eFFECTOR Therapeutics, Inc.: Nasdaq/NYSE listing notice — eFFECTOR receives Nasdaq notice for stockholders' deficit; faces delisting risk

eFFECTOR Therapeutics, Inc.

Stockholders' deficit of $4.8M as of March 31, 2023; below $2.5M minimum required for continued listing.
Company also fails alternative compliance standards based on market value of securities or net income.
Must submit a plan to Nasdaq by July 3, 2023 to regain compliance; extension up to 180 days possible.
No immediate effect on trading; if plan rejected or non-compliance continues, securities may be delisted.

Key facts

Extracted from this filing and checked against the source text.

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

eFFECTOR Therapeutics, Inc. 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

May 17, 2023, eFFECTOR Therapeutics, Inc. (the “Company”) received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based on the Company’s stockholders’ deficit of $4.8 million as of March 31, 2023, as reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, it is not in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders’ equity of at le

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Source: SEC EDGAR

accession 0001193125-23-149500

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