UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
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Emerging growth company
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| Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
Following discussions with the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) regarding the Company’s anticipated compliance with the minimum stockholders’ equity requirements for continued listing on The Nasdaq Global Select Market versus The Nasdaq Capital Market tier, the Company applied to transfer the listing of its common stock to The Nasdaq Capital Market, and on November 30, 2022 received confirmation that the Staff had approved the transfer application. As a result, the Company’s common shares will begin trading on The Nasdaq Capital Market effective with the open of trading on December 2, 2022. The Company’s shares will continue to trade on Nasdaq under the symbol “MTEM”. The Nasdaq Capital Market operates in substantially the same manner as The Nasdaq Global Select Market, with issuers listed on the Capital Market tier required to meet certain financial and corporate governance requirements to qualify for continued listing. The Company intends to continue to actively monitor its compliance with the minimum closing bid price requirement and, evaluate available options to regain compliance.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Molecular Templates, Inc. | ||||||
| Date: December 2, 2022 | ||||||
| By: | /s/ Eric E. Poma, Ph.D. | |||||
| Name: | Eric E. Poma, Ph.D. | |||||
| Title: | Chief Executive Officer | |||||