CONTRAFECT Corp: Nasdaq/NYSE listing notice — ContraFect receives Nasdaq bid-price deficiency; faces dual delisting risk

CONTRAFECT Corp

On Sep 21, 2023, Nasdaq staff notified ContraFect that bid price closed below $1.00 for 30 consecutive business days.
Company has 180 calendar days (until Mar 19, 2024) to regain compliance with Minimum Bid Price Requirement.
ContraFect is also contesting an earlier Nasdaq equity deficiency (Aug 15, 2023) and has a hearing pending.
If bid price fails to close at $1.00+ for 10 consecutive days by deadline, Nasdaq may delist; possible 180-day extension if eligible.
No assurance the company can regain compliance with either minimum stockholders' equity or minimum bid requirements.

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

August 15, 2023, ContraFect Corporation (the “Company”) was notified by the staff of The Nasdaq Stock Market (“Nasdaq”) that the Company did not meet the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1) (the “Minimum Stockholders’ Equity Requirement”) for continued listing on The Nasdaq Capital Market (the “Staff Determination”). The Company requested a hearing before a Nasdaq Hearings Panel (“Panel”) to appeal the Staff Determination, which stayed the suspension of trading and delisting of the Company’s common stock pending the conclusion of the hearing process. T

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

CONTRAFECT Corp received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

September 21, 2023, the Company was notified by the staff of Nasdaq (the “Staff Deficiency Letter”) that, for the last thirty consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until March 19, 2024, to regain compliance. The letter states that the Nasdaq staff will pr

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Source: SEC EDGAR

accession 0001193125-23-246808

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