Lyell Immunopharma (NASDAQ:LYEL) Receives Nasdaq Notification Regarding Minimum Bid Price Requirements

Lyell Immunopharma, Inc. (NASDAQ: LYEL) recently disclosed in a Form 8-K filing with the Securities and Exchange Commission that it has received a notice from the Listing Qualifications Staff of The Nasdaq Stock Market LLC. The notice, received on January 23, 2025, informed the company that for the past 33 consecutive business days, the bid price of its common stock closed below $1.00 per share, falling short of the minimum closing bid price required by Nasdaq Listing Rule 5450(a)(1).

Although the notice does not immediately impact the listing status of Lyell Immunopharma’s common stock on Nasdaq, the company now has 180 calendar days, up until July 22, 2025 (the “Compliance Date”), to regain compliance with the minimum bid price requirement. To achieve compliance, the closing bid price of the company’s common stock must be maintained at or above $1.00 per share for a minimum of 10 consecutive business days before the Compliance Date.

In the event that compliance is not attained by the stipulated deadline, Lyell Immunopharma may qualify for an additional 180 calendar day period to regain compliance. To qualify for this extension, the company would need to transfer its listing to The Nasdaq Capital Market and meet all other relevant listing standards, excluding the minimum bid price requirement. Lyell Immunopharma will have to provide written notice to Nasdaq of its commitment to address the bid price deficiency during the second compliance period. Failure to meet these requirements could lead to a delisting of the company’s common stock, against which the company maintains the right to appeal.

Lyell Immunopharma has expressed its intention to actively monitor the bid price of its common stock leading up to the Compliance Date and will consider potential actions to satisfy Nasdaq’s continued listing requirements, including a reverse stock split if deemed necessary. Nevertheless, there is no certainty as to whether the company will successfully achieve compliance with the minimum bid price requirement or fully meet other Nasdaq listing criteria.

The company cautions investors that this Current Report on Form 8-K contains forward-looking statements that involve risks and uncertainties. Lyell Immunopharma emphasizes that actual results and the timing of events may differ from anticipated outcomes due to various factors outlined in its previous filings with the SEC.

Lyell Immunopharma stated that forward-looking statements in this report are made as of the date of the filing, and the company undertakes no obligation to update such information except as necessitated by applicable law.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lyell Immunopharma’s 8K filing here.

Lyell Immunopharma Company Profile

Lyell Immunopharma, Inc, a clinical-stage cell therapy company, develops T cell reprogramming technologies for patients with solid tumors. The company develops therapies using an ex vivo genetic reprogramming technologies, such as c Jun overexpression and NR4A3 gene knockout, to endow resistance to T cell exhaustion; and an ex vivo epigenetic reprogramming technologies, including Epi R to generate population of T cells with durable stemness, and Stim R, a proprietary synthetic cell mimetic.