Cellectar Biosciences Faces Delisting Notice
Ticker: CLRB · Form: 8-K · Filed: Jan 31, 2025 · CIK: 1279704
| Field | Detail |
|---|---|
| Company | Cellectar Biosciences, Inc. (CLRB) |
| Form Type | 8-K |
| Filed Date | Jan 31, 2025 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.00001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
Cellectar Biosciences got a notice about failing listing rules - stock might be delisted.
AI Summary
Cellectar Biosciences, Inc. filed an 8-K on January 31, 2025, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, and a transfer of listing. The earliest event reported was January 30, 2025. The company is incorporated in Delaware and its principal executive offices are located in Florham Park, NJ.
Why It Matters
This filing indicates potential issues with Cellectar Biosciences' continued listing on an exchange, which could impact its stock 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 stock trading and overall financial stability.
Key Players & Entities
- Cellectar Biosciences, Inc. (company) — Registrant
- January 30, 2025 (date) — Earliest event reported
- January 31, 2025 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- Florham Park, NJ (location) — Principal executive offices
FAQ
What specific listing rule or standard did Cellectar Biosciences fail to meet?
The filing does not specify the exact rule or standard that Cellectar Biosciences failed to meet, only that a notice has been issued.
What is the expected timeline for addressing the delisting concerns?
The filing does not provide a specific timeline for Cellectar Biosciences to address the concerns that led to the notice.
Has Cellectar Biosciences initiated a transfer of listing to another exchange?
The filing mentions a 'Transfer of Listing' as an item of information, but does not confirm if a transfer has been initiated or completed.
What are the potential consequences if Cellectar Biosciences cannot rectify the listing issue?
The primary consequence would be the delisting of the company's securities from the current exchange, which could severely impact trading and valuation.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 30, 2025.
Filing Stats: 682 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2025-01-31 16:30:26
Key Financial Figures
- $0.00001 — ch registered Common Stock, par value $0.00001 per share CLRB The Nasdaq Capital M
- $1.00 — nimum bid price for its common stock of $1.00 for continued listing. The notice does
Filing Documents
- tm255128d1_8k.htm (8-K) — 26KB
- 0001104659-25-008127.txt ( ) — 193KB
- clrb-20250130.xsd (EX-101.SCH) — 3KB
- clrb-20250130_lab.xml (EX-101.LAB) — 33KB
- clrb-20250130_pre.xml (EX-101.PRE) — 22KB
- tm255128d1_8k_htm.xml (XML) — 3KB
01
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On January 30, 2025, Cellectar Biosciences, Inc. (the "Company") received notice from Nasdaq which indicated that under Nasdaq Listing Rule 5550(a)(2), the Company is required to maintain a minimum bid price for its common stock of $1.00 for continued listing. The notice does not have any immediate impact on the listing of the Company's stock on the Nasdaq exchange. The Company's common stock remains listed on the Nasdaq Capital Market. In accordance with the Nasdaq Listing Rules, the Company has 180 calendar days, or until July 29, 2025, to regain compliance with the bid price requirement. In the event the Company does not regain compliance within 180 calendar days, the Company may be eligible for additional time. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If Nasdaq believes that the Company meets these requirements and can cure the deficiency, Nasdaq will inform the Company that it has been granted an additional 180 calendar days. There can be no assurance that the Company will attain compliance with continued listing requirements during any initial or extension period that Nasdaq may grant. If the Company is unable to regain compliance within any period granted by Nasdaq, then the result would be the issuance of a delisting determination. The Company would at that time have the option to request a hearing before a Nasdaq Hearings Panel to present its plan to regain compliance and to request a further extension period to regain compliance. The request for a hearing would stay any delistin
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. CELLECTAR BIOSCIENCES, INC. Date: January 31, 2025 By: /s/ Chad J. Kolean Name: Chad J. Kolean Title: Chief Financial Officer