Entero Therapeutics Faces Delisting Notice

TL;DR

Entero Therapeutics (formerly First Wave BioPharma) got a notice about potentially being delisted.

AI Summary

Entero Therapeutics, Inc. filed an 8-K on September 11, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company was formerly known as First Wave BioPharma, Inc. and has undergone several name changes.

Why It Matters

This filing indicates potential issues with Entero Therapeutics' ability to remain listed on a stock exchange, which could significantly impact its stock value 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 operation as a publicly traded entity.

Key Players & Entities

• Entero Therapeutics, Inc. (company) — Registrant
• First Wave BioPharma, Inc. (company) — Former name of registrant
• September 6, 2024 (date) — Earliest event reported date
• September 11, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share ENTO Nasdaq Capital Marke
• $1.00 — ment to maintain a minimum bid price of $1.00 per share for continued listing on The

Filing Documents

• tm2423832d1_8k.htm (8-K) — 26KB
• 0001104659-24-098971.txt ( ) — 196KB
• fwbi-20240906.xsd (EX-101.SCH) — 3KB
• fwbi-20240906_lab.xml (EX-101.LAB) — 33KB
• fwbi-20240906_pre.xml (EX-101.PRE) — 22KB
• tm2423832d1_8k_htm.xml (XML) — 4KB

01

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 6, 2024, Entero Therapeutics, Inc. (the "Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, based upon the closing bid price of the Company's common stock, par value $0.0001 per share ("Common Stock"), for the last 30 consecutive business days, the Company is not currently in compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Notice"). The Notice has no immediate effect on the continued listing status of the Company's Common Stock on The Nasdaq Capital Market, and, therefore, the Company's listing remains fully effective. The Company is provided a compliance period of 180 calendar days from the date of the Notice, or until March 5, 2025, to regain compliance with the minimum closing bid requirement, pursuant to Nasdaq Listing Rule 5810(c)(3)(A). If at any time before March 5, 2025, the closing bid price of the Company's Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, subject to Nasdaq's discretion to extend this period pursuant to Nasdaq Listing Rule 5810(c)(3)(H), Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement, and the matter would be resolved. If the Company does not regain compliance during the compliance period ending March 5, 2025, then Nasdaq may grant the Company a second 180 calendar day period to regain compliance, provided the Company meets the continued listing requirement for market value of publicly-held shares and all other initial listing standards for The Nasdaq Capital Market, other than the minimum closing bid price requirement, and notifies Nasdaq of its intent to cure the deficiency. The Compa

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. Entero Therapeutics, Inc. September 11, 2024 By: /s/ James Sapirstein Name: James Sapirstein Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR