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Nasdaq notifies Alaunos Therapeutics of delisting due to $2.5M equity deficiency
TCRTAlaunos Therapeutics, Inc.
The Nasdaq Stock Market notified Alaunos Therapeutics that its common stock is subject to delisting for failing to maintain the required minimum stockholders' equity of $2,500,000 under Listing Rule 5550(b)(1). The company plans to request a hearing before the Nasdaq Hearings Panel to stay any further suspension or delisting action. Alaunos is exploring strategic alternatives and working with a financial advisor to complete transactions intended to regain compliance. There is no assurance that the panel will grant continued listing or that any transaction will be consummated. The company operates in the biotechnology sector, focusing on drug discovery.