Sacramento biotech Lunai Bioworks to voluntarily delist from Nasdaq
SACRAMENTO, California — Lunai Bioworks Inc., a biotech company based in Sacramento, Sacramento County, California, announced on October 22 that it will voluntarily delist from Nasdaq and deregister. On October 21, the company received a letter from Nasdaq's Listing Qualifications Department stating that it no longer complies with Listing Rule 5550(b)(1), which requires minimum stockholders' equity of $2.5 million: the company reported a stockholders' deficit of about $9.02 million in its annual report for the fiscal year ended June 30, 2026, and does not meet the alternative market-value or net-income standards. Because the company is subject to a mandatory Hearings Panel Monitor, Nasdaq staff determined to delist its securities, and trading is expected to be suspended at the opening of business on October 30.
The company will not request a hearing. Its board approved the voluntary withdrawal on October 22, concluding that, given the staff determination and the company's financial condition, the cost of continued listing and SEC reporting is not justified. Lunai intends to file a Form 25 with the SEC on or about November 2, expects the delisting to become effective on or about November 12, and then intends to file a Form 15 to suspend its reporting obligations.
Source: GSM · USA (original Chinese edition)
Photo: 萨克拉门托塔桥资料照片。图片：Michael Grindstaff，公有领域，经Wikimedia Commons。 / The Tower Bridge in Sacramento, file photo. Photo: Michael Grindstaff, public domain, via Wikimedia Commons.
