Dyadic (NASDAQ: DYAI) faces dual Nasdaq listing deficiencies and delisting risk
Rhea-AI Filing Summary
Dyadic International, Inc. reported that Nasdaq has notified the company it is not meeting the technical minimum requirements under Nasdaq Listing Rule 5550(b) for continued listing on the Nasdaq Capital Market. The rule requires at least $2.5 million in stockholders’ equity, $35 million in market value of listed securities, or $500,000 of net income from continuing operations.
Dyadic has 45 days, until May 11, 2026, to submit a plan to regain compliance and may receive up to 180 days from March 27, 2026 (to September 23, 2026) to cure the deficiency if Nasdaq accepts the plan. Separately, the company also remains out of compliance with Nasdaq’s $1.00 minimum bid price requirement and has until June 17, 2026 to regain compliance with that rule. Failure to cure either deficiency by the applicable deadline could lead to delisting of Dyadic’s common stock.
Positive
- None.
Negative
- Nasdaq continued listing deficiency under Rule 5550(b): Dyadic has been notified it does not meet required thresholds for stockholders’ equity, market value of listed securities, or net income, creating a clear risk to its Nasdaq Capital Market listing if it cannot regain compliance.
- Concurrent minimum bid price deficiency: The company is already out of compliance with Nasdaq’s $1.00 minimum bid price rule, and either this issue or the new financial-standard deficiency, if uncured by their deadlines, could individually result in delisting of the common stock.
Insights
Dyadic now faces two separate Nasdaq listing deficiencies that could lead to delisting if not cured.
Dyadic International has fallen below Nasdaq’s continued listing standards tied to financial thresholds under Rule 5550(b). The company must demonstrate either sufficient stockholders’ equity, market value of listed securities, or net income, and submit a compliance plan by May 11, 2026.
If Nasdaq accepts the plan, Dyadic may have until September 23, 2026 to regain compliance. At the same time, it is already out of compliance with the $1.00 minimum bid price rule, with a deadline of June 17, 2026. Either unresolved issue can independently trigger delisting, so the overall risk to the listing status has increased.
8-K Event Classification
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| Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
(a)
On March 27, 2026, Dyadic International, Inc. (the “Company” or “Dyadic”) received a deficiency notice (the “Notice”) from the Nasdaq Listing Qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is out of compliance with the technical minimum requirements for continued listing under Nasdaq Listing Rule 5550(b) (the “Continued Listing Requirement”). The Continued Listing Requirement requires the Company to maintain at least one of the following: $2.5 million in stockholders’ equity; $35 million in market value of listed securities; or $500,000 of net income from continuing operations. The Notice has no immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market. In accordance with Nasdaq rules, the Company has 45 calendar days, or until May 11, 2026, to submit a plan to regain compliance with any of the three minimum requirements under the Continued Listing Requirement. If the plan is accepted, the Company may be eligible for a cure period of up to 180 days from March 27, 2026 (September 23, 2026) to regain compliance. If the plan is not accepted, the Company may appeal the determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq listing rules. There can be no assurance that, if the Company decides to appeal the determination by Nasdaq to the panel, such appeal would be successful.
The Company intends to actively monitor its compliance with the Continued Listing Requirement an ongoing basis and, as appropriate, plans to evaluate available options to resolve the deficiency and regain compliance (likely through the $2.5 million in stockholders’ equity requirement).
As previously disclosed, the Company also remains out of compliance with the minimum bid price of $1.00 required by the continued listing requirements of Nasdaq Listing Rule 5550(a)(2), and has until June 17, 2026 to regain compliance with such requirement. The Continued Listing Requirement deficiency discussed in the Notice is a separate and unrelated deficiency, and either deficiency, if not cured by the applicable deadline, could be a basis for the delisting of the Company’s common stock.
Safe Harbor Regarding Forward-Looking Statements
This current report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including those regarding Dyadic International’s expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance, such as the success of our clinical trial and interest in our protein production platforms, our research projects and third-party collaborations, as well as the availability of necessary funding. Forward-looking statements generally can be identified by use of the words “expect,” “should,” intend,” anticipate,” “will,” “project,” “may,” “might,” “potential,” or “continue” or other similar terms or variations of them. Forward-looking statements involve many risks, uncertainties or other factors beyond Dyadic’s control. These factors include, but are not limited to, the following: (i) our history of net losses; (ii) market and regulatory acceptance of our microbial protein production platforms and other technologies; (iii) failure to commercialize our microbial protein production platforms or our other technologies; (iv) competition, including from alternative technologies; (v) the results of nonclinical studies and clinical trials; (vi) our capital needs; (vii) changes in global economic and financial conditions; (viii) our reliance on information technology; (ix) our dependence on third parties; (x) government regulations and environmental, social and governance issues; (xi) intellectual property risks; and (xii) our ability to comply with the listing standards of the Nasdaq. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled “Risk Factors” in Dyadic’s annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in Dyadic’s periodic filings with the SEC, which are accessible on the SEC’s website and at www.dyadic.com. All forward-looking statements speak only as of the date made, and except as required by applicable law, Dyadic assumes no obligation to publicly update any such forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in our expectations.
SIGNATURES
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.
Date: March 27, 2026
| Dyadic International, Inc. | ||
| By: | /s/ Ping Rawson | |
| Name: | Ping Rawson | |
| Title: | Chief Financial Officer | |
FAQ
What Nasdaq listing deficiency did Dyadic International (DYAI) disclose?
What financial thresholds does Nasdaq Listing Rule 5550(b) require for DYAI?
How long does Dyadic International have to submit a Nasdaq compliance plan?
What cure period might Dyadic receive to fix its Nasdaq 5550(b) deficiency?
Is Dyadic International also out of compliance with Nasdaq’s minimum bid price rule?
Could Dyadic International (DYAI) be delisted from Nasdaq if issues persist?
Filing Exhibits & Attachments
3 documents