Business Context and Reporting Period
This Form 6-K filing by Apollomics Inc. covers the month of July 2024, specifically dated July 16, 2024. The filing addresses a regulatory matter concerning the Company's listing status on The Nasdaq Stock Market LLC.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is a notification of a listing compliance status rather than a financial results announcement.
Material Changes
The primary material event is the receipt of a notice from Nasdaq regarding the minimum bid price requirement (Listing Rule 5550(a)(2)). Although the Company failed to regain compliance by the July 15, 2024 deadline, Nasdaq granted an extension under Listing Rule 5810(c)(3)(A).
Guidance, Outlook, and Risks
Compliance Extension: The Company has been granted an additional 180 calendar days, extending until January 13, 2025, to regain compliance.
Compliance Criteria: To maintain its listing, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days within this 180-day period.
Risk: Failure to meet the $1.00 bid price requirement within the extended timeframe could result in delisting.
Investor Verification Checklist
- Verify the current trading price of Apollomics Inc. common stock relative to the $1.00 threshold.
- Monitor the stock's performance to ensure it meets the $1.00 bid price for ten consecutive business days before January 13, 2025.
- Review the press release (Exhibit 99.1) for any additional details on the Company's capital structure or potential reverse stock split plans.
- Check for subsequent filings that may update the compliance status or extend the deadline further.