Nasdaq warns Kyntra Bio (NASDAQ: FGEN) over Global Select listing test

(Moderate)

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Kyntra Bio, Inc. reported receiving a Nasdaq notice on April 2, 2026 that it no longer meets the Nasdaq Global Select Market continued listing requirement of $50 million in total assets and total revenue under Listing Rule 5450(b)(3)(A).

The shortfall arises because revenue of FibroGen International is now presented as held for sale in discontinued operations for 2024 and 2025, and the company also does not meet the alternative shareholders’ equity or market value standards. Kyntra Bio has 45 days, until May 18, 2026, to submit a plan to regain compliance, and Nasdaq may grant up to a 180‑day extension to September 29, 2026 if the plan is accepted.

Positive

None.

Negative

Kyntra Bio received a Nasdaq notice of non-compliance with the Global Select Market $50 million assets-and-revenue listing requirement, and it also fails alternative equity and market value standards, putting its current listing status at clear risk.

Insights

Nasdaq deficiency notice puts Kyntra Bio’s Global Select listing at risk, with a defined but uncertain remediation window.

The company no longer satisfies the Nasdaq Global Select Market test requiring at least $50 million in combined total assets and total revenue under Listing Rule 5450(b)(3)(A). Reclassifying FibroGen International’s revenue into discontinued operations for 2024 and 2025 reduced qualifying revenue, triggering non‑compliance.

Kyntra Bio also fails the alternative shareholders’ equity and market value of listed securities standards, so it must rely on a remediation plan. Nasdaq allows 45 days, until May 18, 2026, to submit a plan and can extend the period to September 29, 2026. Outcomes can include regaining compliance, moving to the Nasdaq Capital Market, or eventual delisting if criteria are not met.

8-K Event Classification

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

1 item

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

The company received a delisting notice or transferred its listing to a different exchange.

Key Figures

Nasdaq assets and revenue requirement: $50 million Plan submission window: 45 days Maximum extension period: 180 days +3 more

6 metrics

Nasdaq assets and revenue requirement $50 million Total assets and total revenue test under Listing Rule 5450(b)(3)(A)

Plan submission window 45 days Period to submit compliance plan ending May 18, 2026

Maximum extension period 180 days Potential Nasdaq extension through September 29, 2026

Notice date April 2, 2026 Date Nasdaq informed Kyntra Bio of non-compliance

Plan due date May 18, 2026 Deadline to submit plan to regain compliance

Possible extension end date September 29, 2026 Latest date to evidence compliance if plan accepted

Key Terms

Nasdaq Global Select Market, Listing Rule 5450(b)(3)(A), discontinued operations, Nasdaq Capital Market, +1 more

5 terms

Nasdaq Global Select Market financial

"the Company no longer complies with the Nasdaq Global Select Market continued listing requirement"

A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.

Listing Rule 5450(b)(3)(A) regulatory

"per Listing Rule 5450(b)(3)(A)"

discontinued operations financial

"being presented as held for sale (in discontinued operations) in 2024 and 2025"

Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.

Nasdaq Capital Market financial

"Kyntra Bio may also consider applying to transfer the Company’s securities to the Nasdaq Capital Market."

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

stockholders’ equity financial

"listing requirements relating to stockholders’ equity or market value of listed securities"

Stockholders’ equity is the portion of a company’s value that belongs to its owners after subtracting what the company owes from what it owns — like the equity in a house after paying the mortgage. For investors it shows the company’s net worth and can indicate financial strength, a cushion against losses, and the amount potentially available to support dividends or reinvestment; tracking changes helps assess whether the business is building or eroding owner value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →

Accepted by SEC EDGAR 04/09/2026 - 04:10 PM

FAQ

What Nasdaq issue did Kyntra Bio (FGEN) disclose in this 8-K?

Kyntra Bio disclosed that Nasdaq notified the company on April 2, 2026 that it no longer meets the Nasdaq Global Select Market’s continued listing standards tied to $50 million in total assets and total revenue, or alternative equity and market value criteria.

Why is Kyntra Bio (FGEN) out of compliance with Nasdaq’s $50 million standard?

The company’s non-compliance stems from revenue of FibroGen International being reported as held for sale in discontinued operations in 2024 and 2025. This presentation reduces qualifying revenue used in Nasdaq’s assets-and-revenue test under Listing Rule 5450(b)(3)(A).

How long does Kyntra Bio (FGEN) have to regain Nasdaq listing compliance?

Kyntra Bio has 45 days, until May 18, 2026, to submit a plan to regain compliance. If Nasdaq accepts the plan, it may grant up to 180 days, through September 29, 2026, for the company to demonstrate renewed compliance.

Does the Nasdaq notice immediately affect trading in Kyntra Bio (FGEN) stock?

The notice has no immediate effect on the listing of Kyntra Bio’s common stock. Shares continue trading on the Nasdaq Global Select Market while the company prepares its compliance plan and Nasdaq evaluates any extension under its rules.

What alternatives does Kyntra Bio (FGEN) have if it cannot meet Global Select standards?

The company may submit a plan showing current or near-term compliance with shareholders’ equity or market value standards, and it may also consider applying to transfer its securities to the Nasdaq Capital Market, which has different listing requirements.

What factors will Nasdaq review in Kyntra Bio’s (FGEN) compliance plan?

Nasdaq will consider the likelihood the plan restores compliance, the company’s past compliance history, reasons for the current deficiency, other corporate events during the review period, overall financial condition, and the company’s public disclosures.

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): April 02, 2026

    

KYNTRA BIO, INC.

(Exact name of Registrant as Specified in Its Charter)


Delaware	001-36740	77-0357827
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

350 Bay Street Suite 100 #6009
San Francisco, California		94133
(Address of Principal Executive Offices)		(Zip Code)

     Registrant’s Telephone Number, Including Area Code: 415 978-1200 

    

(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(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	KYNB	The Nasdaq Global Select 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.

On April 2, 2026, Kyntra Bio, Inc. (“Kyntra Bio” or the “Company”) received a letter from the Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market notifying us that the Company no longer complies with the Nasdaq Global Select Market continued listing requirement of $50 million in total assets and total revenue for the most recently completed fiscal year (or two of the last three most recently completed fiscal years) per Listing Rule 5450(b)(3)(A). This is due to the revenue of FibroGen International being presented as held for sale (in discontinued operations) in 2024 and 2025. The Company does not currently meet the alternative requirements of Listing Rule 5450(b) (either the shareholders’ equity or the market value of listed securities standards).

The notification received has no immediate effect on the listing of Kyntra Bio’s common stock on Nasdaq. Under the Nasdaq Rules, the Company has 45 days (May 18, 2026) to submit a plan to regain compliance and if such plan is accepted, Nasdaq may grant the Company with an extension of up to 180 days (September 29, 2026) to evidence compliance.

Per Listing Rule 5810(c)(2)(D), the Company may submit a plan that demonstrates current or near term compliance with the listing requirements relating to stockholders’ equity or market value of listed securities. In determining whether to accept our plan, Nasdaq will consider such things as the likelihood that the plan will result in compliance with Nasdaq’s continued listing criteria, the Company’s past compliance history, the reasons for the Company’s current non-compliance, other corporate events that may occur within the review period, the Company’s overall financial condition, and its public disclosures.

Kyntra Bio may also consider applying to transfer the Company’s securities to the Nasdaq Capital Market.

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.


			KYNTRA BIO, INC.

Date:	April 9, 2026	By:	/s/ John Alden
			John Alden General Counsel

Source: View Original Filing on SEC EDGAR

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