SOLIGENIX, INC. (SNGX): Nasdaq/NYSE listing notice — Soligenix receives Nasdaq delisting notice; common stock may be suspended

SOLIGENIX, INC.

Nasdaq notified Soligenix on Dec 21, 2023, of failure to meet $1.00 minimum bid price rule.
Company ineligible for second 180-day cure period due to stockholders' equity of $4.22M (below $5M minimum).
Intends to request a hearing by Dec 28, 2023, to stay suspension pending panel decision.
Hearing expected within 45 days; company will present plan to regain compliance.
No immediate impact on listing; shares continue trading on Nasdaq under symbol SNGX.

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 delisting notice notice regarding minimum bid price (rules 5450(a)(1), 5810(c)(3)(A)).

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

Exact text from the filing

December 21, 2023, the Company received written notice (the “Notice”) from Nasdaq stating that the Company has not complied with the Minimum Bid Price Rule and is not eligible for a second 180 day period because the Company does not comply with the $5,000,000 minimum stockholders’ equity initial listing requirement for The Nasdaq Capital Market. In that regard, the Company’s Form 10-Q for the quarter ended September 30, 2023 reported stockholders’ equity of $4,221,155. As a result, the Notice indicated that the Company’s common stock would be suspended from trading on Nasdaq unless the Company

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SOLIGENIX, INC. filing history →

Source: SEC EDGAR

accession 0001558370-23-019993

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