I-Mab Announces Receipt Of Nasdaq Deficiency Notice Regarding Minimum Bid Price Requirement
Rhea-AI Summary
I-Mab (NASDAQ: IMAB) has received a deficiency notice from Nasdaq on March 19, 2025, for failing to meet the minimum bid price requirement of $1.00. The notice comes after the company's stock traded below this threshold from February 3 to March 18, 2025.
The company has been granted a 180-day compliance period until September 15, 2025, during which it must achieve a closing bid price of at least $1.00 for ten consecutive business days to maintain its Nasdaq Global Market listing. If unsuccessful, I-Mab may be eligible for an additional 180-day extension or face potential delisting.
While the notice does not immediately affect I-Mab's listing status, business operations, or SEC reporting requirements, the company is evaluating options to regain compliance and has expressed its intention to resolve the deficiency within the given timeframe.
Positive
- 180-day compliance period granted until September 15, 2025
- Possibility of additional 180-day extension if initial compliance period fails
- Business operations and SEC reporting requirements remain unaffected
Negative
- Stock trading below $1.00 minimum requirement, risking potential Nasdaq delisting
- Company faces significant share price recovery challenge to maintain listing
- No concrete plan announced to address the price deficiency
News Market Reaction
On the day this news was published, IMAB gained 2.02%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
ROCKVILLE, Md., March 21, 2025 (GLOBE NEWSWIRE) -- I-Mab (NASDAQ: IMAB) (“I-Mab” or the “Company”), announced today that on March 19, 2025 it received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with the
The Notice states that under Listing Rule 5810(c)(3)(A) the Company is provided with a period of 180 calendar days, or until September 15, 2025, to regain compliance with the Listing Rules. To regain compliance with the Listing Rules, the closing bid price of the Company’s ADSs must meet or exceed
The Company intends to continue to monitor the closing bid price of its ADSs between now and September 15, 2025. The Company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. Although the Company will use all reasonable efforts to achieve compliance with the Minimum Bid Requirement, there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirements. If it appears that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company’s securities will be subject to delisting.
The Company fully intends to resolve the deficiency and regain compliance with the Listing Rules.
About I-Mab
I-Mab (NASDAQ: IMAB) is a US-based, global biotech company, focused on the development of precision immuno-oncology agents for the treatment of cancer. I-Mab has established operations in Rockville, Maryland, and Short Hills, New Jersey. For more information, please visit https://www.i-mabbiopharma.com and follow us on LinkedIn and X.
I-Mab Forward Looking Statements
This release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “believes”, “designed to”, “anticipates”, “future”, “intends”, “plans”, “potential”, “estimates”, “confident”, and similar terms or the negative thereof. I-Mab may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about I-Mab’s beliefs and expectations, are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the Company’s intention to resolve the deficiency and regain compliance with the Nasdaq Listing Rules. Forward-looking statements involve inherent risks and uncertainties that may cause actual results to differ materially from those contained in these forward-looking statements, including but not limited to the following: I-Mab’s ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may or may not support further development or New Drug Application/Biologics License Application (NDA/BLA) approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of I-Mab’s drug candidates; I-Mab’s ability to achieve commercial success for its drug candidates, if approved; I-Mab’s ability to obtain and maintain protection of intellectual property for its technology and drugs; I-Mab’s reliance on third parties to conduct drug development, manufacturing and other services; and I-Mab’s limited operating history and I-Mab’s ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates, as well as those risks more fully discussed in the “Risk Factors” section in I-Mab’s most recent annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in I-Mab’s subsequent filings with the SEC. All forward-looking statements are based on information currently available to I-Mab. I-Mab undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by law.
I-Mab Investor & Media Contacts
PJ Kelleher
LifeSci Advisors
+1-617-430-7579
pkelleher@lifesciadvisors.com
IR@imabbio.com
FAQ
What is the deadline for I-Mab (IMAB) to regain Nasdaq compliance?
What happens if IMAB stock doesn't meet Nasdaq's minimum bid requirement by the deadline?
How long has IMAB stock been trading below the Nasdaq minimum requirement?
Does the Nasdaq deficiency notice affect IMAB's current trading status?
What must IMAB's stock price reach to regain Nasdaq compliance?
