Vaxart Faces Potential Delisting
Ticker: VXRT · Form: 8-K · Filed: Jul 5, 2024 · CIK: 72444
| Field | Detail |
|---|---|
| Company | Vaxart, Inc. (VXRT) |
| Form Type | 8-K |
| Filed Date | Jul 5, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $1.00 M, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, compliance
Related Tickers: VXRT
TL;DR
Vaxart might get kicked off Nasdaq, big trouble.
AI Summary
Vaxart, Inc. filed an 8-K on July 5, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates potential issues with meeting Nasdaq's continued listing requirements, which could lead to the transfer or delisting of its securities.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could significantly impact investor confidence and the liquidity of Vaxart's stock.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards indicates significant financial or operational challenges that could lead to the stock being removed from a major exchange.
Key Players & Entities
- Vaxart, Inc. (company) — Registrant
- Nasdaq (company) — Exchange where Vaxart's securities are listed
- July 2, 2024 (date) — Earliest event reported date
- July 5, 2024 (date) — Filing date
FAQ
What specific listing rule or standard has Vaxart, Inc. failed to meet?
The filing does not specify the exact rule or standard that Vaxart has failed to meet, only that it has received a notice regarding such failure.
What is the potential consequence of failing to meet the listing standards?
The potential consequence is the delisting of Vaxart's securities from the exchange or a transfer of listing.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated July 2, 2024.
What is Vaxart, Inc.'s primary business?
Vaxart, Inc. is in the business of Biological Products (no diagnostic substances).
Has Vaxart, Inc. had previous names?
Yes, Vaxart, Inc. was formerly known as Aviragen Therapeutics, Inc., Biota Pharmaceuticals, Inc., and NABI BIOPHARMACEUTICALS.
Filing Stats: 856 words · 3 min read · ~3 pages · Grade level 13.7 · Accepted 2024-07-05 16:16:36
Key Financial Figures
- $0.0001 — nge on which registered Common Stock , $0.0001 par value VXRT The Nasdaq Capital M
- $1.00 M — e Company is not in compliance with the $1.00 Minimum Bid Price requirement set forth i
- $1.00 — ties to maintain a minimum bid price of $1.00 per share, and, based upon the closing
Filing Documents
- vxrt20240703_8k.htm (8-K) — 26KB
- 0001437749-24-022250.txt ( ) — 155KB
- vxrt-20240702.xsd (EX-101.SCH) — 3KB
- vxrt-20240702_def.xml (EX-101.DEF) — 11KB
- vxrt-20240702_lab.xml (EX-101.LAB) — 15KB
- vxrt-20240702_pre.xml (EX-101.PRE) — 11KB
- vxrt20240703_8k_htm.xml (XML) — 3KB
01
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 2, 2024, Vaxart, Inc. (the "Company") received a written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") indicating that the Company is not in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the "Bid Price Requirement"). The Notice does not result in the immediate delisting of the Company's common stock from The Nasdaq Capital Market. The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share, and, based upon the closing bid price of the Company's common stock for the 30 consecutive business days for the period of May 17, 2024 through July 1, 2024, the Company no longer meets this requirement. The Notice indicated that the Company will be provided 180 calendar days, or until December 30, 2024, in which to regain compliance, pursuant to Nasdaq Listing Rule 5810(c)(3)(A). If at any time during this 180 calendar day period the closing bid price of the Company's common stock is at least $1.00 per share for a minimum of ten consecutive business days, the Nasdaq staff (the "Staff") stated that it will provide the Company with a written confirmation of compliance and the matter will be closed. However, under Nasdaq Listing Rule 5810(c)(3)(A), the Staff may exercise its discretion to extend this ten day period as discussed in Rule 5810(c)(3)(H). Alternatively, if the Company fails to regain compliance with Rule 5550(a)(2) prior to the expiration of the initial 180 calendar day period, the Company may be eligible for an additional 180 calendar day compliance period, provided that the Company (i) meets the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capit
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VAXART, INC. Dated: July 5, 2024 By: /s/ Steven Lo Steven Lo President and Chief Executive Officer