Fresh Tracks Therapeutics, Inc.: Nasdaq/NYSE listing notice — Nasdaq to delist Fresh Tracks Therapeutics for being a public shell; company will appeal and pursue liquidation

Fresh Tracks Therapeutics, Inc.

Received Nasdaq delisting notice Oct 10; staff determined company is a public shell after discontinuing all clinical programs and terminating most employees.
Delisting scheduled for Oct 19 unless hearing requested; company will request hearing to stay suspension and delisting.
Also cited non-compliance with $1.00 minimum bid price rule and lack of independent board/audit/comp committee after board resignations.
Special meeting of stockholders set for Nov 16 to vote on plan of liquidation and dissolution; if approved, company will file certificate of dissolution.
Albert N. Marchio, II appointed sole director, CEO, and CFO effective Oct 2 after previous board resigned.

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

Fresh Tracks Therapeutics, Inc. received a nasdaq delisting notice notice regarding other (rules 5100).

Exchange: nasdaq
Notice: delisting notice
Rules: 5100

Exact text from the filing

mpany that because the closing bid price for the Company’s common stock listed on Nasdaq was below $1.00 per share for 30 consecutive business days, the Company did not comply with the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “Rule”). The Company initially had a period of 180 calendar days, or until October 23, 2023, to regain compliance with the Rule. However, because the Company’s common stock has not met the minimum bid requirement for continued listing, and the Company has not informed Nasdaq of its i

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Source: SEC EDGAR

accession 0001628280-23-034363

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