YIELD10 BIOSCIENCE,INC. (NASDAQ:YTEN) 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 Rule or Standard; Transfer of Listing.
In the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 11, 2017, the Company reported stockholders’ equity of $2,241,000 which is not in compliance with Nasdaq Marketplace Rule 5550(b)(1). This Rule requires listed companies to have a minimum stockholders’ equity of $2.5 million (the “Nasdaq Equity Requirement”). Subsequent to the end of the quarter ended June 30, 2017, on July 7, 2017, the Company completed an offering of its securities with net proceeds to the Company of approximately $2.0 million (the “Offering”). As a result of the receipt of the proceeds from the Offering, the Company believes that, as of the date of the filing of this Current Report on Form 8-K, it is in compliance with the Nasdaq Equity Requirement.
No assurance can be given that the Company will continue to satisfy the Nasdaq Equity Requirement or other applicable Nasdaq rules. Failure to maintain compliance with the Nasdaq continued listing requirements could lead to our common stock being delisted from the Nasdaq Capital Market. Such a delisting could have a material adverse effect on our stock price, trading volume and access to capital and could materially harm our business.
About YIELD10 BIOSCIENCE,INC. (NASDAQ:YTEN)
Yield10 Bioscience, Inc., formerly Metabolix, Inc., is an agricultural bioscience company. The Company is focused on developing disruptive technologies for step-change improvements in crop yield for food and feed crops to enhance global food security. By working on new approaches to improve fundamental elements of plant photosynthetic efficiency and optimizing carbon metabolism to direct more carbon to seed production, the Company is advancing several yield traits it has developed in crops, such as Camelina, canola, soybean and corn. The Company concentrates on technologies that enables it to improve carbon dioxide fixation efficiency in photosynthesis and its direction to and conversion into plant matter. The Company has an additional agricultural science facility with greenhouses in Saskatoon, Saskatchewan, Canada.
