Atossa Therapeutics Faces Delisting, Plans Reverse Stock Split
Ticker: ATOS · Form: 8-K · Filed: Mar 18, 2024 · CIK: 1488039
| Field | Detail |
|---|---|
| Company | Atossa Therapeutics, INC. (ATOS) |
| Form Type | 8-K |
| Filed Date | Mar 18, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.18, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, reverse-stock-split, compliance
TL;DR
Nasdaq warning! Atossa's stock is too low, they're doing a reverse split to stay listed.
AI Summary
Atossa Therapeutics, Inc. filed an 8-K on March 18, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is addressing its compliance with Nasdaq's minimum bid price requirement, aiming to regain compliance by April 15, 2024, through a reverse stock split.
Why It Matters
This filing indicates Atossa Therapeutics is at risk of being delisted from Nasdaq, which could significantly impact its stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — The company is at risk of delisting from Nasdaq due to failing to meet the minimum bid price requirement.
Key Numbers
- N/A — Minimum Bid Price (The company is non-compliant with Nasdaq's minimum bid price rule.)
Key Players & Entities
- Atossa Therapeutics, Inc. (company) — Registrant
- Nasdaq (company) — Listing Exchange
- April 15, 2024 (date) — Compliance Deadline
FAQ
What is the specific reason Atossa Therapeutics received a delisting notice?
Atossa Therapeutics received a notice from Nasdaq because its stock has not met the minimum bid price requirement for continued listing.
What action is Atossa Therapeutics taking to regain compliance with Nasdaq listing rules?
Atossa Therapeutics plans to implement a reverse stock split to increase its per-share bid price and regain compliance.
What is the deadline for Atossa Therapeutics to regain compliance with Nasdaq's minimum bid price rule?
The company has until April 15, 2024, to regain compliance with the minimum bid price requirement.
What is the filing date of this 8-K report?
This Form 8-K was filed on March 18, 2024.
What was Atossa Therapeutics' former company name?
Atossa Therapeutics, Inc.'s former company name was Atossa Genetics Inc., with a name change effective March 25, 2010.
Filing Stats: 525 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-03-18 08:35:11
Key Financial Figures
- $0.18 — ge on which registered Common Stock , $0.18 par value ATOS The Nasdaq Capital M
- $1.00 — maintain a minimum closing bid price of $1.00 per share for 30 consecutive business d
Filing Documents
- atos-20240315.htm (8-K) — 40KB
- 0000950170-24-032535.txt ( ) — 152KB
- atos-20240315.xsd (EX-101.SCH) — 27KB
- atos-20240315_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 15, 2024, Atossa Therapeutics, Inc. (the "Company") received a letter from The Nasdaq Stock Market LLC ("Nasdaq") informing the Company that it had regained compliance with the minimum closing bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. As previously disclosed, on September 26, 2023, the Company was notified by Nasdaq that it was not in compliance with Nasdaq Listing Rule 5550(a)(2) because its common stock failed to maintain a minimum closing bid price of $1.00 per share for 30 consecutive business days. The Company was initially given until On March 25, 2024 to regain compliance. To regain compliance, the Company was required to maintain a minimum closing bid price of $1.00 per share for at least 10 consecutive trading days. This requirement was met on March 14, 2024. As a result, the Company's common stock will continue to be listed and traded on The Nasdaq Capital Market. * * *
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Atossa Therapeutics, Inc. Date: March 18, 2024 By: /s/ Heather Rees Heather Rees Senior Vice President, Finance & Accounting