Veru receives Nasdaq notification on delayed quarterly report

Veru announced that it received a delinquency notification letter from the Listing Qualifications staff of the Nasdaq Stock Market LLC on February 21, 2024 due to the company’s non-compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the company’s failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2023. Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The Notice states that the company has 60 calendar days to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the company’s plan, then Nasdaq may grant the company up to 180 calendar days from the prescribed due date for filing the Form 10-Q or until August 19, 2024, to regain compliance. If Nasdaq does not accept the company’s plan, then the company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.