HCW Biologics Inc. announced on December 23, 2024, that it received written notice from the Nasdaq Listing Qualifications Staff regarding its failure to regain compliance with continued listing requirements. The company's market value of listed securities (MVLS) closed below the $50,000,000 threshold for 30 consecutive business days ended June 17, 2024.
The compliance period for the MVLS Rule 5450(b)(3)(A) ended on December 16, 2024, and the company did not regain compliance. Consequently, Nasdaq notified HCW Biologics that its securities were subject to delisting.
The company plans to timely request a hearing before the Nasdaq Hearing Panel to appeal this determination. This request will stay any further delisting action pending the hearing and any potential extension granted by the Panel.
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