Semnur Pharmaceuticals, Inc. (SMNR): Nasdaq/NYSE listing notice — Denali Capital receives Nasdaq delisting determination; must appeal by April 9 or face suspension

Semnur Pharmaceuticals, Inc.

On April 2, 2025, Nasdaq staff determined Denali failed to meet MVLS, total assets, and public float rules.
Company must appeal by April 9, 2025 to avoid delisting; if no appeal, trading suspended April 11, 2025.
Company expects to trade on OTC market after delisting; plans to remain a reporting company.
Delisting not expected to immediately impact planned business combination with Semnur Pharmaceuticals.

Key facts

Extracted from this filing and checked against the source text.

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

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

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

Exact text from the filing

April 2, 2025, the Company received a written letter from the Staff (the “ Staff’s Determination ”) stating that the Company has not regained compliance with the Listing Rules, and also that the Company is not in compliance with Nasdaq Listing Rule 5450(b)(2)(B) (the “ Public Float Rule ”), which requires the Company to maintain a minimum of 1,100,000 publicly held shares for continued listing. Consequently, the Staff determined that the Company’s securities will be delisted from The Nasdaq Global Market unless the Company requests an appeal of this determination by April 9, 2025. If the Compa

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Semnur Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-030048

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