Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On November 27, 2019, Conatus Pharmaceuticals Inc. (the Company) received approval from the Nasdaq
Stock Market LLC (Nasdaq) to transfer the listing of the Companys common stock from the Nasdaq Global Market to the Nasdaq Capital Market (the Approval). The Companys common stock will be transferred to the Nasdaq
Capital Market effective as of the open of business on November 29, 2019, and will continue to trade under the symbol CNAT. The Nasdaq Capital Market operates in substantially the same manner as the Nasdaq Global Market and listed
companies must meet certain financial requirements and comply with Nasdaqs corporate governance requirements.
disclosed, on May 29, 2019, the Company received a letter from the Nasdaq staff indicating that, for the last thirty consecutive business days, the bid price for the Companys common stock had closed below the minimum $1.00 per share
requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). The Company had a period of 180 calendar days, or until November 25, 2019, to regain compliance. On November 25, 2019, the Company filed an
application to transfer the listing of its common stock from the Nasdaq Global Market to the Nasdaq Capital Market.
In connection with
the Approval, the Company has been granted an additional 180-day grace period, until May 25, 2020, to regain compliance with the minimum $1.00 per share requirement for continued listing on the Nasdaq
Capital Market under Nasdaq Listing Rule 5810(c)(3)(A). If compliance cannot be demonstrated by May 25, 2020, or the Company does not comply with the terms of this extension, the Nasdaq staff will provide written notification that the
Companys securities will be delisted. In the event of such a notification, the Company may appeal the Nasdaq staffs determination to delist its securities, but there can be no assurance the Nasdaq staff would grant the Companys
request for continued listing.