Kiromic Biopharma, Inc.: Nasdaq/NYSE listing notice — Kiromic BioPharma receives Nasdaq delisting notice for stockholders' equity deficiency

Kiromic Biopharma, Inc.

Nasdaq letter dated Nov 23, 2022: stockholders' equity $284,100 vs required $2.5M.
Also failed alternative standards: market value of listed securities ≥$35M or net income $500K.
Company has 45 days (by Jan 9, 2023) to submit a compliance plan; extension up to 180 days possible.
Common stock continues trading on Nasdaq under KRBP but subject to compliance.
Company seeking financing to regain compliance; no assurance of success.

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

Kiromic Biopharma, 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

November 23, 2022, Kiromic BioPharma, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on The Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000 (the “Stockholders’ Equity Requirement). In the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, the

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Source: SEC EDGAR

accession 0001558370-22-018277

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