Genprex (NASDAQ:GNPX) Receives Notice from Nasdaq Regarding Listing Compliance

Genprex, Inc. (the “Company”) received a notice from the Listing Qualifications Department of The Nasdaq Stock Market on November 19, 2024, indicating that the company was not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. This requirement is set forth in Nasdaq Listing Rule 5550(b)(1), with the Company’s stockholders’ equity as reported in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, falling below the required minimum of $2.5 million.

As of the date of the notice, the Company did not meet either of the alternative compliance standards related to market value of listed securities or net income from continuing operations. This notice does not have an immediate effect on the listing of the Company’s common stock on The Nasdaq Capital Market, and the listing remains in effect contingent upon compliance with other continued listing requirements and the Company’s efforts to regain compliance with the stockholders’ equity requirement.

Genprex has been granted a 45-day period from November 19, 2024, or until Friday, January 3, 2025, to submit a plan to Nasdaq to regain compliance with the stockholders’ equity requirement. If the plan is approved, Nasdaq may extend the deadline for up to 180 calendar days to provide evidence of compliance.

The Company is currently assessing various options to regain compliance and intends to submit a plan within the stipulated timeline. However, there is no guarantee that the plan will be accepted or that compliance can be achieved to maintain the listing on The Nasdaq Capital Market. Failure to submit a plan, non-approval of the plan, or inability to regain compliance within the extension period may lead to the delisting of the Company’s securities.

In the event of delisting, Genprex would have the opportunity to appeal the decision to a Nasdaq Hearings Panel, which could delay the delisting process. The Company’s Chief Executive Officer and Chief Financial Officer, Ryan Confer, signed the report on November 19, 2024, acknowledging the Company’s commitment to addressing the non-compliance issue.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Genprex’s 8K filing here.

Genprex Company Profile

Genprex, Inc, a clinical-stage gene therapy company, focuses on developing gene-based therapies for patients with cancer and diabetes in the United States. The company's lead product candidate is REQORSA (GPX-001), which is in preclinical trials to treat non-small cell lung cancer and small cell lung cancer; and GPX-002, which is in preclinical trials to treat type 1 and type 2 diabetes.