Evaxion Biotech A/S announced on November 13, 2024, that it received a delisting determination from Nasdaq Stock Market LLC. This determination followed the company's failure to regain compliance with Nasdaq's minimum stockholders' equity requirement by the November 4, 2024 deadline.
The company had previously received a deficiency letter on May 7, 2024, and had presented a plan to Nasdaq to regain compliance. Despite these efforts, the required increase in shareholder's equity was not fully achieved by the deadline.
Evaxion has appealed the delisting determination and requested a hearing on the matter, seeking another 180-day extension to comply with the equity requirement. The company stated its commitment to ensuring compliance and maintaining its Nasdaq listing.
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