RegulatoryApr 9, 2026, 04:16 PM
KYNTRA BIO Receives Nasdaq Delisting Notice for Failing $50M Total Assets and Revenue Requirement
AI Summary
KYNTRA BIO, INC. (KYNB) announced it received a notice from the Nasdaq Listing Qualifications Staff on April 2, 2026, indicating non-compliance with the Nasdaq Global Select Market's continued listing requirement of $50 million in total assets and total revenue. This non-compliance stems from the reclassification of FibroGen International's revenue as held for sale in discontinued operations for 2024 and 2025. The company has 45 days, until May 18, 2026, to submit a plan to regain compliance, with a potential extension of up to 180 days until September 29, 2026. The notice does not immediately affect the stock's listing, and KYNB may also consider transferring its securities to the Nasdaq Capital Market.
Key Highlights
- On April 2, 2026, Kyntra Bio received a notice from Nasdaq Listing Qualifications Staff regarding non-compliance with Listing Rule 5450(b)(3)(A).
- The company failed to meet the Nasdaq Global Select Market's continued listing requirement of $50 million in total assets and total revenue for the most recently completed fiscal year (or two of the last three).
- The non-compliance is attributed to the revenue of FibroGen International being presented as held for sale (in discontinued operations) in 2024 and 2025.
- Kyntra Bio has 45 days, until May 18, 2026, to submit a plan to regain compliance.
- If the plan is accepted, Nasdaq may grant an extension of up to 180 days, until September 29, 2026, to evidence compliance.
- The company is also considering applying to transfer its securities to the Nasdaq Capital Market.