HCW Biologics Receives Nasdaq Delisting Notice for Bid Price Deficiency
HCW Biologics Inc. disclosed in an 8-K that Nasdaq notified the company it no longer meets the minimum bid price requirement under Listing Rule 5550(a)(2). The notice starts a 180-day compliance period that ends Nov. 28, 2026, after which the stock faces potential delisting if the $1.00 closing bid price is not regained.
benzinga.comHCW Biologics Inc. (HCWB) received a notice from The Nasdaq Capital Market on May 29, 2026, stating that the company’s common stock failed to maintain a minimum bid price of $1.00 for 30 consecutive business days, according to an 8-K filed with the SEC on June 1, 2026.
The filing triggers Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule. Under Nasdaq Listing Rule 5550(a)(2), a company must sustain a $1.00 minimum closing bid price. HCW Biologics now has 180 calendar days from the notification date, until Nov.
28, 2026, to regain compliance by achieving a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.
Prior to the notice the company traded on Nasdaq without a deficiency flag. The new state places the stock under formal non-compliance status. If HCW Biologics meets the 10-day price test before the deadline, Nasdaq will confirm compliance and the matter closes.
If not, the company will receive a delisting determination letter and the stock will be scheduled for removal from The Nasdaq Capital Market unless a hearing is requested.
The delisting notice sets two immediate operational triggers. First, HCW Biologics must disclose the notice and any material updates in future SEC filings. Second, the company must decide by the end of the 180-day period whether to apply for a second 180-day extension, which requires meeting additional Nasdaq criteria including a $5 million market value of listed securities and timely filing of all required reports.
Failure to regain compliance or secure an extension would force the company to trade on over-the-counter markets, directly affecting liquidity, institutional investor eligibility, and margin treatment for shareholders.
This marks the first public delisting notice for HCW Biologics since its 2021 IPO. The company, which develops immunotherapies for cancer and autoimmune diseases, had 41.4 million shares outstanding as of its most recent quarterly report.
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