Nasdaq warns Barinthus Biotherapeutics (NASDAQ: BRNS) on $1 bid rule

Rhea-AI Filing Summary

Barinthus Biotherapeutics plc reported that Nasdaq has notified the company its American Depositary Shares are out of compliance with the Nasdaq Global Market’s minimum bid requirement because the closing bid price was below $1.00 per share for 30 consecutive business days. The ADSs, which trade under the symbol BRNS, remain listed for now and the notice has no immediate effect on trading.

Under Nasdaq rules, Barinthus Biotherapeutics has a 180-calendar day grace period, until June 29, 2026, to regain compliance by having a closing bid price of at least $1.00 for a minimum of ten consecutive business days. The company is monitoring its share price and is evaluating options to regain compliance, which could include a reverse stock split of the ADSs.

Positive

• None.

Negative

• Nasdaq minimum bid price deficiency: Barinthus Biotherapeutics’ ADSs closed below $1.00 for 30 consecutive business days, putting its Nasdaq Global Market listing at risk if compliance is not regained within the allowed period.

Insights

Equity market structure analyst

Barinthus faces Nasdaq bid-price deficiency with a defined cure window.

Barinthus Biotherapeutics plc has fallen out of compliance with Nasdaq Global Market rules because its ADS closing bid stayed below $1.00 for 30 consecutive business days. This triggers a formal deficiency process but does not immediately affect the current BRNS listing, so trading continues while the company works within Nasdaq’s framework.

The company now has a 180-calendar day period, through June 29, 2026, to restore its ADS closing bid to at least $1.00 for a minimum of ten consecutive business days. If it does not meet this standard by that date, Nasdaq may grant a second 180-day period if other listing criteria are satisfied. Barinthus states it is monitoring its ADS price and evaluating options to regain compliance, including a potential reverse stock split of the ADSs.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 30, 2025

BARINTHUS BIOTHERAPEUTICS PLC

(Exact name of registrant as specified in its charter)

England and Wales			001-40367			Not Applicable
(State or other jurisdiction of incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)

Barinthus Biotherapeutics plc

20400 Century Blvd, Suite 210,

Germantown, MD 20874

(Address of principal executive offices, including zip code)

443 917-0966

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trade Symbol(s)			Name of each exchange on which registered
American Depositary Shares			BRNS			The Nasdaq Global Market
Ordinary shares, nominal value £0.000025 per share*

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).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

*American Depositary Shares may be evidenced by American Depositary Receipts. Each American Depositary Share represents one (1) ordinary share. Not for trading, but only in connection with the listing of the American Depositary Shares on The Nasdaq Global Market. The American Depositary Shares represent the right to receive ordinary shares and are being registered under the Securities Act of 1933, as amended, pursuant to a separate Registration Statement on Form F-6. Accordingly, the American Depositary Shares are exempt from the operation of Section 12(a) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 12a-8.

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On December 30, 2025, Barinthus Biotherapeutics plc (the “Company”) received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the closing bid price of the Company’s American Depositary Shares (the “ADS”), each representing one ordinary share of the Company, was below $1.00 per share for 30 consecutive business days, and that, therefore, the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1), which is the minimum bid price requirement for continued listing on the Nasdaq Global Market.

The notice from Nasdaq has no immediate effect on the listing of the ADSs, and the ADSs will continue to be listed on the Nasdaq Global Market under the symbol “BRNS.”

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has automatically been afforded a 180-calendar day period, or until June 29, 2026, to regain compliance with the minimum bid price requirement. The continued listing standard will be met if the closing bid price of the ADSs is at least $1.00 per share for a minimum of ten consecutive business days during the 180-calendar day period. If the Company is not in compliance by June 29, 2026, the Company may be afforded a second 180-calendar day period to regain compliance if it meets certain requirements.

The Company intends to monitor the closing bid price of the ADSs and is currently evaluating its options for regaining compliance, which could include a reverse stock split of the ADSs.

SIGNATURE

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.

			Barinthus Biotherapeutics plc
Date: January 6, 2026			By:			/s/ William Enright
						William Enright
						Chief Executive Officer

FAQ

What did Barinthus Biotherapeutics (BRNS) disclose in this 8-K?

Barinthus Biotherapeutics plc disclosed that it received a notice from Nasdaq stating its American Depositary Shares are no longer in compliance with the Nasdaq Global Market minimum bid price requirement because the closing bid has been below $1.00 per share for 30 consecutive business days.

Is Barinthus Biotherapeutics (BRNS) being delisted from Nasdaq now?

No. The notice has no immediate effect on the listing of Barinthus Biotherapeutics’ ADSs. The ADSs will continue to trade on the Nasdaq Global Market under the symbol BRNS while the company works to regain compliance.

How long does Barinthus Biotherapeutics (BRNS) have to regain Nasdaq bid-price compliance?

Under Nasdaq Listing Rule 5810(c)(3)(A), Barinthus Biotherapeutics has a 180-calendar day period, until June 29, 2026, to regain compliance. It will be back in compliance if the closing bid price of its ADSs is at least $1.00 per share for a minimum of ten consecutive business days during this period.

Can Barinthus Biotherapeutics (BRNS) get more time beyond June 29, 2026?

If Barinthus Biotherapeutics is still not in compliance by June 29, 2026, Nasdaq may grant a second 180-calendar day compliance period, provided the company meets certain additional requirements specified by Nasdaq rules.

What steps might Barinthus Biotherapeutics (BRNS) take to regain Nasdaq compliance?

Barinthus Biotherapeutics states that it is monitoring the closing bid price of its ADSs and is evaluating options to regain compliance. The company notes that these options could include a reverse stock split of the ADSs.

What security is affected by the Nasdaq notice for Barinthus Biotherapeutics (BRNS)?

The Nasdaq notice applies to Barinthus Biotherapeutics’ American Depositary Shares, each representing one ordinary share of the company, which are listed on the Nasdaq Global Market under the symbol BRNS.