PLx Pharma Winddown Corp.: Nasdaq/NYSE listing notice — PLx Pharma receives Nasdaq delisting notice; stock to be suspended April 13

PLx Pharma Winddown Corp.

Nasdaq notified PLx Pharma on April 4, 2023 that it failed to regain compliance with minimum bid price rule ($1.00) and is not eligible for second 180-day period.
Company's estimated pro-forma equity as of March 31, 2023 was below $5 million; also failed to file Form 10-K for FY2022.
Company will not appeal; trading suspension expected at opening on April 13, 2023, followed by delisting.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

PLx Pharma Winddown Corp. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

isting requirement of The Nasdaq Capital Market based on its burn rate of approximately $4.25 million per month. The April Notice also stated that the Company had not yet filed its Form 10-K for the period ended December 31, 2022, meaning that the Company no longer complies with Nasdaq Listing Rule 5250(c)(1). As a result, unless the Company requests an appeal of Nasdaq’s determination pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series, trading of the Company’s common stock will be suspended from The Nasdaq Capital Market at the opening of business on April 13, 2023, a

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Source: SEC EDGAR

accession 0001193805-23-000530

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