Windtree Therapeutics, Inc. (WINT) Receives Nasdaq Listing Notification

November 18, 2016 9:18 AM EST
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Windtree Therapeutics, Inc. (NASDAQ: WINT) disclosed the following in a U.S. SEC filing on Friday:

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On November 16, 2016, Windtree Therapeutics, Inc. (the “Company”) received a written notice from the Listing Qualifications Department of The NASDAQ Stock Market (“Nasdaq”) notifying the Company that it has not met the terms of an extension granted by Nasdaq with regard to Listing Rule 5550(b)(1), which requires the Company to maintain a minimum stockholders’ equity of $2,500,000 (the “Stockholders’ Equity Requirement”) and as a result, the Company’s common stock will be subject to delisting from Nasdaq unless the Company requests a hearing before a Hearings Panel (the “Panel”) pursuant to the procedures set forth in Nasdaq Listing Rule 5800 Series.

The Company intends to timely request a hearing before the Panel, at which the Company will present its plan to achieve compliance with the continued listing requirements of The Nasdaq Capital Market. A hearing request will automatically stay the delisting of the Company’s common stock pending the issuance of the Panel’s decision following the hearing and the expiration of any extension period granted by the Panel. Under the Nasdaq Listing Rules, the Panel may, in its discretion, determine to continue the Company’s listing pursuant to an exception for a maximum of 180 calendar days from the date of the Nasdaq delisting notice, or through May 15, 2017.

There can be no assurance that the Panel will grant the Company an extension of time to achieve compliance with the Stockholders’ Equity Requirement. The Company disclaims any intention to update this Current Report on Form 8-K to disclose any action or response that the Company may decide to take after the filing of this report.

As previously disclosed in a Current Report on Form on 8-K filed with the Securities and Exchange Commission on May 23, 2016, on May 19, 2016, the Company received a written deficiency notice from Nasdaq notifying the Company that it was not in compliance with the Stockholders’ Equity Requirement for continued listing on Nasdaq. The Company was provided an extension period of 180 days from the date of the Notice, or until November 15, 2016, to regain compliance with the Stockholders’ Equity Requirement.



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