Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 17, 2023, HOOKIPA Pharma Inc. (the "Company") received a letter from
the Nasdaq Stock Market LLC ("Nasdaq") indicating that the closing bid price of
the Company's common stock was below $1.00 per share for 30 consecutive business
days, and that, therefore, the Company is not in compliance with Nasdaq Listing
Rule 5450(a)(1), which is the minimum bid price requirement for continued
listing on the Nasdaq Global Select Market.
The notice from Nasdaq has no immediate effect on the listing of the Company's
common stock, and the common stock will continue to be listed on the Nasdaq
Global Select Market under the symbol "HOOK".
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has automatically
been afforded a 180-calendar day period, or until July 17, 2023, to regain
compliance with the minimum bid price requirement. The continued listing
standard will be met if 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 during
the 180-calendar day period. If the Company is not in compliance by July 17,
2023, the Company may be afforded a second 180-calendar day period to regain
compliance if it meets certain requirements.
The Company intends to monitor the closing bid price of its common stock and is
currently evaluating its options for regaining compliance, which could include a
reverse stock split of the Company's common stock, pursuant to the authority
granted to the Company at the Annual Meeting of the Company's stockholders on
June 30, 2022.
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