Molecular Templates, Inc.: Nasdaq/NYSE listing notice — Molecular Templates receives Nasdaq delisting notice for bid price non-compliance; plans hearing

Molecular Templates, Inc.

Received delisting notice on Feb 28, 2023 for continued non-compliance with Nasdaq minimum bid price rule.
Company failed to regain compliance by Feb 27, 2023 end of 180-day grace period.
Intends to request a hearing before Nasdaq Hearings Panel to stay delisting pending decision.
Plan to regain compliance may include a reverse stock split.
No assurance that Panel will grant extension or that listing will be continued.

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

Molecular Templates, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)

Exact text from the filing

February 28, 2023, the Company received notice (the “Notice”) from the Listing Qualifications Staff of Nasdaq that the Company’s securities would be subject to delisting due to the Company’s continued non-compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a) (the “Bid Price Rule”), unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”). The Notice also noted that the Company was not eligible for an automatic second 180 day grace period for the Bid Price Rule, as it does not comply with the stockholders’ equity initial li

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Source: SEC EDGAR

accession 0001193125-23-060021

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