Molecular Templates, Inc.: Nasdaq/NYSE listing notice — Molecular Templates to be delisted from Nasdaq on Dec 26 after being deemed a public shell; no appeal.

Molecular Templates, Inc.

Nasdaq notified Molecular Templates on Dec 16 it is a 'public shell'; delisting set for Dec 26; no appeal planned.
Additional delisting bases: failure to file Q3 2024 10-Q and bid price below $1 for 30 consecutive days.
Nasdaq terminated the 180-day compliance period for bid price deficiency under Rule 5101 discretion.
Company warns trading is highly speculative; has extremely limited resources to continue or wind down.

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

Molecular Templates, Inc. received a nasdaq delisting notice notice regarding other (rules 5101, 5250(c)(1)).

Exchange: nasdaq
Notice: delisting notice
Rules: 5101, 5250(c)(1)

Exact text from the filing

December 16, 2024, Molecular Templates, Inc. (the “Company”) received a notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, based upon Nasdaq’s review of the Company and pursuant to Nasdaq Listing Rule 5101, Nasdaq believes that the Company is a “public shell,” and that the continued listing of the Company’s securities is no longer warranted. Unless the Company timely requests an appeal, trading of the Company’s common stock will be suspended from trading on the Nasdaq Stock Market at the opening o

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Source: SEC EDGAR

accession 0001193125-24-282016

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