HOOKIPA Pharma Receives Nasdaq Delisting Notice for Low Bid Price

TL;DR

**HOOKIPA got a delisting notice from Nasdaq for its stock trading below $1.00.**

AI Summary

HOOKIPA Pharma Inc. (NASDAQ: HOOK) announced on January 31, 2024, that it received a delisting notice from The Nasdaq Global Select Market because its common stock failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days. This is a significant concern for investors as it indicates the stock is under severe pressure and could eventually be delisted, potentially making it harder to trade and reducing its liquidity and appeal.

Why It Matters

This notice signals severe financial distress for HOOKIPA Pharma, potentially leading to the stock being delisted from Nasdaq, which would significantly reduce its liquidity and investor confidence.

Risk Assessment

Risk Level: high — The delisting notice indicates the company's stock is in severe distress, posing a high risk of further price decline and potential removal from a major exchange.

Analyst Insight

A smart investor would carefully evaluate HOOKIPA Pharma's plan to regain compliance and consider the high risk of further stock depreciation or delisting before making any investment decisions. Existing investors might consider reducing exposure.

Key Numbers

• $1.00 — Minimum Bid Price (The threshold HOOKIPA Pharma Inc. failed to maintain for 30 consecutive business days.)
• 30 — Consecutive Business Days (The period over which HOOKIPA Pharma Inc.'s stock traded below the minimum bid price.)

Key Players & Entities

• HOOKIPA Pharma Inc. (company) — the registrant receiving the delisting notice
• The Nasdaq Global Select Market (company) — the exchange from which HOOKIPA Pharma Inc. received a delisting notice
• $1.00 (dollar_amount) — the minimum bid price required by Nasdaq
• January 31, 2024 (date) — the date of the earliest event reported in the 8-K filing

Forward-Looking Statements

• HOOKIPA Pharma Inc. will likely implement a reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. (HOOKIPA Pharma Inc.) — medium confidence, target: Within the next 6 months
• The stock price of HOOKIPA Pharma Inc. will remain volatile and likely face further downward pressure due to delisting concerns. (HOOKIPA Pharma Inc.) — high confidence, target: Next 3 months

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common stock, $0.0001 HOOK The Nasdaq Global Select Market
• $1.00 b — Period"), to regain compliance with the $1.00 bid price requirement, as set forth in Na
• $1.00 — vidence a closing bid price of at least $1.00 per share for a minimum of 10 consecuti

Filing Documents

• tm244750d1_8k.htm (8-K) — 31KB
• 0001104659-24-008825.txt ( ) — 205KB
• hook-20240131.xsd (EX-101.SCH) — 3KB
• hook-20240131_lab.xml (EX-101.LAB) — 33KB
• hook-20240131_pre.xml (EX-101.PRE) — 22KB
• tm244750d1_8k_htm.xml (XML) — 4KB

01 Transfer of Listing

Item 3.01 Transfer of Listing. On January 31, 2024, HOOKIPA Pharma Inc. (the "Company") was notified by the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") that the Staff had granted the Company's request to transfer the listing of its common stock, par value $0.0001 per share (the "Common Stock"), from The Nasdaq Global Select Market tier to The Nasdaq Capital Market tier, as well as the Company's request for a second 180-calendar day period, or until July 29, 2024 (the "Second Compliance Period"), to regain compliance with the $1.00 bid price requirement, as set forth in Nasdaq Listing Rule 5550(a)(2). To regain compliance with such minimum price requirement, the Company must evidence a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. The transfer of the listing of the Company's Common Stock from The Nasdaq Global Select Market to The Nasdaq Capital Market will take effect with the open of business on February 1, 2024. The transfer is not expected to impact trading in the Company's Common Stock, which will continue to trade on Nasdaq under the symbol "HOOK." As previously announced, on August 3, 2023, the Staff notified the Company that the bid price for the Company's Common Stock had closed below $1.00 per share for 30 consecutive business days and, as a result, the Company no longer satisfied Nasdaq Listing Rule 5450(a)(1), the minimum bid price requirement applicable to The Nasdaq Global Select Market issuers. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was afforded an initial 180-calendar day grace period, through January 30, 2024, to regain compliance with the minimum bid price requirement. Issuers listed on The Nasdaq Global Select Market are not eligible for a second 180-day grace period under the Nasdaq Listing Rules. However, based upon the Company's compliance with the various criteria required under Nasdaq Listing Rule 5810(c)(3)(A)(ii) to obtain a second

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K and other related materials may contain a number of "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the Company's expectation about any or all of the following: (i) the timing and consequences of the Company's transfer of the listing of its Common Stock to The Nasdaq Capital Market, (ii) the intent and plan of the Company to regain compliance with the minimum bid price requirement, and (iii) the anticipated actions by the Staff and the Company's responses and their anticipated outcomes. Forward-looking "potential," "would" or similar expressions and the negative of those terms the Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Although the Company believes that such statements are based on reasonable assumptions, forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond the Company's control, you should not rely on these forward-looking statements as predictions of future events. These risks and uncertainties include, among others: outcomes of the Company's planned clinical trials and studies may not be favorable; that one or more of the Company's product candidate programs will not proceed as planned for technical, scientific or commercial reasons; availability and timing of results from preclinical studies and clinical trials; uncertainty about regulatory approval to conduct clinical trials or to market a

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 thereunto duly authorized. HOOKIPA Pharma Inc. Date: January 31, 2024 By: /s/ Joern Aldag Joern Aldag Chief Executive Officer (Principal Executive Officer)

View Full Filing

View this 8-K filing on SEC EDGAR