ok missed that PR last evening.
Immune Pharmaceuticals Will Request an Appeal to Regain Compliance with Nasdaq's Minimum Bid Price Rule
6:11 pm ET January 9, 2017 (PR Newswire) Print
Immune Pharmaceuticals Inc. (Nasdaq: IMNP) ("Immune"), announced today that it intends to request a hearing before the Nasdaq Listing Qualifications Staff Panel to appeal a notification that Immune's securities are subject to delisting from The Nasdaq Capital Market ("Nasdaq"). Immune will present its plan at the upcoming hearing to regain compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).
On January 4, 2017, Immune received a letter from The Nasdaq Stock Market LLC Listing Qualifications Staff stating that they determined Immune's common stock has not maintained the $1.00 minimum bid requirement for continued listing on the Nasdaq. At the hearing, Immune will present its plan to regain compliance, which includes a discussion of ongoing business events, and will commit to effect a reverse stock split, if necessary.
Although there can be no assurance that the Nasdaq will grant Immune's request for continued listing on the Nasdaq Capital Market, the delisting proceedings will be stayed and Immune's common stock will continue to be listed on the Nasdaq pending resolution of the appeal.
For full disclosure please refer to the Company's report on Form 8-K, filed on January 9, 2017.
