Intensity Therapeutics Faces Delisting Concerns

TL;DR

INTENSITY THERAPEUTICS (INTY) facing delisting, stock could be in trouble.

AI Summary

Intensity Therapeutics, Inc. filed an 8-K on April 18, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, incorporated in Delaware, is in the biological products sector and has its principal executive offices in Shelton, CT.

Why It Matters

This filing indicates potential issues with the company's stock exchange listing, which could impact its 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 continued trading on an exchange.

Key Players & Entities

• INTENSITY THERAPEUTICS, INC. (company) — Registrant
• April 18, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• Shelton, CT (location) — Address of Principal Executive Offices
• 001-41109 (identifier) — Commission File Number

FAQ

Key Financial Figures

• $0.0001 — nge on Which Registered: Common Stock, $0.0001 par value per share INTS The Nasdaq Sto

Filing Documents

• intensity-20240418.htm (8-K) — 26KB
• 0001567264-24-000003.txt ( ) — 155KB
• intensity-20240418.xsd (EX-101.SCH) — 2KB
• intensity-20240418_lab.xml (EX-101.LAB) — 23KB
• intensity-20240418_pre.xml (EX-101.PRE) — 13KB
• intensity-20240418_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to Satisfy a Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule or Standard; Transfer of Listing. On April 12, 2024, Daniel Donovan resigned from the Audit Committee of the Board of Directors (the "Board") of Intensity Therapeutics, Inc. (the "Company") prior to the Company entering into a non-material transaction with a service organization controlled by Mr. Donovan. Mr. Donovan remains on the Board and a member of the Board's Compensation Committee and Nominating and Corporate Governance Committee. The Company notified The Nasdaq Stock Market LLC ("Nasdaq") of Mr. Donovan's resignation. Pursuant to Nasdaq Listing Rule 5605(c)(2)(A), a listed company must have an audit committee of at least three members, each of whom must be an Independent Director as defined under Nasdaq Listing Rule 5605(a)(2) and meet the criteria for independence set forth in Rule 10A-3(b)(1) under the Securities Exchange Act of 1934, as amended (the "Exchange Act") (subject to the exemptions provided in Rule 10A-3(c) under the Exchange Act). With Mr. Donovan's resignation from the Audit Committee, the Audit Committee is currently comprised of only two members, each of whom meets the independence requirements set forth in Nasdaq Rule 5605(a)(2) and Rule 10A-3(b)(1) of the Exchange Act. As a result, on April 18, 2024, the Company received a letter (the "Letter") from Nasdaq notifying the Company that, as a result of the resignation of Daniel Donovan from the Audit Committee, the Company is not in compliance with Nasdaq's audit committee composition requirements as set forth in Nasdaq Listing Rule 5605. The Letter further provides that, pursuant to Nasdaq Listing Rule 5605(c)(4), the Company is entitled to a cure period to regain compliance with Nasdaq Listing Rule 5605, which cure period will expire the earlier of the Company's next annual stockholders' meeting or April 14, 2025; or if the next annual stockholders' meeting is held before October 9, 2024, then the cure period will expir

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. Dated: April 19, 2024 Intensity Therapeutics, Inc. By: /s/ Lewis H. Bender Name: Lewis H. Bender Title: Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR