Verastem, Inc. (VSTM): Nasdaq/NYSE listing notice — Verastem receives Nasdaq deficiency notice; bid price below $1.00 for 30 days

Verastem, Inc.

Received deficiency letter on Nov 4, 2022 for failing minimum bid price of $1.00 per share for 30 consecutive business days.
Must regain compliance by May 3, 2023; eligible for additional 180-day period if met except bid price rule.
Company may consider reverse stock split to cure; no immediate effect on listing or trading under VSTM.
No assurance the company will regain compliance; delisting risk remains if not cured by deadline.

Key facts

Extracted from this filing and checked against the source text.

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

Verastem, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1), 5810(c)(3)(A)

Exact text from the filing

November 4, 2022, Verastem, Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock, par value $0.0001 per share (the “Common Stock”), had closed below the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Requirement”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A) (the “Complian

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Verastem, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-22-017024

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