CELLDEX THERAPEUTICS,INC. (NASDAQ:CLDX) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Ruleor Standard; Transfer of Listing.
On November27, 2018, Celldex Therapeutics,Inc. (the “Company”) received approval from the Nasdaq Listing Qualifications Department of The NASDAQ Stock Market (the “Listing Qualifications Department”) to transfer the listing of its common stock, par value $0.001 per share (the “Common Stock”) from the NASDAQ Global Market to the NASDAQ Capital Market. The Company’s Common Stock will continue to trade under the ticker CLDX. The transfer will become effective as of the opening of the NASDAQ Capital Market on Wednesday, November28, 2018 with trading on the NASDAQ Global Market continuing on Tuesday, November27, 2018.
As previously disclosed, on May29, 2018, the Company received a written notice from the Listing Qualifications Department indicating that the Company was not in compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule5450(a)(1). In connection with the transfer to the NASDAQ Capital Market, the Company has been granted an additional 180-day period in which to regain compliance with the $1.00 minimum bid price requirement set forth in Rule5450(a)(1), or, until May28, 2019. If necessary, the Company intends to implement a reverse stock split of its Common Stock in order to regain compliance with Nasdaq Listing Rule5450(a)(1), consistent with the prior approval by shareholders at the Company’s 2018 Annual Meeting.