Molecular Templates receives noncompliance notice from Nasdaq

Molecular Templates (MTEM) announced that it has received an expected deficiency notification letter from Nasdaq on November 25. The notice indicated that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of its failure to timely file its quarterly report on Form 10-Q for the period ended September 30, as described more fully in the company’s Form 12b-25 notification of late filing filed with the SEC on November 15. The Listing Rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC. Molecular Templates has until January 24, 2025 to submit a plan of compliance with respect to the notice.