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2-Jun-2015
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St
Item 3.01. Notice of Delisting or Failure to Satisfy Continued Listing Rule or Standard; Transfer of Listing.
As previously disclosed, on December 5, 2014, Opexa Therapeutics, Inc. (the "Company") received a letter from the listing qualifications department staff of the NASDAQ Stock Market ("NASDAQ") notifying the Company that for the last 30 consecutive business days the bid price of the Company's common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of NASDAQ listing rule 5550(a)(2). The Company was initially provided 180 calendar days, or until June 3, 2015, to regain compliance with the minimum bid price rule.
On June 1, 2015, the Company requested an additional 180-day grace period to regain compliance with NASDAQ's minimum bid price requirement because the Company's stock has continued to trade below the $1.00 minimum closing bid price. The Company believes that it is in compliance with all other NASDAQ initial listing requirements including the minimum $5 million in shareholders' equity. Consequently, the Company expects NASDAQ to approve the request and grant an extension of an additional 180 days.
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