aibioAlaunos Therapeutics gets Nasdaq delisting notice under $2,500,000 stockholders' equity rule
Tickers TCRT
Nasdaq staff told Alaunos on October 5, 2026 that its securities are subject to delisting under Listing Rule 5550(b)(1). The company plans to request a hearing and says it is working with a financial advisor on potential transactions.
Key facts
- Company
- Alaunos Therapeutics, Inc. (NASDAQ: TCRT)
- News type
- Listings
- Primary source
- Alaunos Therapeutics, Inc. Form 8-K filed October 9, 2026 (SEC EDGAR)
Alaunos Therapeutics, Inc. (Nasdaq: TCRT) received a written delisting notice from Nasdaq on October 5, 2026 because it does not meet the exchange's stockholders' equity requirement. The company reported the notice in a Form 8-K filed October 9, 2026 under Item 3.01. Holger Weis, its chief executive officer, signed the filing. Alaunos says it plans to request a hearing before the Nasdaq Hearings Panel, and that the request will stay any further suspension or delisting action until the hearing is held and any Panel extension expires.
The notice and the earlier warning
The notice came from the Listing Qualifications Staff of The Nasdaq Stock Market LLC. It says the securities are subject to delisting under Nasdaq Listing Rule 5550(b)(1), unless the company timely requests a hearing. That rule requires a minimum of $2,500,000 in stockholders' equity for continued listing on the Nasdaq Capital Market.
This is not the first notice. On April 9, 2026, the staff told Alaunos it was out of compliance with the same rule. The company then submitted a plan to regain compliance, as Nasdaq's rules require. The October notice leaves a timely hearing request as the company's route to contest delisting. The 8-K gives no stockholders' equity figure.
The hearing and the advisor
Alaunos says there is no assurance the Panel will grant its request for continued listing. It also says there is no assurance it can show compliance within any extension the Panel grants after the hearing.
The company says it is exploring strategic alternatives meant to strengthen its financial position. It is working with a financial advisor on one or more potential transactions that it believes would restore compliance. The 8-K does not name that advisor. The company warns that any transaction would depend on negotiations, due diligence, definitive agreements, approvals and closing conditions. It also says there is no assurance a transaction would be found, completed, or enough to prevent delisting.
The money
The company's 10-K, filed March 31, 2026, carries a going concern warning. It says the company must raise substantial additional funding to continue as a going concern and to advance its obesity program. The 10-K reports a 2025 net loss of $4.2 million, down from $4.7 million in 2024. Cash used in operations was $2.9 million in 2025, compared with $5.0 million in 2024. Accumulated deficit since the company's 2003 inception was $924.6 million at December 31, 2025.
Cash and cash equivalents were $1.4 million at the end of 2025, according to the quarterly report filed August 14, 2026, and $124,000 at June 30, 2026. The company had $1.1 million at the end of 2024. Reported cash was far lower at June 30, 2026 than at the end of 2025.
The business now
Alaunos describes itself as a preclinical-stage biopharmaceutical company developing orally administered small molecules for obesity and related metabolic disorders, including fatty liver disease known as MASLD. It says its program is non-hormonal and non-incretin, unlike GLP-1 drugs. On March 2, 2026, it announced preclinical proof-of-concept data for ALN1003 from two separate studies. Preclinical results are not clinical data.
The company's earlier work was in T-cell receptor therapy. The 10-K describes the closure and wind-down of its TCR-T Library Phase 1/2 trial. Alaunos now depends on that preclinical program and on a transaction it has not yet named, and it reported $124,000 in cash at June 30, 2026.