Announcement • Dec 04
TRACON Pharmaceuticals, Inc. Common Stock to Be Deleted from OTC Equity TRACON Pharmaceuticals, Inc. Common Stock will be deleted from OTC Equity effective December 03, 2024, due to Charter Cancelled /Dissolution. Announcement • Nov 08
TRACON Pharmaceuticals Files Form 15 TRACON Pharmaceuticals, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.001 per share. Announcement • Jul 17
TRACON Pharmaceuticals Notifies Nasdaq of its Withdrawal of the Appeal As previously disclosed, on June 11, 2024, TRACON Pharmaceuticals, Inc. received a determination letter from Nasdaq stating that the Nasdaq Hearings Panel has determined to delist the Company’s common stock, par value $0.001 per share, from the Nasdaq Stock Market LLC, pending a request for a review of the Panel’s delisting determination. As a result, the Company began trading on OTCQB Venture Market as of June 28, 2024 and requested a review of the Panel’s decision. On July 10, 2024, the Company notified Nasdaq of its withdrawal of the appeal and has requested that Nasdaq file with the SEC a Notification of Removal from Listing and/or Registration on Form 25 to delist and deregister the Company’s common stock under Section 12(b) of the Securities Exchange Act of 1934, as amended. On July 12, 2024, Nasdaq notified the Company that it will delist the Company’s common stock on July 16, 2024 and will file a Form 25. The delisting of the common stock from Nasdaq will be effective 10 days after the filing of the Form 25. Announcement • Jun 15
The Nasdaq Hearings Panel Determines to Delist TRACON Pharmaceuticals' Common Stock from Nasdaq Due to Non-Compliance with Continued Listing Requirements by June 3, 2024 As previously disclosed by TRACON Pharmaceuticals, Inc. (the ‘Company’), pursuant to its Current Report on Form 8-K filed with the Securities and Exchange Commission (the ‘SEC’) on April 10, 2024, on March 20, 2024, the Nasdaq Hearings Panel (the ‘Panel’) granted the Company’s request for continued listing on The Nasdaq Capital Market (‘Nasdaq’), subject to the Company regaining compliance with all applicable continued listing requirements, including Nasdaq’s minimum bid price requirement set in Nasdaq Listing Rule 5550(a)(2) and the market value of listed securities requirement under Nasdaq Listing Rule 5550(b)(2) (or other applicable financial and liquidity standard), on or before June 3, 2024. On June 11, 2024, the Company received a determination letter (the ‘Delisting Notification’) from Nasdaq stating that the Panel has determined to delist the Company’s common stock, par value $0.001 per share (the ‘Common Stock’), from Nasdaq, and Nasdaq will accordingly suspend trading in the Company’s Common Stock, effective at the opening of business on June 13, 2024, because the Company did not demonstrate compliance with such continued listing requirements by June 3, 2024. Nasdaq will complete the delisting by filing a Form 25 Notification of Delisting with the SEC, after applicable appeal periods have lapsed, which will remove the Company’s securities from listing and registration on Nasdaq. Pursuant to the Delisting Notification, the Company has a period of 15 days from the date of the Delisting Notification to submit a written request for a review of the Panel’s delisting determination by the Nasdaq Listing and Hearing Review Council (the ‘Listing Council’). The Company intends to timely request a review by the Listing Council of the Panel’s delisting determination. Notwithstanding, the Company’s request for a review will not stay the decision of the Panel. Accordingly, the Company anticipates that, effective June 13, 2024, its Common Stock will commence trading on the OTCQB Venture Market under the symbol ‘TCON.’ The Company plans to continue to make all required SEC filings, including those on Forms 10-K, 10-Q and 8-K, and will remain subject to all SEC rules and regulations applicable to reporting companies under the Securities Exchange Act of 1934, as amended. Announcement • Jun 12
TRACON Pharmaceuticals Receives Notice from Nasdaq Regarding Non-Compliance with the Market Value Rule and Minimum Bid Price Requirement On June 8, 2023, TRACON Pharmaceuticals, Inc. received letters (the ‘Notices’) from the Listing Qualifications staff (the ‘Staff’) of the Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that (i) for 30 consecutive business days preceding the date of the Notices, the market value of the Company’s common stock was less than $35.0 million, which does not meet the requirement for continued listing on the Nasdaq Capital Market, as required by Nasdaq Listing Rule 5550(b)(2) (the ‘Market Value Rule’), and (ii) for 30 consecutive business days preceding the date of the Notices, the closing bid price of the Company’s common stock was below $1.00 per share, which is the minimum required closing bid price for continued listing on the Nasdaq Capital Market pursuant to Listing Rule 5550(a)(2) (the ‘Minimum Bid Price Requirement’). The Notices do not result in the delisting of the Company’s common stock at this time, and the Company’s common stock continues to trade on the Nasdaq Capital Market under the symbol ‘TCON.’ In accordance with Nasdaq Listing Rule 5810(c)(3)(C) and Nasdaq Listing Rule 5810(c)(3)(A), Nasdaq has provided the Company with 180 calendar days, or until December 5, 2023, to regain compliance with the Market Value Rule and the Minimum Bid Price Requirement in the manner described below. If the Company regains compliance with the Market Value Rule and the Minimum Bid Price Requirement, Nasdaq will provide written confirmation to the Company and close the matter. To regain compliance with the Market Value Rule, the market value of the Company’s common stock must meet or exceed $35.0 million for a minimum of ten consecutive business days during the 180-day grace period ending on or before December 5, 2023, unless the Staff exercises its discretion to extend this ten consecutive business day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H). The Company could also regain compliance with Nasdaq’s alternative continued listing requirements by having stockholders’ equity of at least $2.5 million, or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years. In the event the Company does not regain compliance with the Market Value Rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel. To regain compliance with the Minimum Bid Price Requirement, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of ten consecutive business days during the 180-day grace period ending on or before December 5, 2023, unless the Staff exercises its discretion to extend this ten consecutive business day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H). If the Company does not regain compliance by December 5, 2023, the Company may be eligible for an additional 180-day period to regain compliance if it meets the continued listing requirement under the Market Value Rule and all other initial listing standards, with the exception of the Minimum Bid Price Requirement, and provides written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. However, if it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company does not meet the other listing standards, Nasdaq could provide notice that the Company’s common stock will become subject to delisting. In the event the Company receives notice that its common stock is being delisted, Nasdaq rules permit the Company to appeal any delisting determination by the Nasdaq staff to a Hearings Panel. The Company is presently evaluating potential actions to regain compliance with all applicable requirements for continued listing on the Nasdaq Capital Market. There can be no assurance that the Company will be successful in maintaining its listing of its common stock on the Nasdaq Capital Market. Announcement • Jan 02
TRACON Pharmaceuticals Receives A Letter from Nasdaq Regarding Market Value Rule On December 30, 2022, TRACON Pharmaceuticals, Inc. ("the Company") received a letter ("the Notice") from the Listing Qualifications staff ("the Staff") of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the last 30 consecutive business days prior to the date of the Notice, the market value of the Company's common stock was less than $35.0 million, which does not meet the requirement for continued listing on the Nasdaq Capital Market, as required by Nasdaq Listing Rule 5550(b)(2) (the Market Value Rule"). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq has provided the Company with 180 calendar days, or until June 28, 2023, to regain compliance with the Market Value Rule. If the Company regains compliance with the Market Value Rule, Nasdaq will provide written confirmation to the Company and close the matter. The Notice does not result in the delisting of the Company's common stock from the Nasdaq Capital Market. To regain compliance with the Market Value Rule, the market value of the Company's common stock must meet or exceed $35.0 million for a minimum of ten consecutive business days during the 180-day grace period ending on or before June 28, 2023, unless the Staff exercises its discretion to extend this ten consecutive business day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H). The Company could also regain compliance with Nasdaq's alternative continued listing requirements by having stockholders' equity of at least $2.5 million, or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years. In the event the Company does not regain compliance with the Market Value Rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Company is presently evaluating potential actions to regain compliance with all applicable requirements for continued listing on the Nasdaq Capital Market. There can be no assurance that the Company will be successful in maintaining its listing of its common stock on the Nasdaq Capital Market.