Celularity receives Nasdaq listing non-compliance notice

Celularity (CELU) received notification from the Nasdaq Listing Qualifications department stating that the company does not comply with the Nasdaq continued listing requirements due to the company’s inability to timely file its Quarterly Report on Form 10-Q for the period ended September 30. Nasdaq’s notice has no immediate effect on the listing of Celularity’s common stock and warrants. The company is required to submit to Nasdaq a plan to regain compliance with respect to its delinquent report by no later than January 20, 2025, and if accepted, the company has until May 13, 2025, to implement the plan to regain compliance. The company intends to submit a plan to Nasdaq by no later than January 20, 2025 and will evaluate available options to regain compliance within the compliance period. The filing delay of the Q3 Form 10-Q primarily results from the backlog associated with the company’s efforts to become current on its previous filings, including the Forms 10-Q for Q1 and Q2 2024, which were filed recently.