NextCure Faces Potential Delisting from Nasdaq Global Select Market Due to Minimum Bid Requirement Non-Compliance

NextCure, Inc. (NASDAQ: NXTC) recently disclosed in an 8-K SEC filing received on January 31, 2025, that the company has been notified by The Nasdaq Stock Market, LLC about its failure to meet the minimum bid requirement for continued listing on the Nasdaq Global Select Market.

According to the filing, for the past 30 consecutive business days, the closing price of NextCure’s common stock dipped below $1.00 per share, which falls short of the required minimum average closing price to maintain listing eligibility under Nasdaq Listing Rule 5450(a)(1).

The notification triggers a grace period, as per Nasdaq Listing Rule 5810(c)(3)(A), giving NextCure until July 30, 2025, to rectify the deficiency. During this time, the company needs to ensure that the closing bid price of its common stock remains at or above $1.00 per share for a period of at least ten consecutive business days.

If compliance is not achieved by the end of the grace period, the company might be granted an additional 180 calendar days to meet the requirements. To be eligible for this period, NextCure must fulfill other Nasdaq listing standards, except for the bid price requirement, and submit a plan detailing how it intends to cure the deficiency, possibly through a reverse stock split if deemed necessary.

Failure to meet these conditions could result in Nasdaq delisting NextCure’s common stock. In such a scenario, the company would have the opportunity to appeal the decision through a Nasdaq Listing Qualifications Panel and request a hearing.

NextCure assured stakeholders that it is actively monitoring the stock’s bid price and exploring various avenues to regain compliance, including the consideration of a reverse stock split. However, the company cautioned that there is no certainty of regaining compliance or meeting all other Nasdaq listing prerequisites.

The receipt of the notice has not impacted the listing or trading of NextCure’s common stock on the Nasdaq Global Select Market as of now. The company emphasized that its common stock will continue to be traded on the market provided it complies with the remaining Nasdaq listing requirements.

At the time of reporting, NextCure awaits further developments as it navigates through the process of addressing the Minimum Bid Requirement deficiency to retain its listing on the Nasdaq Global Select Market.

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

About NextCure

NextCure, Inc, a clinical-stage biopharmaceutical company, engages in discovering and developing novel immunomedicines to treat cancer and other immune-related diseases by restoring normal immune function. The company is developing NC410, an immunomedicine designed to block immune suppression mediated by LAIR-1; NC762, a monoclonal antibody that binds specifically to B7-H4, a protein expressed on multiple tumor types; and NC525, a monoclonal antibody that binds to LAIR-1 to functionally kill AML blast cells and leukemic stem cells while preserving normal blood cells, including hematopoietic stem cells.