お知らせ • Aug 21
Genprex, Inc. Receives Non-Compliance Letter from Listing Qualifications Staff of the Nasdaq Stock Market
On August 19, 2025, Genprex, Inc. (Genprex" or the Company") received a letter from the Listing Qualifications Staff (the Staff") of The Nasdaq Stock Market LLC (Nasdaq") indicating that the Company was not in compliance with the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market, under Listing Rule 5550(b)(1) (the Minimum Stockholders' Equity Requirement"), because the Company's stockholders' equity of $1,391,195 as reported in the Company's Quarterly Report on Form 10-Q for the period ended June 30, 2025 was below the required minimum of $2.5 million, and because, as of August 19, 2025, the Company did not meet the alternative compliance standards relating to market value of listed securities or net income from continuing operations. The Staff indicated that this non-compliance with the Minimum Stockholders' Equity Requirement serves as additional and separate basis for delisting the Company's securities from Nasdaq. As previously disclosed, on August 12, 2025, the Company received a letter from Nasdaq indicating that, because the Company has not regained compliance with the $1.00 minimum bid price requirement set in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market (the Bid Price Requirement") and because of the Company's ineligibility for a second 180 calendar day compliance period, the Staff had determined to delist the Company's securities from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the Panel"). The Bid Price Requirement of the Nasdaq Listing Rules requires listed securities to maintain a minimum bid price of $1.00 per share and, as previously disclosed, on February 7, 2025, Nasdaq had notified the Company that based upon the closing bid price of the Company's common stock for the last 30 consecutive business days, the Company no longer met the Bid Price Requirement. In accordance with Listing Rule 5810(c)(3)(A), Nasdaq had provided us 180 calendar days, or until August 6, 2025, to regain compliance with the Bid Price Requirement. The Company did not regain compliance with the Bid Price Requirement during such 180 calendar day period and, because the Company does not meet Nasdaq's $5,000,000 minimum stockholders' equity initial listing requirement, the Staff determined that the Company was not eligible for an additional 180-day extension to meet the Bid Price Requirement. On August 19, 2025, the Company timely requested a hearing before the Panel. At the Panel hearing, the Company intends to request an extension within which to evidence compliance with the Bid Price Requirement and the Minimum Stockholders' Equity Requirement, to present its views with respect to these deficiencies, and to submit and present the Company's plan to regain compliance with all applicable requirements for continued listing on Nasdaq, including compliance with the Bid Price Requirement and the Minimum Stockholders' Equity Requirement. The Company's request for a hearing has stayed any suspension or delisting action by the Staff pending the hearing and the expiration of any additional extension period granted by the Panel following the hearing. The Company intends to continue to take definitive steps in an effort to evidence compliance with the Minimum Stockholders' Equity Requirement, the Bid Price Requirement, and the other Nasdaq listing requirements. However, there can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will be able to evidence compliance with the Minimum Stockholders' Equity Requirement, the Bid Price Requirement and other Nasdaq listing requirements within any extension period that may be granted by the Panel or that the Company will be able to maintain compliance with the other Nasdaq listing requirements. The Company, by filing this Form 8-K, discloses its receipt of the Letter from Nasdaq in accordance with Nasdaq Listing Rule 5810(b).