Summary by Moomoo AI
TransCode Therapeutics, Inc., a biotech company, has announced its intention to appeal a delisting notice from the Nasdaq Stock Market. The company received the notice on May 7, 2024, indicating that it had failed to comply with the Nasdaq's Minimum Bid Price Rule by not maintaining a minimum closing bid price of $1.00 per share. TransCode Therapeutics was given until May 6, 2024, to regain compliance but was unable to meet the requirement. Additionally, the company did not meet the $5,000,000 minimum stockholders' equity requirement for initial listing on The Nasdaq Capital Market. The company plans to request a hearing before a Nasdaq Hearings Panel by May 14, 2024, to address the deficiencies and present a plan to regain compliance. Until the hearing process concludes, the company's common stock will remain listed and eligible for trading on Nasdaq. However, there is no guarantee that TransCode Therapeutics will be able to regain compliance and avoid delisting.
