WILMINGTON, DE — Exicure Inc. (Nasdaq: XCUR) has until Dec. 2 to restore compliance with Nasdaq’s minimum stockholders’ equity requirement, giving the company additional time to address a listing deficiency that could ultimately put its common stock at risk of delisting.
Nasdaq’s Listing Qualifications Department granted the extension in a Sept. 10 letter, according to Exicure. The extension does not mean the company has regained compliance.
Nasdaq initially notified Exicure on June 5 that it had fallen below the $2.5 million minimum stockholders’ equity required under Listing Rule 5550(b)(1).
At the time, Exicure also failed to satisfy Nasdaq’s alternative continued-listing standards based on the market value of listed securities or net income from continuing operations.
Under the extension, Exicure must complete its compliance initiatives and publicly demonstrate that it satisfies the applicable stockholders’ equity requirement by Dec. 2.
Nasdaq will continue monitoring the company’s compliance, including through Exicure’s next periodic report.
Exicure said it intends to pursue its compliance initiatives during the extension period but cautioned that there is no assurance it will regain or maintain compliance with Nasdaq’s continued-listing requirements.
If Exicure fails to meet the terms of the extension, Nasdaq may issue a determination to delist the company’s common stock. Exicure would have the right to appeal such a determination to a Nasdaq Hearings Panel.
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