Cyclacel Pharmaceuticals Faces Delisting Concerns

TL;DR

Cyclacel might get delisted, stock could tank.

AI Summary

Cyclacel Pharmaceuticals, Inc. has filed an 8-K report on December 12, 2024, indicating a notice of delisting or failure to meet continued listing standards. The earliest event reported is December 6, 2024. The company is incorporated in Delaware and its principal executive offices are located in Berkeley Heights, NJ.

Why It Matters

This filing signals potential delisting from a stock exchange, which could significantly impact the company's liquidity and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's continued trading and investor confidence.

Key Players & Entities

• Cyclacel Pharmaceuticals, Inc. (company) — Registrant
• December 6, 2024 (date) — Earliest event reported
• December 12, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• Berkeley Heights, NJ (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share CYCC The Nasdaq Stock Mark
• $1.00 — k did not meet the minimum bid price of $1.00 per share required by Nasdaq Listing Ru

Filing Documents

• tm2430847d1_8k.htm (8-K) — 28KB
• 0001104659-24-128022.txt ( ) — 242KB
• cycc-20241206.xsd (EX-101.SCH) — 3KB
• cycc-20241206_def.xml (EX-101.DEF) — 26KB
• cycc-20241206_lab.xml (EX-101.LAB) — 36KB
• cycc-20241206_pre.xml (EX-101.PRE) — 25KB
• tm2430847d1_8k_htm.xml (XML) — 5KB

01 Notice of Delisting or Failure to Satisfy a Continued

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On December 6, 2024, Cyclacel Pharmaceuticals, Inc. (the "Company") received a written notice from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, based upon the closing bid price of the Company's common stock, par value $0.001 per share, (the "Common Stock") for the last 30 consecutive business days, the Common Stock did not meet the minimum bid price of $1.00 per share required by Nasdaq Listing Rule 5550(a)(2), initiating an automatic 180 calendar-day grace period for the Company to regain compliance. The notice has no immediate effect on the listing or trading of the Company's Common Stock, and the Common Stock will continue to trade on the Nasdaq Stock Market under the symbol "CYCC." In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of the notification, or until June 4, 2025, to achieve compliance with the minimum bid price requirement. The Company will regain compliance with the minimum bid price requirement if at any time before June 4, 2025, the bid price for the Company's Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days. If the Company does not regain compliance within the allotted compliance period, including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Common Stock will be subject to delisting from the Nasdaq Capital Market. At such time, the Company may appeal the delisting determination to a hearings panel. The Company intends to continue to monitor the bid price levels for the Common Stock and will consider appropriate alternatives to achieve compliance within the initial 180 calendar-day compliance period, including, among other things, a potential reverse stock split. There can be no assurance, however, that the Company will be able to do so.

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 thereunto duly authorized. CYCLACEL PHARMACEUTICALS, INC. By: /s/ Paul McBarron Name: Paul McBarron Title: Executive Vice President-Finance, Chief Financial Officer and Chief Operating Officer Date: December 12, 2024

View Full Filing

View this 8-K filing on SEC EDGAR