2023-07-05 12:27:16 ET
- Biopharmaceutical company Timber Pharmaceuticals ( NYSE: TMBR ) said on Monday that it had received NYSE American notice on non-compliance with the stock exchange's rules related to losses.
- The company had reported losses from continuing operations and/or net losses in its four most recent fiscal years.
- The stock exchange requires a listed company's stockholders' equity to be at least $2M if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years.
- Also, NYSE American requires a listed company's stockholders' equity to be at least $4M if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years.
- The stock exchange requires the company to submit a plan of compliance by July 28.
- Source: Press Release
For further details see:
Timber Pharmaceuticals receives NYSE notice on non-compliance