Aprea Therapeutics, Inc. — Form 8-K Summary
Business context and reporting period
Aprea Therapeutics, Inc. filed a Form 8-K dated September 12, 2022, under Item 3.01 regarding a Nasdaq continued-listing deficiency. The report was signed on September 16, 2022. The filing does not provide quarterly or annual financial results.
Financial position and key metrics
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, cash balance, or other operating financial metrics.
Material changes and listing deficiency
- Nasdaq notified the company that its common stock had closed below the $1.00 minimum bid-price requirement for 30 consecutive business days under Nasdaq Listing Rule 5450(a)(1).
- The deficiency had no immediate effect on the listing. The stock continued trading on the Nasdaq Global Select Market under the symbol APRE.
- The company received an initial 180-calendar-day compliance period ending March 13, 2023.
- Compliance generally requires a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.
Outlook, contingencies, and unusual items
- If the company did not regain compliance by March 13, 2023, it could have been eligible for an additional 180-calendar-day period, subject to transfer to the Nasdaq Capital Market and satisfaction of other applicable initial listing standards.
- A reverse stock split could have been used, if necessary, to cure the bid-price deficiency.
- If the company failed to regain compliance and was not eligible for an additional period, Nasdaq could have issued a delisting determination. The company would then have had the right to appeal to a Nasdaq Hearings Panel.
- Management stated that it would monitor the closing bid price and consider available options. The filing cautioned that there was no assurance the company would regain compliance or maintain compliance with other listing requirements.
Investor verification checklist
- Verify whether APRE subsequently regained compliance with Nasdaq’s $1.00 bid-price requirement.
- Check whether Nasdaq granted an additional compliance period, required a market transfer, or issued a delisting determination.
- Review subsequent filings for any reverse stock split, capital raising, or other actions affecting listing status and shareholders.
- Consult the company’s periodic reports for cash resources, operating losses, liquidity risks, and financing needs, which are not disclosed in this filing.