Unicycive Therapeutics Faces Delisting Concerns

TL;DR

Unicycive might get delisted, check their listing status ASAP.

AI Summary

Unicycive Therapeutics, Inc. filed an 8-K on July 15, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The company's principal executive offices are located at 4300 El Camino Real, Suite 210, Los Altos, CA 94022. The earliest event reported was on July 9, 2024.

Why It Matters

This filing indicates potential issues with Unicycive Therapeutics' compliance with stock exchange listing standards, which could lead to delisting and impact its stock's 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

• Unicycive Therapeutics, Inc. (company) — Registrant
• July 9, 2024 (date) — Earliest event reported
• July 15, 2024 (date) — Date of report
• 4300 El Camino Real, Suite 210, Los Altos, CA 94022 (address) — Principal executive offices

FAQ

Key Financial Figures

• $1.00 — ness days, had closed below the minimum $1.00 per share and, as a result, the Company
• $1.00 m — e Company is not in compliance with the $1.00 minimum bid price requirement for the con

Filing Documents

• ea0209297-8k_unicycive.htm (8-K) — 28KB
• 0001213900-24-061354.txt ( ) — 199KB
• uncy-20240709.xsd (EX-101.SCH) — 3KB
• uncy-20240709_lab.xml (EX-101.LAB) — 33KB
• uncy-20240709_pre.xml (EX-101.PRE) — 22KB
• ea0209297-8k_unicycive_htm.xml (XML) — 4KB

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

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 9, 2024, Unicycive Therapeutics, Inc. (the "Company") received written notice (the " Notice ") from the Nasdaq Stock Market, LLC (" Nasdaq ") indicating that the bid price for the Company's common stock (the "Common Stock"), for the last 30 consecutive business days, had closed below the minimum $1.00 per share and, as a result, the Company is not in compliance with the $1.00 minimum bid price requirement for the continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2). The Notice has no effect at this time of the Common Stock, which continues to trade on the Nasdaq Capital Market under the symbol "UNCY". In accordance with the Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until January 6, 2025, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this 180 day period. If the Company is not in compliance by January 6, 2025, the Company may qualify for a second 180 calendar day compliance period. If the Company does not qualify for, or fails to regain compliance during the second compliance period, then the Nasdaq will notify the Company of its determination to delist its Common Stock, at which point the Company would have an option to appeal the delisting determination to a Nasdaq hearings panel. The Company intends to actively monitor the closing bid price of its Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price under the Nasdaq Listing Rules. 1 SIGNATURE 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 authoriz

View Full Filing

View this 8-K filing on SEC EDGAR