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Senti Biosciences | 8-K: Current report

SEC announcement ·  Feb 6 16:43
Summary by Moomoo AI
Senti Biosciences, Inc., a Delaware-incorporated biotechnology company, has been granted an additional 180-day period to meet Nasdaq's minimum bid price requirement. The company's common stock, trading under the symbol SNTI, was initially notified of non-compliance with the $1.00 minimum bid price rule after closing below this threshold for 30 consecutive business days. The initial 180-day grace period ended on February 5, 2024, without achieving compliance. Consequently, Senti Biosciences applied for and was approved to transfer its listing from The Nasdaq Global Market to The Nasdaq Capital Market, effective January 25, 2024. This transfer allows the company to benefit from a second 180-day grace period, which extends until August 5, 2024, to regain compliance. During this period, the company must maintain a closing bid price...Show More
Senti Biosciences, Inc., a Delaware-incorporated biotechnology company, has been granted an additional 180-day period to meet Nasdaq's minimum bid price requirement. The company's common stock, trading under the symbol SNTI, was initially notified of non-compliance with the $1.00 minimum bid price rule after closing below this threshold for 30 consecutive business days. The initial 180-day grace period ended on February 5, 2024, without achieving compliance. Consequently, Senti Biosciences applied for and was approved to transfer its listing from The Nasdaq Global Market to The Nasdaq Capital Market, effective January 25, 2024. This transfer allows the company to benefit from a second 180-day grace period, which extends until August 5, 2024, to regain compliance. During this period, the company must maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. Senti Biosciences has indicated that it may consider a reverse stock split as a potential remedy to address the bid price deficiency if necessary. The company cautions that there is no assurance of regaining compliance within the second grace period, and failure to do so may result in delisting. The company's CEO, Timothy Lu, M.D., Ph.D., signed the report dated February 6, 2024.

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