Leap therapeutics receives non-compliance notice from nasdaq

On november 19, 2019, leap therapeutics, inc. (the “company”) received a notification letter (the “notice”) from the nasdaq stock market (“nasdaq”) indicating that the company’s stockholders’ equity of $5,562,000, as reported in its quarterly report on form 10-q for the quarter ended september 30, 2019, does not satisfy the nasdaq global market continued listing requirement set forth in nasdaq listing rule 5450(b)(1)(a), which requires companies listed on the nasdaq global market to maintain a minimum of $10,000,000 in stockholders’ equity. the notice has no immediate effect on the listing of the company’s common stock, and its common stock will continue to trade on the nasdaq global market under the symbol “lptx” at this time. the company has 45 calendar days from the date of the notice to submit to nasdaq a plan to regain compliance with the nasdaq listing rule 5450(b)(1)(a). the company currently anticipates timely submitting such a plan to nasdaq. if the company’s plan is accepted, nasdaq may grant an extension of up to 180 calendar days from the date of the notice for the company to provide evidence of compliance. if the plan is not accepted or the company is not granted an extension, the company will then consider actions appropriate to the circumstances, which may include applicable appeals to a nasdaq listing qualifications panel. there can be no assurance that the company will be able to regain compliance with the nasdaq listing rule 5450(b)(1)(a).
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