Applied Molecular Transport Inc.: Nasdaq/NYSE listing notice — Nasdaq deems AMTI a 'public shell' and seeks delisting; company appeals

Applied Molecular Transport Inc.

On Aug 10, 2023, Nasdaq Staff notified AMTI it believes the company is a 'public shell' and listing is no longer warranted.
Also, AMTI failed to maintain minimum $1.00 bid price per Nasdaq Listing Rule 5450(a)(1).
Company disagrees with the 'public shell' determination, citing ongoing clinical, IP, and business development operations.
AMTI will appeal to Nasdaq Hearings Panel; delisting is stayed pending Panel decision.
No assurance of success in appeal; risk of delisting if compliance not regained.

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

Applied Molecular Transport Inc. received a nasdaq delisting notice notice regarding other (rules 5100, 5450(a)(1)).

Exchange: nasdaq
Notice: delisting notice
Rules: 5100, 5450(a)(1)

Exact text from the filing

August 10, 2023, Applied Molecular Transport Inc. (the “ Company ”) received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (the “ Staff ”) indicating that, in accordance with The Nasdaq Stock Market LLC’s (“ Nasdaq ”) Listing Rule 5100, the Staff believes the Company is a “public shell” and that the continued listing of the Company’s securities is no longer warranted. The Company disagrees with the Staff’s determination and intends to timely appeal the Staff’s determination to Nasdaq’s Hearings Panel (“ Panel ”), which will stay any delisting action by the Staff

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Source: SEC EDGAR

accession 0001193125-23-212350

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