Curis (NASDAQ: CRIS) regains Nasdaq compliance but faces strict one-year review
Rhea-AI Filing Summary
Curis, Inc. reports that it has regained compliance with Nasdaq Listing Rule 5550(b)(2), meaning its common stock currently meets Nasdaq’s minimum market value of listed securities requirement and the terms set by a Nasdaq Hearings Panel.
Under Nasdaq Listing Rule 5815(d)(4)(A), Curis will remain under a one-year discretionary Panel monitoring period. If it falls out of compliance with any Nasdaq listing rule during this time, it will not receive a cure period or extra time to fix the issue. Instead, Nasdaq staff would issue a delisting determination, after which Curis could request a new hearing, and its securities may ultimately be delisted from Nasdaq.
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Insights
Curis regains Nasdaq compliance but faces strict one-year monitoring.
Curis, Inc. has regained compliance with Nasdaq Listing Rule 5550(b)(2), restoring full adherence to the listing standards set by a Nasdaq Hearings Panel. This keeps its common stock trading on the Nasdaq Capital Market, avoiding immediate delisting risk.
However, Nasdaq has imposed a one-year Discretionary Panel Monitor under Listing Rule 5815(d)(4)(A). During this period, any new deficiency in any Nasdaq listing rule would trigger an automatic delisting determination without the usual opportunity to submit a compliance plan or receive a cure period.
If a new deficiency occurs, Nasdaq staff would issue a Delist Determination Letter, and Curis could request a hearing before the same or a newly convened Hearings Panel. That Panel could still decide that the company’s securities be delisted, so ongoing adherence to all listing requirements remains critical.
FAQ
What did Curis, Inc. (CRIS) announce regarding its Nasdaq listing status?
Curis announced it has regained compliance with Nasdaq Listing Rule 5550(b)(2), which governs the market value of listed securities. This means its common stock currently meets Nasdaq’s continued listing standards set by a prior Hearings Panel decision.
What is the one-year Nasdaq Discretionary Panel Monitor for Curis (CRIS)?
Nasdaq placed Curis under a one-year Discretionary Panel Monitor under Listing Rule 5815(d)(4)(A). During this period, any new listing deficiency triggers stricter consequences, including an automatic delisting determination without the usual cure or compliance period.
What happens if Curis, Inc. (CRIS) becomes non-compliant with Nasdaq rules during the monitoring period?
If Curis falls out of compliance with any Nasdaq listing rule within the one-year monitoring period, Nasdaq staff will issue a Delist Determination Letter. Curis will not be allowed to submit a compliance plan or receive extra time before that determination.
Can Curis (CRIS) appeal a Nasdaq delisting determination during the monitoring period?
Yes. If Nasdaq issues a Delist Determination Letter, Curis may request a new hearing under Listing Rule 5815(d)(4)(C). The hearing would be before the original Hearings Panel, if available, or a newly convened Panel to review the determination.
Could Curis, Inc. (CRIS) be delisted from Nasdaq despite regaining compliance?
Yes. Although Curis has regained compliance, its securities may still be delisted if it again fails any Nasdaq listing rule during the one-year monitoring period and the Hearings Panel ultimately upholds a delisting determination after a requested hearing.
What forward-looking risks does Curis (CRIS) highlight about its Nasdaq listing?
Curis includes forward-looking statements about its ability to maintain its Nasdaq listing and request future hearings. It cautions that actual results may differ materially, referencing risk factors in its Annual Report on Form 10-K and other SEC filings.