Ocean Biomedical, Inc. Addresses Nasdaq Filing Notice
Ocean Biomedical, Inc. (NASDAQ: OCEA) recently revealed that it received notification from The Nasdaq Stock Market LLC regarding its Quarterly Report on Form 10-Q for the period ended June 30, 2024. The notice highlights that the company is currently not in compliance with Nasdaq Listing Rule 5250(c)(1).
Reasons for the Delay
The delay in filing the Form 10-Q stems from previously disclosed issues related to the filing of the company's 10-K for the year ended December 31, 2023. Ocean Biomedical is actively working to resolve these filing delays and address any compliance concerns. The company understands the importance of timely financial reporting to maintain investor confidence and transparency.
Compliance Requirements Set by Nasdaq
In the notice from Nasdaq, the company was informed of specific requirements to regain compliance with filing obligations. Ocean Biomedical must submit a plan no later than September 3, 2024, outlining steps to rectify the compliance issue. Following this, the delinquent Form 10-Q must be filed by October 14, 2024, along with the 10-K for December 31, 2023, and Form 10-Q for the quarter ended March 31, 2024.
Future Impact on Stock Listing
While the current notice doesn't impact the listing or trading of Ocean Biomedical's common stock on Nasdaq immediately, ongoing delays in submitting the necessary reports could lead to further actions from the exchange. The company is committed to taking all necessary steps to meet its filing obligations and avoid any potential negative ramifications for its stock listing.
About Ocean Biomedical, Inc.
Ocean Biomedical, Inc. is a biopharmaceutical company engaged in developing and commercializing innovative therapeutic solutions. The company operates with a unique business strategy aimed at accelerating the transition of promising research from laboratories to clinical applications. Ocean Biomedical collaborates with research universities and medical institutions to harness scientific breakthroughs in healthcare.
Research and Development Focus
The organization has identified five high-potential discoveries targeting significant health issues such as lung cancer, brain cancer, pulmonary fibrosis, and malaria prevention and treatment. The skilled team at Ocean Biomedical is dedicated to addressing pressing global health challenges through innovative research and clinical trials.
Contact Information
For inquiries, Ocean Biomedical Investor Relations can be reached via email at connect@oceanbiomedical.com. Kevin Kertscher serves as the Communications Director for the company and is available for further communication.
Frequently Asked Questions
What is the reason for the Nasdaq notice to Ocean Biomedical?
The notice was issued due to Ocean Biomedical's failure to file the Quarterly Report on Form 10-Q by the required deadline, as mandated by Nasdaq Listing Rules.
What steps must Ocean Biomedical take to regain compliance?
Ocean Biomedical must submit a compliance plan by September 3, 2024, and file the delinquent Form 10-Q by October 14, 2024, along with the required 10-K reports.
Will the notice affect Ocean Biomedical's stock trading?
Currently, the notice does not impact stock trading, but delays in filing could lead to further consequences that may affect stock status.
What areas of research is Ocean Biomedical currently pursuing?
Ocean Biomedical is focused on developing therapies for lung cancer, brain cancer, pulmonary fibrosis, and malaria prevention and treatment.
Who can be contacted for more information regarding the company?
For additional information or inquiries, the company's Investor Relations can be reached at connect@oceanbiomedical.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.