Cyclacel Pharmaceuticals confirms filing of appeal to Nasdaq delisting letter

Cyclacel Pharmaceuticals announced that the Company timely requested a hearing before the Nasdaq Hearings Panel and a hearing has been scheduled for October, 15, 2024. The request automatically stays any suspension or delisting action pending the Panel’s decision after the hearing and the expiration of any additional extension period granted by the Panel after the hearing. As previously reported, on August 26, 2024, the Listing Qualifications Staff of The Nasdaq Stock Market determined that Cyclacel Pharmaceuticals was not in compliance with the Nasdaq Listing Rule 5550(b)(1) because the Company reported stockholders’ equity of less than $2.5 million as of June 30, 2024. At the hearing, the Company will present its plan for regaining and sustaining compliance with the Equity Rule for continued listing. However, there can be no assurance that a hearing with the Panel will be successful or, if the Panel determines to continue the Company’s listing, that the Company will be able to satisfy the continued listing criteria subsequent to the hearing.