UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously reported, on May 22, 2024, Vincerx Pharma, Inc. (the “Company”) received written notice from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the closing bid price of the Company’s common stock for the prior 30 consecutive business days was lower than the minimum bid price requirement of $1.00 per share. The Company had 180 calendar days, or by November 18, 2024, to regain compliance with the minimum bid price requirement but could be eligible for an additional 180-day compliance period.
On November 14, 2024, the Company submitted a request to Nasdaq for an additional 180-day extension to regain compliance with the minimum bid price requirement.
On November 19, 2024, the Company received a letter from Nasdaq advising that the Company had been granted an additional 180-day extension, or until May 19, 2025, to regain compliance with the minimum bid price requirement.
The Company will continue to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options, including implementing a reverse stock split of its outstanding common stock, to regain compliance with the minimum bid price requirement. There can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement during this 180-day extension or meet the other continued listing requirements of The Nasdaq Capital Market. If the Company does not regain compliance within the additional compliance period, Nasdaq will provide notice that the Company’s common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel, although there can be no assurance that such an appeal would be successful.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: November 25, 2024
VINCERX PHARMA, INC. | ||
By: | /s/ Alexander A. Seelenberger | |
Name: | Alexander A. Seelenberger | |
Title: | Chief Financial Officer |
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