Celularity Inc. Announces Receipt Of Nasdaq Notice Regarding Late Form 10-Q Filing
Portfolio Pulse from Benzinga Newsdesk
Celularity Inc. (NASDAQ:CELU) received a notice from Nasdaq for not filing its Q3 Form 10-Q on time, violating listing requirements. The company must submit a compliance plan by January 22, 2024, and regain compliance by May 20, 2024. Celularity is also not meeting Nasdaq's minimum bid price requirement and has until March 11, 2024, to comply, potentially through a reverse stock split. There's no assurance that Celularity will meet these requirements to maintain its listing.
November 24, 2023 | 6:16 pm
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Celularity Inc. is at risk of Nasdaq delisting due to late Q3 Form 10-Q filing and not meeting the minimum bid price requirement. The company must submit a compliance plan soon and may consider a reverse stock split to regain compliance.
The notice from Nasdaq regarding non-compliance due to the late filing of Form 10-Q and the minimum bid price requirement puts negative pressure on Celularity's stock. The potential need for a reverse stock split and the risk of delisting are likely to concern investors and could lead to a decrease in stock price in the short term.
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IMPORTANCE 90
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