Nkgen biotech receives notification from nasdaq related to delayed quarterly report

Santa ana, calif., aug. 22, 2024 (globe newswire) -- nkgen biotech, inc. (nasdaq: nkgn) (“nkgen” or the “company”), today announced it received a standard notice (the “notice”) on august 20, 2024 from the listing qualifications department of the nasdaq stock market (“nasdaq”) stating that the company is not in compliance with nasdaq listing rule 5250(c)(1) (the “rule”) because it had not timely filed its quarterly report on form 10-q for the period ended june 30, 2024 (the “form 10-q”) with the securities and exchange commission (the “sec”) on or before august 19, 2024, the extended period provided for the filing under rule 12b-25(b) of the securities exchange act of 1934, as amended. the delay is in part due to the recent change in the company's independent registered public accounting firm and its valuation firm. the notice indicated that the company has 60 calendar days, or until october 21, 2024, to submit a plan to regain compliance and that nasdaq can grant an exception of up to 180 calendar days from the form 10-q due date, or until february 18, 2025, to regain compliance. the notice from nasdaq has no immediate effect on the listing or trading of the company's common stock on the nasdaq global market.
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