Celularity Inc. Faces Nasdaq Compliance Challenge
Celularity Inc. Faces Nasdaq Compliance Challenge
Celularity Inc. (NASDAQ: CELU), a leader in regenerative and cellular medicine, has recently been notified by the Nasdaq Stock Market regarding the company's late filing of its Form 10-Q for the quarter ending June 30, 2024. This notification indicates that Celularity is currently failing to meet the continuing listing requirements set forth by Nasdaq, which mandates timely submission of all periodic financial reports to the Securities and Exchange Commission.
Details of the Nasdaq Notice
On the notice dated August 22, 2024, Nasdaq highlighted the company's delinquency in filing its Q2 2024 Form 10-Q. Despite this notification, the trading of Celularity's common stock and warrants remains unaffected at this time, with shares continuing to trade under the symbols "CELU" for stocks and "CELUW" for warrants on the Nasdaq Capital Market.
Compliance Plan Submission and Implementation
In response to this notice, Celularity is required to submit a detailed plan to Nasdaq by September 6, 2024, that outlines how the company intends to regain compliance with its filing obligations. If Nasdaq accepts this plan, the company will have until October 14, 2024, to put the plan into action effectively. Celularity is committed to addressing this issue promptly and evaluating all possible strategies to ensure compliance during the designated timeframe.
Ongoing Efforts for Filing
The company is actively working to submit both its Q1 2024 and Q2 2024 Form 10-Q filings. The successful completion and timely submission of these documents are essential for Celularity to maintain its status on Nasdaq and avoid any potential disruptions in trading.
About Celularity Inc.
Celularity Inc. is at the forefront of the regenerative medicine industry, focusing on innovative solutions derived from the postpartum placenta. The company specializes in developing and commercializing advanced biomaterial products alongside allogeneic, cryopreserved cell therapies. Its remarkable portfolio of therapeutic programs is dedicated to tackling age-related diseases, including degenerative conditions, cancer, and immune disorders. This is achieved through the use of mesenchymal-like adherent stromal cells (MLASCs), CAR T-cells, and natural killer (NK) cells, both genetically modified and unmodified, paving the way for groundbreaking therapies. Celularity aims not only to harness the unique biological advantages of the placenta but also to address critical global healthcare needs with effective, accessible, and affordable treatment options.
Contact Information
Investor Relations
For further inquiries regarding investor relations, please contact:
Carlos Ramirez
Senior Vice President, Celularity Inc.
Email: Carlos.ramirez@celularity.com
Media Inquiries
For media-related questions, please reach out to:
Raquel Cona / Michaela Fawcett
KCSA Strategic Communications
Email: rcona@kcsa.com / mfawcett@kcsa.com
Frequently Asked Questions
What did Nasdaq notify Celularity Inc. about?
Nasdaq informed Celularity Inc. that it was noncompliant due to the late filing of its Form 10-Q for the quarter ending June 30, 2024.
What steps must Celularity take to regain compliance?
Celularity must submit a compliance plan to Nasdaq by September 6, 2024, and implement the plan by October 14, 2024, if accepted.
Are Celularity's stocks currently being traded?
Yes, Celularity's common stock and warrants continue to trade on the Nasdaq Capital Market under the symbols "CELU" and "CELUW" respectively.
What is Celularity's focus in the medical field?
Celularity focuses on regenerative and cellular medicine, developing placental-derived cell therapies and advanced biomaterial products targeted at aging-related diseases, cancer, and immune disorders.
Who can be contacted for investor relations at Celularity?
Carlos Ramirez, the Senior Vice President, can be contacted for investor relations at Carlos.ramirez@celularity.com.
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