Summary by Futu AI
On June 18, 2024, Allarity Therapeutics, Inc. received notification from the Nasdaq Listing Qualifications Staff that the company is not in compliance with the Nasdaq Listing Rule 5550(a)(2), due to its common stock bid price falling below the $1 per share minimum requirement for 30 consecutive business days. The company plans to appeal this by requesting a hearing before a Nasdaq Hearings Panel to seek continued listing while it works to regain compliance. The filing of the hearing request will postpone the suspension of trading and potential delisting of the company's common stock until the Panel reaches a decision. Allarity Therapeutics has cautioned that there is no guarantee the Panel will allow the company to remain listed on the Nasdaq Capital Market.