Virpax Pharmaceuticals, Inc.: Nasdaq/NYSE listing notice — Virpax receives Nasdaq deficiency notice; equity of $1.93M below $2.5M minimum

Virpax Pharmaceuticals, Inc.

Nasdaq notified Virpax of non-compliance with Listing Rule 5550(b)(1); stockholders' equity was $1,934,321 as of Dec 31, 2023.
Company also fails alternative standards of $35M market value or $500K net income in last fiscal year.
Has 45 calendar days (by May 17, 2024) to submit a plan to regain compliance; extension of up to 180 days possible if plan accepted.
Non-compliance has no immediate effect on listing; hearing rights exist if plan rejected or fails.

Key facts

Extracted from this filing and checked against the source text.

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

Virpax Pharmaceuticals, 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 2, 2024, Virpax Pharmaceuticals, Inc. (the “Company”) received a letter (the “Notification Letter”) from The Nasdaq Stock Market (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(1) (the “Rule”) because the stockholders’ equity of the Company of $1,934,321 as of December 31, 2023, as reported in the Company’s Annual Report on Form 10-K filed with the SEC on March 26, 2024, was below the minimum requirement of $2,500,000. As of the date of this Current Report on Form 8-K, the Company does not have a market value of listed securities of $35 million

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Source: SEC EDGAR

accession 0001213900-24-029811

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