TransCode Therapeutics, Inc., a biotech company listed on the Nasdaq Capital Market, is facing potential delisting due to non-compliance with Nasdaq's listing requirements. The company received two deficiency letters from Nasdaq. The first, received on August 13, 2024, indicated that TransCode's common stock had not met the minimum bid price of $1.00 per share for 30 consecutive business days. The second letter, received on August 15, 2024, notified the company of its failure to meet the minimum stockholders' equity requirement of $2.5 million, with its equity standing at $1,322,274 as of June 30, 2024. Despite raising approximately $2.4 million in a July 2024 equity offering, there is no guarantee that Nasdaq will consider the company's stockholders' equity on a pro forma basis. TransCode does not meet alternative quantitative standards for continued listing either. The company has appealed the delisting decision and a hearing with the Nasdaq Hearings Panel is scheduled for October 1, 2024. The delisting action has been stayed pending the Panel's final decision, but there is no assurance that the company will regain compliance or avoid delisting.

TransCode Therapeutics, Inc., a biotech company listed on the Nasdaq Capital Market, is facing potential delisting due to non-compliance with Nasdaq's listing requirements. The company received two deficiency letters from Nasdaq. The first, received on August 13, 2024, indicated that TransCode's common stock had not met the minimum bid price of $1.00 per share for 30 consecutive business days. The second letter, received on August 15, 2024, notified the company of its failure to meet the minimum stockholders' equity requirement of $2.5 million, with its equity standing at $1,322,274 as of June 30, 2024. Despite raising approximately $2.4 million in a July 2024 equity offering, there is no guarantee that Nasdaq will consider the company's stockholders' equity on a pro forma basis. TransCode does not meet alternative quantitative standards for continued listing either. The company has appealed the delisting decision and a hearing with the Nasdaq Hearings Panel is scheduled for October 1, 2024. The delisting action has been stayed pending the Panel's final decision, but there is no assurance that the company will regain compliance or avoid delisting.