Celularity Inc. Faces Nasdaq Compliance Challenge
Celularity Inc. (NASDAQ: CELU), a prominent player in regenerative and cellular medicine, has received a notification from the Nasdaq Stock Market regarding its late filing of the Form 10-Q for the quarter ending June 30, 2024. This notification signifies that Celularity is currently not meeting the continuing listing requirements established by Nasdaq, which necessitates the timely submission of all periodic financial reports to the Securities and Exchange Commission.
Details of the Nasdaq Notice
In a notice dated August 22, 2024, Nasdaq pointed out the company's delay in filing its Q2 2024 Form 10-Q. However, trading of Celularity's common stock and warrants remains unaffected for now, 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 comprehensive plan to Nasdaq by September 6, 2024, detailing how it intends to regain compliance with its filing obligations. Should Nasdaq accept this plan, the company will have until October 14, 2024, to effectively implement it. Celularity is dedicated to addressing this issue promptly and is exploring all possible strategies to ensure compliance within the specified timeframe.
Ongoing Efforts for Filing
The company is actively working on submitting both its Q1 2024 and Q2 2024 Form 10-Q filings. Timely completion and submission of these documents are crucial for Celularity to maintain its status on Nasdaq and prevent any potential disruptions in trading.
About Celularity Inc.
Celularity Inc. is a leader in the regenerative medicine sector, focusing on innovative solutions derived from the postpartum placenta. The company is committed to developing and commercializing advanced biomaterial products alongside allogeneic, cryopreserved cell therapies. Its impressive portfolio of therapeutic programs aims to combat age-related diseases, including degenerative conditions, cancer, and immune disorders. This is accomplished through the use of mesenchymal-like adherent stromal cells (MLASCs), CAR T-cells, and both genetically modified and unmodified natural killer (NK) cells, paving the way for groundbreaking therapies. Celularity strives not only to leverage the unique biological benefits of the placenta but also to address significant global healthcare needs with effective, accessible, and affordable treatment options.
Contact Information
Investor Relations
If you have any inquiries regarding investor relations, please reach out to:
Carlos Ramirez
Senior Vice President, Celularity Inc.
Email: Carlos.ramirez@celularity.com
Media Inquiries
For any media-related questions, please contact:
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.
