VACCINEX, INC. (VCNX): Nasdaq/NYSE listing notice — Vaccinex receives Nasdaq notice for failing minimum equity requirement

VACCINEX, INC.

Nasdaq notice on April 11, 2024: Vaccinex lacks $2.5M minimum stockholders' equity for continued listing.
Company also fails alternative standards: market value of listed securities $35M or net income $500k.
Deadline to submit compliance plan is May 13, 2024; Nasdaq may grant extension if plan accepted.
No immediate delisting, but failure to regain compliance could lead to delisting of VCNX common stock.
Management evaluating options but cannot assure regaining or maintaining compliance.

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

VACCINEX, 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

April 11, 2024, Vaccinex, Inc. (the “Company”) received a letter (the “Notice”) from the Listing Qualifications staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that based on the financial statements contained in its Form 10-K for the year-ended December 31, 2023, the Company no longer complies with the requirement under Nasdaq Listing Rule 5550(b)(1) to maintain a minimum of $2.5 million in stockholders’ equity for continued listing on the Nasdaq Capital Market (the “Equity Standard”) or the alternative requirements of having a market value of listed securities of $35 million

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VACCINEX, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-094701

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