Close

UPDATE: Statera Biopharma (STAB) Receives Nasdaq Delisting Decision, Scheduled Hearing for October 6

September 27, 2022 11:29 AM EDT

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - September 27, 2022 12:25 PM EDT)

On September 22, 2022, Statera Biopharma (NASDAQ: STAB) received notice from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company’s continued non-compliance with the minimum bid price requirement, as set forth in Nasdaq Listing Rule 5550(a)(1), could serve as an additional basis for the delisting of the Company’s securities from Nasdaq.

As disclosed by the Company’s Current Report on Form 8-K as filed with the Securities and Exchange Commission on September 9, 2022, on September 1, 2022, the Staff notified the Company that the Staff had determined to delist the Company’s securities based upon the Company’s non-compliance with the filing requirement set forth in Nasdaq Listing Rule 5250(c)(1). In response thereto, the Company requested and was granted a hearing before the Nasdaq Hearings Panel (the “Panel”), which hearing will be held on October 6, 2022, with the Panel subsequently granting a further stay of any suspension or delisting action by the Staff at least pending completion of the hearing and the expiration of any extension that may be granted to the Company by the Panel following the hearing.

At the hearing, the Company will present its plan to regain compliance with the minimum bid price requirement and all other applicable requirements for continued listing on Nasdaq along with its request for a specific period of time to do so. There can be no assurance, however, that the Panel will determine to continue the Company’s listing or that the Company will be able to evidence compliance with the applicable listing criteria within any extension period that may be granted by the Panel



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Hot Corp. News, Trading Halts