Celularity Files Appeal Request and Amended Compliance Plan with Nasdaq Hearings Panel

Core Viewpoint - Celularity Inc. is seeking a hearing before the Nasdaq Hearings Panel to address its non-compliance with Nasdaq Listing Rule 5250(c)(1) and to request an extension for regaining compliance [1][2][3] Compliance Issues - Celularity received a formal notice from Nasdaq on August 22, 2024, regarding non-compliance due to delayed filings of its quarterly reports on Forms 10-Q for the periods ended March 31, 2024, and June 30, 2024 [2] - An extension was granted until October 14, 2024, but Nasdaq notified Celularity on October 16, 2024, that it would be suspended from trading on October 25, 2024, unless an appeal was filed by October 23, 2024 [2] Appeal and Compliance Plan - On October 23, 2024, Celularity filed an appeal and an amended compliance plan, which temporarily stays the suspension or delisting action [3] - The company has filed its Form 10-Q for the period ended March 31, 2024, and is preparing the Form 10-Q for the period ended June 30, 2024 [3] - The Hearings Panel may grant Celularity up to an additional 180 days to regain compliance, but there is no assurance of a successful appeal or compliance [3] Company Overview - Celularity Inc. is a regenerative medicine company focused on developing and commercializing advanced biomaterial products and placental-derived cell therapies [4] - The company's therapeutic programs target aging-related diseases, cancer, and immune disorders using various cell types derived from the postpartum placenta [4] - Celularity aims to address significant unmet global needs for effective and affordable therapies by leveraging the unique biology of the placenta [4]