Denali Capital Acquisition receives Nasdaq deficiency notice for non-compliance with listing rules

Semnur Pharmaceuticals, Inc.

Nasdaq notified Denali on Oct 2, 2024 of non-compliance with MVLS ($50M minimum) and Total Assets rules for Nasdaq Global Market.
Company has 180 days, until March 31, 2025, to regain compliance by meeting MVLS >= $50M for 10 consecutive business days.
No immediate delisting; securities continue trading on Nasdaq; management is evaluating options to regain compliance.
Failure to comply by deadline may result in a delisting notice with opportunity to appeal to a Nasdaq Hearing Panel.

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