Delisting Determination, The Nasdaq Stock Market, LLC, October 27, 2022,
Evofem Biosciences, Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the common stock of Evofem Biosciences, Inc., effective
at the opening of the trading session on November 7, 2022.
Based on review of information provided by the Company, Nasdaq Staff
determined that the Company no longer qualified for listing on the
Exchange pursuant to Listing Rule 5550(a)(2).
The Company was notified of the Staff determination on February 22,
2022. The Company appealed the determination to a Hearings Panel
(Panel) on March 1, 2022.
On April 6, 2022, the Panel granted the Company request to remain
listed subject to certain conditions. The Panel subsequently
granted the Company extensions to demonstrate compliance with the
Exchange continued listing requirements. On August 9, 2022, the Panel
issued a delist decision based on the Company inability to demonstrate
bid price compliance and notified the Company that trading in the
Company securities would be suspended on August 11, 2022. The Company
did not appeal the Panel decision to the Nasdaq Listing and Hearing
Review Council (Council) and the Council did not call the matter for
review. The Staff determination to delist the Company common stock
became final on September 23, 2022.