09/12/2025 | Press release | Distributed by Public on 09/12/2025 14:28
Item 3.01 |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On September 11, 2025, Adaptimmune Therapeutics plc (the "Company") received a written notice (the "Notice") from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the last 32 consecutive business days prior to the date of the Notice, the Company's Market Value of Listed Securities ("MVLS") was less than the $35.0 million minimum required for continued listing on The Nasdaq Capital Market, as required by Nasdaq Listing Rule 5550(b)(2) (the "MVLS Listing Rule"). Additionally, as of the date of the Notice, the Company did not meet either of the alternative Nasdaq continued listing standards under the Nasdaq Listing Rules: stockholders' equity of at least $2.5 million or net income of $500,000 from continuing operations in the most recently completed fiscal year or in two of the three most recently completed fiscal years. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days, or until March 10, 2026, to regain compliance with the MVLS Listing Rule. In order to regain compliance with the MVLS Listing Rule, the Company's MVLS must meet or exceed $35.0 million for a minimum of ten consecutive business days during the 180-day compliance period after which the Staff will provide to the Company written confirmation of compliance and the matter will be closed. In the event the Company does not regain compliance with the MVLS Listing Rule during the 180-day compliance period, the Staff will provide the Company notice that the Company's securities will be subject to delisting, at which time, the Company may appeal the delisting determination to a Nasdaq hearings panel.
The Notice has no immediate effect on the listing or trading of the Company's American Depositary Shares ("ADSs") on The Nasdaq Capital Market. However, if the Company fails to timely regain compliance with the MVLS Listing Rule by March 10, 2026, the Company's ADSs will be subject to delisting from Nasdaq at which time the Company may appeal the delisting determination to a Nasdaq hearings panel. The Company will continue to monitor its MVLS and consider its available options to regain compliance with the MVLS Listing Rule. There can be no assurance that the Company will regain compliance with the MVLS Listing Rule or otherwise maintain compliance with any of the other Nasdaq listing requirements.