Curis (CRIS) to appeal Nasdaq delisting after $35M shortfall

Rhea-AI Filing Summary

Curis, Inc. received a delisting notice from Nasdaq after failing to meet the minimum market value of listed securities ($35,000,000) for 30 consecutive trading days. Nasdaq gave a 180‑day compliance period that expired on August 20, 2025, and on August 21, 2025 the Listing Qualifications Staff notified the company that its securities would be delisted unless the company requests a hearing by August 28, 2025. The company intends to request a hearing before the Nasdaq Hearings Panel, which will stay any suspension or delisting while the appeal is pending. The common stock remains listed and tradable on Nasdaq during the appeal, but there is no assurance the company will regain compliance.

Positive

• The company intends to request a hearing, which stays any suspension or delisting while the appeal is pending
• Common stock remains listed and tradable on Nasdaq during the appeal process

Negative

• Company failed to meet Nasdaq MVLS Requirement of $35,000,000 after a 180‑day compliance period
• Nasdaq issued a delisting determination requiring a hearing request by August 28, 2025 to avoid delisting
• No assurance the company will regain compliance, creating continued listing risk and potential liquidity impact

Insights

Capital Markets Counsel

Timely appeal preserves listing while the matter proceeds, but outcome remains uncertain.

The company received a Nasdaq delisting determination tied to the minimum market value of listed securities threshold of $35,000,000 after the 180‑day compliance period ended on August 20, 2025. Filing a request for a hearing by August 28, 2025 triggers an automatic stay of suspension and delisting, allowing continued trading while the Panel reviews the record.

The appeal’s success typically depends on demonstrating regained MVLS, presenting mitigating facts, or showing significant corporate actions taken during the compliance period. Investors should monitor Panel scheduling and any statement quantifying current market value and remedial steps over the near term (weeks to months).

Corporate Governance Analyst

The notice signals a governance and investor‑confidence issue tied to market capitalization.

Failure to meet Nasdaq’s MVLS requirement reflects sustained low public market valuation, which can affect liquidity, access to capital, and stakeholder perceptions. The company’s statement that it will seek a hearing is procedural and does not provide measures taken to restore compliance.

Watch for disclosures about share price support, reverse stock splits, capital raises, or strategic transactions in the coming weeks, as those are the concrete levers that typically influence a Nasdaq Panel’s decision.

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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): August 21, 2025

Curis, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware			000-30347			04-3505116
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(I.R.S. Employer Identification Number)

128 Spring Street, Building C - Suite 500, Lexington, MA 02421

(Address of Principal Executive Offices) (Zip Code)

(617) 503-6500

(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:
			☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
			☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
			☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
			☐			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

Trading Symbol

Name of each exchange on which registered

Common Stock, Par Value $0.01 per share

CRIS

Nasdaq Capital Market

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  ☐

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. ☐

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

As previously disclosed, on February 21, 2025, Curis, Inc. (the “Company”) received notice from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(2) (the “MVLS Requirement”), as the market value of the Company’s listed securities had been below $35,000,000 for the previous 30 consecutive trading days. Nasdaq provided the Company with a compliance period of 180 calendar days, or until August 20, 2025 (the “Compliance Period”), to regain compliance with the MVLS Requirement.

On August 21, 2025, the Company received notice from the Staff stating that, because the Company has not regained compliance with the MVLS Requirement, its securities would be delisted from The Nasdaq Capital Market unless the Company timely appeals the Staff’s delisting determination by requesting a hearing before the Nasdaq Hearings Panel (the “Panel”) by August 28, 2025.

The Company intends to make a timely request for a hearing before the Panel to appeal the Staff’s determination. The Company’s request for a hearing will stay the suspension and delisting of the Company’s securities by the Staff pending the ultimate outcome of the hearing. The Company’s common stock will remain listed and eligible for trading on Nasdaq pending the Panel’s decision; however, there can be no assurance that the Company will ultimately regain compliance and remain listed on Nasdaq.

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.

						Curis, Inc.
Date:			August 22, 2025			By:			/s/ Diantha Duvall
									Diantha Duvall
									Chief Financial Officer

FAQ

What action did Curis (CRIS) take after receiving the Nasdaq delisting notice?

Curis stated it intends to request a hearing before the Nasdaq Hearings Panel by August 28, 2025, which will stay any suspension or delisting while the appeal is pending.

Why did Nasdaq notify Curis of potential delisting?

Nasdaq found Curis was not in compliance with the MVLS requirement because the market value of listed securities was below $35,000,000 for the prior 30 consecutive trading days.

Will Curis’s stock be removed from Nasdaq immediately?

No. The company’s timely request for a hearing will stay any suspension or delisting, and the common stock remains listed and eligible for trading on Nasdaq while the appeal is pending.

What is the deadline Curis must meet to request a hearing?

Curis must request a hearing by August 28, 2025 to appeal the Staff’s delisting determination.

What are likely outcomes investors should monitor?

Investors should watch for disclosures on market value changes, corporate actions such as reverse splits or capital raises, and the Nasdaq Panel’s decision timeline.