CONTRAFECT Corp: Nasdaq/NYSE listing notice — ContraFect receives Nasdaq delisting notice; trading suspended Nov 9 due to equity deficiency

CONTRAFECT Corp

Nasdaq Panel determined to delist CFRX common stock due to failure to meet $2.5M stockholders' equity requirement and no alternative compliance.
Trading suspension effective at opening on November 9, 2023.
Company has 15 days to request review by Listing Council; decision not yet made.
Stock expected to be eligible for OTC trading, but no assurance of admission.
Company previously disclosed non-compliance in August 2023; hearing did not reverse determination.

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 delisting notice notice regarding stockholders equity (rules 5550(b)(1)).

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

Exact text from the filing

November 7, 2023, the Company received a determination letter (the “Delisting Notification”) from the Nasdaq Hearings Advisor stating that the Panel has determined to delist the Company’s common stock, par value $0.0001 per share (the “Common Stock”) from the Nasdaq Capital Market, and Nasdaq will accordingly suspend trading in the Company’s Common Stock, effective at the opening of trading on November 9, 2023, because the Company has not demonstrated compliance with the Minimum Stockholders’ Equity Requirement, does not meet any of the alternative requirements under Nasdaq Listing Rule 5550(b

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Source: SEC EDGAR

accession 0001193125-23-273553

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