Celularity Inc Receives Notice of Non-Compliance with Nasdaq Listing Requirements

Celularity Inc (NASDAQ: CELU) recently disclosed in an 8-K filing with the Securities and Exchange Commission (SEC) that it had received notice from the Listing Qualifications department of the Nasdaq Stock Market LLC (“Nasdaq”) regarding the company’s failure to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (“Q3 2024 Form 10-Q”).

According to the filing, Celularity was unable to file the Q3 2024 Form 10-Q within the specified time frame, and the extension period provided under Rule 12b-25 had expired on November 19, 2024. Subsequently, on November 21, 2024, Nasdaq formally notified Celularity that its failure to file the Q3 2024 Form 10-Q meant that the company no longer met the continued listing requirements outlined in Nasdaq Listing Rule 5250(c)(1).

Despite this notification, Celularity’s common stock and warrants, traded under the symbols “CELU” and “CELUW” respectively, continue to trade on the Nasdaq Capital Market without immediate effect on their listing status.

As per Nasdaq rules, Celularity is now required to submit a plan to Nasdaq within 60 calendar days from the notice date to regain compliance by January 20, 2025. If accepted, the company will have an additional 180 calendar days from the original Q3 2024 Form 10-Q due date, until May 13, 2025, to implement the compliance plan.

Celularity has reassured stakeholders that it intends to submit a plan within the stipulated time frame and is exploring available options to ensure compliance. However, the company has emphasized that there is no guarantee of regaining or maintaining compliance within the designated period or meeting other Nasdaq listing requirements.

With the recent developments, Celularity Inc has been actively working towards rectifying the situation promptly to meet Nasdaq’s compliance standards and maintain its listing status.

The filing was signed on behalf of Celularity Inc by Robert J. Hariri, Chairman, and CEO, on November 29, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Celularity’s 8K filing here.

Celularity Company Profile

Celularity Inc, a clinical-stage biotechnology company, develops off-the-shelf placental-derived allogeneic cell therapies for the treatment of cancer, immune, and infectious diseases. It operates through three segments: Cell Therapy, Degenerative Disease, and BioBanking. The company's lead therapeutic programs include CYCART-19, an allogeneic CAR-T cell for the treatment of non-Hodkin's lymphoma (NHL) and mantle cell lymphoma (MCL); CYNK-001, an allogeneic unmodified natural killer cell that is in Phase I/II clinical trial for the treatment of acute myeloid leukemia (AML); and APPL-001, a genetically modified placental-derived mesenchymal-like adherent stromal cell for the treatment of Crohn's disease.