February 24, 2024

Shuck it- This Shell has No Pearls

DENVER, Colo., Dec 1, 2023 (www.247marketnews.com)- 24/7 Market News reported that NexImmune (NASDAQ:NEXI) shares were blasting off, in this morning’s premarket trading. We commented that it hasn’t published news since before November, but somehow today’s volume would surely set a 52-week high, so it was set to take out multiple resistance levels along the way.

That fishy stench grew stronger when Nasdaq issued NexImmune a T-12 Halt.

Neximmune is now trading again after filing a “Failure to Satisfy Listing Rule – Form 8-K” this afternoon, confirming that NexImmune received notice from Nasdaq’s Listing Qualifications Department, on November 30, 2023, notifying Neximmune that based on Nasdaq’s review of Neximmune and pursuant to Nasdaq Listing Rule 5101, Nasdaq believes that Neximmune is a “public shell,” and that the continued listing of its securities is no longer warranted.

Neximmune must now satisfactorily appeal Nasdaq’s determination and stated that it “intends to timely request a hearing”, but there is “no assurance that the Company will ultimately be able to demonstrate compliance with all applicable listing criteria.”

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