01/07/2025 | Press release | Distributed by Public on 01/07/2025 16:18
Item 3.01 |
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
As previously disclosed on a Current Report on Form 8-Kfiled by Sensei Biotherapeutics, Inc. (the "Company") on July 12, 2024, on July 10, 2024, the Company received a letter from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the previous 30 consecutive business days, the bid price of the Company's common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq Listing Rule 5450(a)(1). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until January 6, 2025, to regain compliance with the minimum bid price requirement. As of the date of this Current Report on Form 8-K,the Company's common stock has not regained compliance with the minimum bid price requirement.
However, the Company was notified by the Staff in a letter dated January 7, 2025 (the "Second Nasdaq Notice"), that the Company's application to transfer to the Nasdaq Capital Market was approved and the Company is eligible for an additional 180 calendar day period, or until July 7, 2025 (the "Second Compliance Date"), to regain compliance with the minimum bid price requirement. At the opening of business on January 8, 2025, the Company's common stock will be transferred to the Nasdaq Capital Market, which operates in substantially the same manner as the Nasdaq Global Select Market, where it continues to trade under the symbol "SNSE".
The Company intends to actively monitor the closing bid price of its common stock between now and the Second Compliance Date and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule, including by effecting a reverse stock split, if necessary.
If the Company does not regain compliance with the minimum bid price requirement by the Second Compliance Date, the Staff will notify the Company that its common stock will be subject to delisting. In the event of such a notification, the Company may appeal the Staff's determination to delist its common stock before the Nasdaq Listing Qualifications Panel. However, there can be no assurance that, if the Company receives a delisting notice and appeals the delisting determination, such an appeal would be successful.