Regained Compliance with Minimum Bid Price Requirement
As previously disclosed by Catalyst Biosciences, Inc., a Delaware Corporation (the “Company”) on that certain Current Report on Form 8-K filed on February 18, 2022, with the U.S. Securities and Exchange Commission (the “SEC”), on February 16, 2021, the Company received a letter (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) informing the Company that because the closing bid price for the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company is not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Notice provided the Company 180 calendar days, or until August 15, 2022, to regain compliance with the Minimum Bid Price Requirement.
On June 7, 2022, the Company received a letter (the “Compliance Letter”) from the Listing Qualifications department of Nasdaq notifying the Company that it has regained compliance with the Minimum Bid Price Requirement. The Compliance Letter noted that (i) the Company’s common stock had a closing bid price of $1.00 or greater for ten consecutive trading days from May 23, 2022 through June 6, 2022, and (ii) the Company has regained compliance with the Minimum Bid Price Requirement. Accordingly, Nasdaq considers the matter closed.
Date of Annual Meeting and Deadline for Stockholder Proposals
The Company will hold the Company’s 2022 Annual Meeting of Stockholders (the “2022 Annual Meeting”) on August 15, 2022. The record date for the 2022 Annual Meeting has been set as the close of business on July 15, 2022. Other details regarding the 2022 Annual Meeting will be specified in the forthcoming proxy statement related to the 2022 Annual Meeting.
Because the date of the 2022 Annual Meeting is more than 30 days from the anniversary of the Company’s 2021 Annual Meeting of Stockholders, the Company has set a new deadline for the receipt of stockholder proposals submitted pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) for inclusion in the Company’s proxy materials for the 2022 Annual Meeting. In order to be considered timely, such proposals must be received by the Company’s Secretary no later than June 18, 2022, which the Company determined to be a reasonable time before it expects to begin to print and send the proxy statement related to the 2022 Annual Meeting. Any proposal submitted after the above deadline will not be considered timely and will be excluded from the Company’s proxy materials. Proposals of stockholders must also comply with rules of the SEC regarding the inclusion of stockholder proposals in proxy materials and the Company may omit from its proxy materials any proposal that does not comply with the SEC’s rules.
Any stockholder seeking to submit proposals outside of Exchange Act Rule 14a-8 or to nominate a director must provide timely notice, as set forth in the Company’s Bylaws. Specifically, written notice of any proposed business or nomination must be received by the Company’s Secretary no later than the close of business on June 18, 2022. Any notice of proposed business or nomination must comply with the specific requirements set forth in the Company’s Bylaws.