Achilles Therapeutics Gets 180-Day Extension After Nasdaq Market Transfer
Achilles Therapeutics has received approval to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective November 19, 2024. This transfer follows a May 17, 2024 notification from Nasdaq regarding non-compliance with the minimum bid price requirement of $1.00 per ADS. The company’s ADSs will continue trading under the symbol ACHL. The transfer provides an additional 180 calendar days to regain compliance with the minimum bid price requirement. The company must demonstrate a closing bid price of at least $1.00 per share for ten consecutive business days to regain compliance.
Achilles Therapeutics ha ricevuto l’approvazione per trasferire la sua quotazione dal Nasdaq Global Market al Nasdaq Capital Market, a partire dal 19 novembre 2024. Questo trasferimento segue una comunicazione del 17 maggio 2024 da parte di Nasdaq riguardante la non conformità al requisito del prezzo minimo di offerta di $1,00 per ADS. Gli ADS della società continueranno a essere scambiati con il simbolo ACHL. Il trasferimento fornisce ulteriori 180 giorni di calendario per ripristinare la conformità con il requisito del prezzo minimo di offerta. L’azienda deve dimostrare un prezzo di chiusura di almeno $1,00 per azione per dieci giorni lavorativi consecutivi per ristabilire la conformità.
Achilles Therapeutics ha recibido la aprobación para transferir su cotización del Nasdaq Global Market al Nasdaq Capital Market, efectivo a partir del 19 de noviembre de 2024. Esta transferencia sigue a una notificación del 17 de mayo de 2024 de Nasdaq sobre la no conformidad con el requisito de precio mínimo de oferta de $1.00 por ADS. Los ADS de la empresa continuarán cotizando bajo el símbolo ACHL. La transferencia proporciona 180 días calendario adicionales para recuperar la conformidad con el requisito de precio mínimo de oferta. La empresa debe demostrar un precio de cierre de al menos $1.00 por acción durante diez días hábiles consecutivos para recuperar la conformidad.
Achilles Therapeutics는 2024년 11월 19일부터 Nasdaq Global Market에서 Nasdaq Capital Market으로 상장 이전 승인을 받았습니다. 이 이전은 2024년 5월 17일 Nasdaq에서 $1.00의 최소 매도 가격 요건을 충족하지 못함에 대한 통보를 받은 후 이루어졌습니다. 회사의 ADS는 ACHL 기호로 계속 거래됩니다. 이번 이전은 최소 매도 가격 요건을 회복할 수 있는 추가 180일을 제공합니다. 회사는 최소 $1.00의 주가로 10일 연속으로 거래를 마감해야 요건을 충족할 수 있습니다.
Achilles Therapeutics a reçu l’approbation pour transférer sa cotation du Nasdaq Global Market vers le Nasdaq Capital Market, à compter du 19 novembre 2024. Ce transfert fait suite à une notification du 17 mai 2024 de la part de Nasdaq concernant le non-respect de l’exigence de prix d’offre minimum de 1,00 $ par ADS. Les ADS de la société continueront d’être négociés sous le symbole ACHL. Le transfert accorde 180 jours supplémentaires pour retrouver la conformité avec l’exigence de prix d’offre minimum. L’entreprise doit démontrer un prix de clôture d’au moins 1,00 $ par action pendant dix jours de bourse consécutifs pour retrouver la conformité.
Achilles Therapeutics hat die Genehmigung erhalten, seine Notierung vom Nasdaq Global Market auf den Nasdaq Capital Market zu übertragen, mit Wirkung zum 19. November 2024. Diese Übertragung folgt einer Mitteilung von Nasdaq vom 17. Mai 2024 über die Nichterfüllung der Mindestgebotsanforderung von $1,00 pro ADS. Die ADS des Unternehmens werden weiterhin unter dem Symbol ACHL gehandelt. Der Transfer gewährt zusätzliche 180 Kalendertage, um die Einhaltung der Mindestgebotsanforderung wiederherzustellen. Das Unternehmen muss einen Schlusskurs von mindestens $1,00 pro Aktie für zehn aufeinanderfolgende Handelstage nachweisen, um die Einhaltung wiederherzustellen.
Positive
- Transfer to Nasdaq Capital Market provides additional 180 days to resolve compliance issues
- Trading continues uninterrupted under same symbol
Negative
- Non-compliance with minimum bid price requirement ($1.00 per ADS)
- Risk of potential delisting if compliance is not achieved
- Stock price performance below regulatory requirements
Insights
The transfer from Nasdaq Global Market to Nasdaq Capital Market represents a significant development for Achilles Therapeutics, though not necessarily positive. This move is a common strategy for companies facing delisting risks due to non-compliance with the
With a market cap of just
LONDON, Nov. 19, 2024 (GLOBE NEWSWIRE) — Achilles Therapeutics plc (NASDAQ: ACHL) today announced that on November 15, 2024, the Listing Qualifications department of the Nasdaq Stock Market LLC (“Nasdaq”) approved the Company’s request to transfer the listing of the Company’s American Depositary Shares (the “ADSs”) from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer is expected to take effect at the opening of business on November 19, 2024.
The transfer of the Company’s listing to the Nasdaq Capital Market is not expected to have any impact on trading in the Company’s ADSs. The Company’s ADSs will continue to trade under the symbol “ACHL.” The approval by Nasdaq was conditioned upon the Company meeting the applicable market value requirement of publicly held shares for continued listing and all other applicable requirements for listing on the Nasdaq Capital Market.
As previously disclosed, on May 17, 2024, the Company received a letter from Nasdaq indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1), as the closing bid price of the ADSs had been below US
As a result of the transfer to the Nasdaq Capital Market, the Company will be eligible for an additional 180 calendar days to regain compliance with the requirements set forth in Nasdaq Listing Rule 5450(a)(1) that the bid price of the Company’s shares meet or exceed
The Company intends to continue to actively monitor the minimum bid price requirement and, as appropriate, will consider available options to resolve any deficiencies and regain compliance.
About Achilles Therapeutics
Achilles is a clinical-stage biopharmaceutical company that was developing AI-powered precision T cell therapies targeting clonal neoantigens: protein markers unique to the individual that are expressed on the surface of every cancer cell. Achilles uses DNA sequencing data from each patient, together with its proprietary PELEUSTM bioinformatics platform, to identify clonal neoantigens specific to that patient, to enable and support development of product candidates specifically targeting those clonal neoantigens.
Forward Looking Statements
This press release contains express or implied forward-looking statements that are based on the Company management’s belief and assumptions and on information currently available to the Company’s management. Forward-looking statements in this press release include, but are not limited to, statements regarding the Company’s clinical trials and the Company’s beliefs about its goals for the discontinued trials; expectations related to the Company’s cash runway and operating expenses and capital expense requirements; the Company’s ability to engage with third parties who are developing alternative modalities to target clonal neoantigens for the treatment of cancers and the Company’s review and evaluation of potential strategic options and their impact on stockholder value. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or the Company’s future operational or financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The forward-looking statements in this press release represent the Company’s views as of the date of this press release. We anticipate that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company has no current intention of doing so except to the extent required by applicable law. You should therefore not rely on these forward-looking statements as representing the Company’s views as of any date subsequent to the date of this press release.
For further information, please contact:
Meru Advisors
Lee M. Stern
[email protected]
FAQ
Why is Achilles Therapeutics (ACHL) moving to Nasdaq Capital Market?
Achilles Therapeutics is transferring to the Nasdaq Capital Market to gain additional time to regain compliance with the minimum bid price requirement of $1.00 per ADS after failing to meet this requirement on the Nasdaq Global Market.
When will ACHL’s transfer to Nasdaq Capital Market take effect?
The transfer of Achilles Therapeutics to the Nasdaq Capital Market is scheduled to take effect at the opening of business on November 19, 2024.
How long does ACHL have to regain compliance with minimum bid price?
Following the transfer, ACHL will have an additional 180 calendar days to regain compliance by maintaining a bid price of at least $1.00 per share for ten consecutive business days.
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