Cue Biopharma Faces Nasdaq Delisting

TL;DR

Nasdaq's kicking Cue Biopharma off the exchange for not hitting $1.00 bid price.

AI Summary

Cue Biopharma, Inc. filed an 8-K on August 15, 2024, to report its failure to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company was previously notified on July 25, 2024, that its stock had fallen below the $1.00 minimum bid price for 30 consecutive business days. Cue Biopharma is now subject to delisting procedures.

Why It Matters

This filing indicates a significant financial distress for Cue Biopharma, potentially impacting its ability to raise capital and its stock's liquidity.

Risk Assessment

Risk Level: high — Failure to meet listing requirements and potential delisting pose a severe risk to the company's operations and investor confidence.

Key Numbers

• $1.00 — Minimum Bid Price (Requirement for Nasdaq listing)

Key Players & Entities

• Cue Biopharma, Inc. (company) — Registrant
• Nasdaq Capital Market (company) — Listing Exchange
• August 15, 2024 (date) — Date of Report
• July 25, 2024 (date) — Date of Previous Notification
• $1.00 (dollar_amount) — Minimum Bid Price Requirement

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share CUE Nasdaq Capital Market
• $1.00 — Company's common stock had closed below $1.00 per share, which is the minimum bid pri

Filing Documents

• cue-20240815.htm (8-K) — 54KB
• 0000950170-24-098032.txt ( ) — 189KB
• cue-20240815.xsd (EX-101.SCH) — 44KB
• cue-20240815_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 August 15, 2024, Cue Biopharma, Inc. (the "Company") received a deficiency letter (the "Notice") from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market, LLC ("Nasdaq") notifying the Company that, for the last 30 consecutive business days, the bid price for the Company's common stock had closed below $1.00 per share, which is the minimum bid price required to maintain continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Requirement"). The Notice has no immediate effect on the listing of the Company's common stock. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has an initial period of 180 calendar days (which expires on February 11, 2025) to regain compliance with the Minimum Bid Requirement. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of 10 consecutive business days during this 180 calendar day period, at which time the Staff will provide written notification to the Company that it complies with the Minimum Bid Requirement, unless the Staff exercises its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H). If the Company does not regain compliance with the Minimum Bid Requirement during the initial 180 calendar day period, it may be eligible for an additional 180 calendar day compliance period. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Requirement, and will need to provide written notice to the Staff of its intention to cure the deficiency during the additional compliance period by effecting a reverse stock split, if necessary. However, if during the

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. Cue Biopharma, Inc. Date: August 16, 2024 By: /s/ Daniel R. Passeri Name: Daniel R. Passeri Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR