp received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

a listed company’s stockholders’ equity be at least $2.5 million. As reported on its Form 10-Q, the Company’s stockholders’ equity as of September 30, 2022 was approximately $(3.1) million. The Nasdaq Staff Deficiency Letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market which currently trades

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Source: SEC EDGAR

accession 0001193125-22-292616

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