Aridis Pharmaceuticals, Inc.: Nasdaq/NYSE listing notice — Aridis receives additional Nasdaq delisting notice for late 10-K; also non-compliant on board composition

Aridis Pharmaceuticals, Inc.

Nasdaq issued second delisting basis for failure to file 2022 Form 10-K; hearing already set for May 4, 2023.
Company has until April 26, 2023 to request stay of suspension pending hearing; plans to do so.
Separate notice: board independence and audit committee rules violated due to Craig Gibbs resignation on March 27, 2023.
Cure period for board independence runs until next annual meeting or March 27, 2024, whichever earlier.
Company already facing delisting for failing to meet $35M minimum market value of listed securities requirement.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

Aridis Pharmaceuticals, Inc. received a nasdaq delisting notice notice regarding late filing (rules 5550(b)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: late filing
Rules: 5550(b)(2)

Exact text from the filing

April 19, 2023, Aridis Pharmaceuticals, Inc. (the “Company”) received written notice (the “ Notice ”) from the Nasdaq Stock Market, LLC (“ Nasdaq ”) indicating that Nasdaq had not received the Company’s Form 10-K for the year ended December 31, 2022 and this serves as an additional basis for delisting the Company’s securities from The Nasdaq Capital Market. Since the Company already has a hearing date of May 4, 2023 before the Hearings Panel for its failure to comply with the $35 million minimum market value of listed securities requirement under Listing Rule 5550(b)(2), the Company has until

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

Aridis Pharmaceuticals, Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605

Exact text from the filing

April 20, 2023, the Company received written notice from Nasdaq that due to the resignation of Craig Gibbs, Ph.D. from the Company’s board and audit committee on March 27, 2023, the Company no longer complies with Nasdaq’s independent director and audit committee requirements as set forth in Listing Rule 5605. Pursuant to Nasdaq’s cure period, the Company is required to regain compliance by the earlier of the Company’s next annual shareholders’ meeting or March 27, 2024 or if the next annual shareholders’ meeting is held before September 25, 2023, then the Company must evidence compliance no l

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Source: SEC EDGAR

accession 0001493152-23-013232

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