Summary by Moomoo AI
TransCode Therapeutics, Inc. has announced that the Nasdaq Listing Qualifications Department has stayed its delisting action pending a final decision by a Nasdaq Hearing Panel. The decision follows the company's appeal against the delisting notice received on May 7, 2024, for failing to maintain the minimum bid price requirement of $1.00 per share. TransCode Therapeutics, which had been given until May 6, 2024, to regain compliance, was also found ineligible for a second compliance period due to not meeting the minimum stockholders' equity requirement. The company's common stock will continue to trade on The Nasdaq Capital Market under the symbol 'RNAZ' until the Panel's final decision post the hearing scheduled for June 25, 2024. The company has cautioned that there is no assurance of a successful appeal or that it will regain compliance and remain listed on Nasdaq.