Carisma Therapeutics Faces Delisting Notice

TL;DR

Carisma Therapeutics got a delisting warning. Big trouble ahead for the stock.

AI Summary

Carisma Therapeutics Inc. filed an 8-K on January 10, 2025, reporting a notice of delisting or failure to meet continued listing standards as of January 6, 2025. The company, formerly known as Sesen Bio, Inc. and Eleven Biotherapeutics, Inc., is incorporated in Delaware and headquartered in Philadelphia, PA.

Why It Matters

This filing indicates potential delisting from a stock exchange, which could significantly impact the liquidity and trading of Carisma Therapeutics' shares.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.

Key Players & Entities

• Carisma Therapeutics Inc. (company) — Registrant
• January 6, 2025 (date) — Earliest event reported
• January 10, 2025 (date) — Filing date
• Sesen Bio, Inc. (company) — Former company name
• Eleven Biotherapeutics, Inc. (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• Philadelphia, PA (location) — Business address

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value CARM The Nasdaq Stock Mar
• $1.00 — pany to maintain a minimum bid price of $1.00 per share. The Notice is only a notific

Filing Documents

• tm252702d1_8k.htm (8-K) — 27KB
• 0001104659-25-002522.txt ( ) — 198KB
• carm-20250106.xsd (EX-101.SCH) — 3KB
• carm-20250106_lab.xml (EX-101.LAB) — 33KB
• carm-20250106_pre.xml (EX-101.PRE) — 22KB
• tm252702d1_8k_htm.xml (XML) — 4KB

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 January 6, 2025, Carisma Therapeutics Inc. (the "Company") received written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, based upon the closing bid price of its common stock for the last 38 consecutive business days, the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Rule"), which requires the Company to maintain a minimum bid price of $1.00 per share. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company's securities on The Nasdaq Global Market under the symbol "CARM." The Notice states that the Company has 180 calendar days, or until July 7, 2025, to regain compliance with the Bid Price Rule. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days during the 180-day compliance period ending on July 7, 2025. If the Company does not regain compliance with the Bid Price Rule prior to the expiration of the 180 calendar day compliance period, the Company may be eligible for an additional 180 calendar day period to regain compliance. To qualify, the Company would need to transfer the listing of its common stock to The Nasdaq Capital Market, provided that it meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards of The Nasdaq Capital Market, with the exception of the Bid Price Rule. To effect such a transfer, the Company would also need to pay an application fee to Nasdaq and provide written notice of the Company's intention to cure the deficiency during the additional compliance period by effecting a reverse stock split, if necessary. As part of its review process, Nasdaq will ma

forward-looking statements can be identified by the use of words such as "believes," "expects," "intends,"

forward-looking statements can be identified by the use of words such as "believes," "expects," "intends," "plans," "estimates," "assumes," "may," "should," "will," "seeks," or other similar expressions. Such statements are subject to certain risks and uncertainties that may cause the Company's actual results to differ from the expectations expressed in the forward-looking statements. There can be no assurance that the Company will achieve such expectations, including regaining compliance with the Bid Price Rule during any compliance period or in the future, otherwise meeting Nasdaq compliance standards, being granted by Nasdaq any relief from delisting as necessary, or ultimately meeting applicable Nasdaq requirements for any such relief. The forward-looking statements contained in this report speak only as of the date of this report and the Company undertakes no obligation to publicly update any forward-looking statements to reflect changes in information, events or circumstances after the date of this report, unless required by law.

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. CARISMA THERAPEUTICS INC. Date: January 10, 2025 By: /s/ Steven Kelly Steven Kelly President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR