Announcement • Feb 07
Rubius Therapeutics Receives Non-Compliance Letter from Nasdaq On February 6, 2023, Rubius Therapeutics, Inc. was notified by the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that, based upon the Company’s non-compliance with the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) as of January 23, 2023, and the Staff’s determination that the Company is a “public shell” as that term is defined in Nasdaq Listing Rule 5101, the Company would be delisted at the opening of business on February 15, 2023 unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the “Panel”) to address the deficiencies and present a plan to regain compliance. The Company plans to timely request a hearing before the Panel, which request will stay any further delisting action by the Staff at least pending the ultimate outcome of the hearing and the expiration of any extension that may be granted by the Panel. The Company’s common stock will remain listed and eligible for trading on Nasdaq at least pending the ultimate conclusion of the hearing process. As previously disclosed, on July 27, 2022, the Company received written notice from the Staff indicating that, based upon the closing bid price for the Company’s common stock for the previous 30 consecutive business days, the Company no longer satisfied the minimum bid price requirement for continued listing on The Nasdaq Global Select Market and, in accordance with the Nasdaq Listing Rules, was afforded a 180-calendar day grace period, through January 23, 2023 to regain compliance with the rule. The Company did not regain compliance with minimum bid price requirement by January 23, 2023 and, given the Staff’s separate determination that the Company is a public shell, the Staff did not grant the Company a second grace period to do so. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 7 experienced directors. No highly experienced directors. Member of Scientific Advisory Board Bob Langer is the most experienced director on the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Price Target Changed • Sep 13
Price target increased to US$7.63 Up from US$6.80, the current price target is an average from 4 analysts. New target price is 723% above last closing price of US$0.93. Stock is down 95% over the past year. The company is forecast to post a net loss per share of US$1.87 next year compared to a net loss per share of US$2.23 last year. 
