Lunai Bioworks Announces Receipt of Nasdaq Determination and Intention to Voluntarily Delist and Deregister
Key Highlights
- ➤Stockholders’ deficit $(9,024,946) breaches Nasdaq’s $2.5 million equity requirement
- ➤Nasdaq trading suspension expected at October 30, 2026 opening
- ➤Board approves voluntary Nasdaq withdrawal, citing financial condition and reporting costs
- ➤Form 25 filing planned around November 2; delisting expected around November 12
- ➤Lunai will not arrange over-the-counter quotation, risking no post-suspension trading market
Expert Statements
David Weinstein, Chief Executive Officer of Lunai Bioworks Inc.
“The Company does not intend to arrange for quotation of its common stock on any over-the-counter market and cannot assure that any trading market for its common stock will exist after trading on Nasdaq is suspended.”
Lunai Bioworks Announces Receipt of Nasdaq Determination and Intention to Voluntarily Delist and Deregister PR Newswire
SACRAMENTO, Calif., Oct. 22, 2026 /PRNewswire/ -- Lunai Bioworks Inc. (Nasdaq: LNAI) (the "Company") announced that on October 21, 2026, it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that the Company no longer complies with Nasdaq Listing Rule 5550(b)(1), which requires minimum stockholders' equity of $2,500,000. The Company reported a stockholders' deficit of $(9,024,946) in its Annual Report on Form 10-K for the fiscal year ended June 30, 2026, and does not meet the alternative market value of listed securities or net income standards. Because the Company is subject to a mandatory Hearings Panel Monitor under Nasdaq Listing Rule 5815(d)(4)(B), Nasdaq staff determined to delist the Company's securities. Trading in the Company's common stock on Nasdaq is expected to be suspended at the opening of business on October 30, 2026.
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