HCW Biologics Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on December 17, 2024, HCW Biologics Inc. (the “Company”) received written notice from the Listing Qualifications Staff (“Staff”) of The Nasdaq Stock Market LLC (“Nasdaq” or the “Exchange”) that its securities were subject to delisting from Nasdaq since the Company did not regain compliance with the $50,000,000 market value of listed securities (“MVLS”) threshold required for continued listing on The Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(3)(A) (the “MVLS Rule”). The Company made a timely request for a hearing before the Nasdaq Hearings Panel (the “Panel”) and was granted a hearing date on February 13, 2025.
As previously disclosed, on February 5, 2025, the Company received written notice from the Staff that its securities were subject to delisting from Nasdaq since the Company did not regain compliance with the requirement to maintain a minimum bid price of $1 per share, in accordance with Nasdaq Listing Rule 5810(c)(3)(A) (“Bid Price Rule”) and the requirement to maintain the minimum $15,000,000 market value of publicly held securities (“MVPHS”) threshold required for continued listing on The Nasdaq Global Market®under Nasdaq Listing Rule 5450(b)(2)C) (the “MVPHS Rule”).
On March 3, 2025, the Panel granted the Company an extension in which to regain compliance with all continued listing rules of The Nasdaq Capital Market. The Panel’s determination follows the Company’s hearing on February 13, 2025, at which the Panel considered the Company’s plan to regain compliance with the Bid Price Rule, the MVPHS Rule and the MVLS Rule, respectively. As a result of the extension, the Panel granted the Company’s request for continued listing on the Exchange, provided that the Company demonstrates compliance with the Bid Price Rule by April 25, 2025, and with all other Exchange continued listing rules as required by The Nasdaq Capital Market by June 15, 2025.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
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HCW BIOLOGICS INC. |
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Date: |
March 6, 2025 |
By: |
/s/ Hing C. Wong |
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Hing C. Wong, Founder and Chief Executive Officer |