Semnur Pharmaceuticals, Inc. (SMNR): Nasdaq/NYSE listing notice — Denali Capital receives Nasdaq deficiency notice for MVLS below $50M; 180 days to comply

Semnur Pharmaceuticals, Inc.

Nasdaq letter on Feb 22, 2024 cites MVLS below $50M for 30 consecutive days, violating Rule 5450(b)(2)(A).
Also flagged non-compliance with total assets/revenue test under Rule 5450(b)(3)(A).
Company has until Aug 20, 2024 to regain compliance by closing MVLS at or above $50M for 10 consecutive days.
If unable, may transfer to Nasdaq Capital Market or face delisting; appeal rights available.
Company will monitor MVLS and evaluate options; no assurance of regaining compliance.

Key facts

Extracted from this filing and checked against the source text.

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

Semnur Pharmaceuticals, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5450(b)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(3)(A)

Exact text from the filing

February 22, 2024, Denali Capital Acquisition Corp. (the “ Company ”) received a letter (the “ Letter ”) from the staff at Nasdaq notifying the Company that, for the 30 consecutive business days prior to the date of the Letter, the Company ’ s Minimum Value of Listed Securities (“ MVLS ”) was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A). The staff at Nasdaq also noted in the Letter that the Company is not in compliance with Nasdaq Listing Rule 5450(b)(3)(A), which requires listed companies to have tota

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Semnur Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-017542

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