aibioNasdaq staff says Genprex is not eligible for a bid price compliance period
Tickers GNPX
A June 10, 2026 Nasdaq letter said Genprex would be delisted unless it requested a hearing, because its stock closed under $1.00 for 30 consecutive business days and it had a reverse split on October 21, 2025.
Key facts
- Company
- Genprex, Inc. (NASDAQ: GNPX)
- News type
- Listings
- Primary source
- Genprex, Inc. 8-K (2026-06-12)
Genprex, Inc. (Nasdaq: GNPX) received a letter dated June 10, 2026 from the Listing Qualifications Staff of The Nasdaq Stock Market LLC. The letter said the company's common stock closed at less than $1.00 per share over the previous 30 consecutive business days and was not in compliance with the minimum bid price requirement in Nasdaq Listing Rule 5550(a)(2). The staff determined that the company was not eligible for any compliance period. It had therefore decided to delist the securities unless Genprex requested a hearing before a Nasdaq Hearings Panel. The company disclosed the letter in a Form 8-K filed June 12, 2026.
Why no compliance period applies
The filing cites Listing Rule 5810(c)(3)(A)(iv), which makes a company ineligible for a compliance period in certain circumstances, including when it has effected a reverse stock split over the prior one-year period. Genprex effected a reverse stock split on October 21, 2025, and by June 2026 the stock had again closed below $1.00 for 30 consecutive business days. For that reason, the staff determined the company was not eligible for a 180-day compliance period under Rule 5810(c)(3)(A) to demonstrate compliance with the bid price requirement.
Genprex said it fully intended to request a hearing on a timely basis. The request would automatically stay any suspension or delisting action by the staff while the hearing and any extension the panel grants remain pending. The company said it would continue to take definitive steps to evidence compliance, including a reverse stock split if necessary.
What the company said about the risks
The risk factor update in the filing supplements the annual report on Form 10-K for the fiscal year ended December 31, 2025, filed March 30, 2026, and the quarterly report on Form 10-Q for the quarter ended March 31, 2026, filed May 13, 2026. The company said that to regain compliance, the closing bid price must be at least $1.00 for a minimum of 10 consecutive business days, subject to the panel's discretion to extend that period.
The filing warns that announcing and implementing a reverse stock split could negatively affect the stock price, and that the price after a split may not rise proportionately or hold for any period. It also says a reduced number of shares outstanding could adversely affect liquidity. The company said delisting could have a material adverse effect on its business, reduce the price of its stock because of the loss of market efficiencies and federal preemption of state securities laws, and harm its ability to raise capital.
Business and financial position
The 10-K business section describes the Acclaim-1 trial, which combines REQORSA with Tagrisso (osimertinib) for late-stage non-small cell lung cancer with activating EGFR mutations. The Phase 2a expansion portion is enrolling, and the company expects an interim analysis in the second half of 2026. The Acclaim-3 trial pairs REQORSA with Tecentriq (atezolizumab) as maintenance therapy for small cell lung cancer. A third trial, Acclaim-2 with Keytruda, stopped enrolling after the company cited enrollment challenges. No Acclaim trial has produced a readout the sources describe beyond Phase 1, where three of twelve patients had prolonged progression-free survival and two of those three later progressed.
For the fiscal year ended December 31, 2025, the XBRL data show research and development expense of $9.4 million and a net loss of $16.2 million. For 2024, the comparable figures were $10.5 million and $21.1 million. Cash from operations was negative $15.3 million in 2025 and negative $17.9 million in 2024. Year-end cash and cash equivalents for 2024 were $1.6 million.
What comes next
The company said it intended to request a hearing and would keep monitoring its closing bid price. The filing does not state the hearing date or the outcome of any panel decision. The company reported no revenue for 2024 and used $15.3 million of cash in operations in 2025, and its own risk factor says delisting could harm its ability to raise capital.