SOLIGENIX, INC. (SNGX): Nasdaq/NYSE listing notice — Soligenix receives Nasdaq delisting notice for failure to meet $1.00 bid price rule

SOLIGENIX, INC.

Nasdaq notified Soligenix on Dec 20, 2022 that it failed to regain compliance with the Minimum Bid Price Rule by the Dec 19, 2022 deadline.
Company will request a hearing by Dec 27 to stay trading suspension; hearing expected within 45 days.
Also notified Nov 16, 2022 for non-compliance with $2.5M stockholders' equity requirement.
Board proposes reverse stock split (1-for-2 to 1-for-20) to regain compliance; preliminary proxy filed Dec 23.
Stock continues trading under SNGX while hearing is pending; no guarantee of regaining compliance.

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

SOLIGENIX, INC. received a nasdaq deficiency notice notice regarding stockholders equity.

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity

Exact text from the filing

November 16, 2022, Nasdaq notified us that we no longer complied with the continued listing requirement to maintain a minimum of $2,500,000 in stockholders’ equity nor did we meet the alternatives of market value of listed securities or net income from continuing operations. The Company was unable to regain compliance with Minimum Bid Price Rule prior to the expiration of the second 180 calendar day period. On December 20, 2022, the Company received written notice (the “Notice”) from Nasdaq stating that the Company has not complied with the Minimum Bid Price Rule. The Notice indicated that

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

SOLIGENIX, INC. received a nasdaq delisting notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

December 20, 2022, the Company received written notice (the “Notice”) from Nasdaq stating that the Company has not complied with the Minimum Bid Price Rule. The Notice indicated that the Company’s common stock would be suspended from trading on Nasdaq unless the Company requests a hearing before a hearings panel by December 27, 2022. The Company intends to timely request a hearing, which will stay any trading suspension of the Company’s common stock until completion of the Nasdaq hearing process and expiration of any additional extension period granted by the panel following the hearing. The

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SOLIGENIX, INC. filing history →

Source: SEC EDGAR

accession 0001558370-22-018968

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