Gain Therapeutics to be Delisted from Nasdaq

TL;DR

Nasdaq is kicking Gain Therapeutics off the exchange, effective July 17th. Stockholders beware.

AI Summary

Gain Therapeutics, Inc. announced on July 11, 2024, that it received a notice from the Nasdaq Stock Market indicating non-compliance with listing rules. The company has been notified that its common stock will be delisted from the Nasdaq Capital Market, effective July 17, 2024.

Why It Matters

This delisting will significantly impact the liquidity and accessibility of Gain Therapeutics' stock for investors, potentially leading to a substantial decrease in its market value.

Risk Assessment

Risk Level: high — Delisting from a major exchange like Nasdaq poses a significant risk to the company's ability to raise capital and maintain investor confidence.

Key Players & Entities

• Gain Therapeutics, Inc. (company) — The company filing the 8-K and subject to delisting.
• Nasdaq Stock Market (company) — The exchange that issued the delisting notice.
• Nasdaq Capital Market (company) — The specific market from which Gain Therapeutics' stock will be delisted.
• July 11, 2024 (date) — The date Gain Therapeutics received the non-compliance notice.
• July 17, 2024 (date) — The effective date of the delisting from Nasdaq.

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value GANX The NASDAQ Stock Marke
• $50 million — ities ("MVLS") was below the minimum of $50 million required for continued listing on The N

Filing Documents

• tm2419326d1_8k.htm (8-K) — 29KB
• 0001104659-24-079601.txt ( ) — 202KB
• ganx-20240711.xsd (EX-101.SCH) — 3KB
• ganx-20240711_lab.xml (EX-101.LAB) — 33KB
• ganx-20240711_pre.xml (EX-101.PRE) — 22KB
• tm2419326d1_8k_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy Continued Listing

Item 3.01 Notice of Delisting or Failure to Satisfy Continued Listing Rule or Standard; Transfer of Listing. On June 11, 2024, Gain Therapeutics, Inc. (the "Company") received a letter (the "MVLS Deficiency Notice") from the listing qualifications department staff (the "Staff") of The Nasdaq Stock Market ("Nasdaq") notifying the Company that that from May 8, 2024 to July 10, 2024, the Company's Market Value of Listed Securities ("MVLS") was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the "MVLS Requirement"). The MVLS Deficiency Notice has no immediate effect on the listing of the Company's common stock, and the Company's common stock continues to trade on the Nasdaq Global Market under the symbol "GANX." In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days from the date of the MVLS Deficiency Notice, or through January 7, 2025 (the "Compliance Date"), to regain compliance with respect to the MVLS Requirement. The MVLS Deficiency Notice states that if the Company's MVLS closed at $50 million or more for a minimum of ten consecutive business days during the compliance period ending on the Compliance Date, the Staff will provide written confirmation of compliance. If the Company does not regain compliance by the Compliance Date, Nasdaq will provide written notice to the Company that its securities are subject to delisting. At that time, the Company may appeal any such delisting determination. However, there can be no assurance that, if the Company receives a delisting notice from the Staff and appeals the delisting determination, such appeal would be successful. Alternatively, the Company may consider applying for transfer to The Nasdaq Capital Market (the "Capital Market"). The Company intends to actively monitor the Company's MVLS between now and the Compliance Date and will take all reasonable measures available to the Company to re

View Full Filing

View this 8-K filing on SEC EDGAR