Clene Inc. Faces Nasdaq Delisting Notice
Ticker: CLNN · Form: 8-K · Filed: Jul 26, 2024 · CIK: 1822791
| Field | Detail |
|---|---|
| Company | Clene Inc. (CLNN) |
| Form Type | 8-K |
| Filed Date | Jul 26, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $11.50, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, nasdaq
Related Tickers: CLNN
TL;DR
Nasdaq's coming for Clene's listing - they got a notice.
AI Summary
Clene Inc. announced on July 25, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating its options to regain compliance and avoid delisting.
Why It Matters
This notice suggests potential financial distress or operational challenges for Clene Inc., which could significantly impact its stock value and investor confidence.
Risk Assessment
Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq indicates a serious risk to the company's continued public trading status.
Key Players & Entities
- Clene Inc. (company) — Registrant
- Nasdaq Stock Market (company) — Exchange issuing notice
- July 25, 2024 (date) — Date of notice
FAQ
What specific continued listing rule did Clene Inc. fail to satisfy?
The filing states that Clene Inc. received a notice from the Nasdaq Stock Market indicating a failure to meet the requirements for continued listing on The Nasdaq Capital Market, but does not specify the exact rule violated.
What are Clene Inc.'s options to regain compliance with Nasdaq listing rules?
Clene Inc. is evaluating its options to regain compliance, which may include appealing the determination or taking actions to meet the required standards, though specific actions are not detailed in this filing.
What is the potential consequence if Clene Inc. cannot regain compliance?
If Clene Inc. cannot regain compliance with the listing requirements, its common stock may be delisted from The Nasdaq Capital Market.
When did Clene Inc. receive this notice?
Clene Inc. received the notice on July 25, 2024.
Has Clene Inc. previously been subject to delisting warnings?
This filing does not provide information on previous delisting warnings; it reports the current notice received on July 25, 2024.
Filing Stats: 462 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-07-26 17:00:01
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value CLNN The Nasdaq Capital M
- $11.50 — e-half of one share of Common Stock for $11.50 per share CLNNW The Nasdaq Capital
- $1.00 — ompany's common stock has been at least $1.00 per share or greater. Accordingly, the
Filing Documents
- clnn20240725_8k.htm (8-K) — 26KB
- 0001437749-24-023618.txt ( ) — 171KB
- clnn-20240725.xsd (EX-101.SCH) — 4KB
- clnn-20240725_def.xml (EX-101.DEF) — 13KB
- clnn-20240725_lab.xml (EX-101.LAB) — 17KB
- clnn-20240725_pre.xml (EX-101.PRE) — 13KB
- clnn20240725_8k_htm.xml (XML) — 5KB
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 July 25, 2024, Clene Inc. (the "Company") received a notice from the Nasdaq Stock Market LLC ("Nasdaq") that for the last 10 consecutive business days, from July 11, 2024 to July 24, 2024, the closing bid price of the Company's common stock has been at least $1.00 per share or greater. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) for continued listing on Nasdaq and this matter is now closed. 1
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. CLENE INC. Date: July 26, 2024 By: /s/ Robert Etherington Robert Etherington President and Chief Executive Officer 2