Molecular Templates, Inc., a biopharmaceutical company specializing in targeted biologic therapeutics for cancer, received notification from Nasdaq on December 16, 2024, classifying them as a “public shell” due to non-compliance with Nasdaq Listing Rule 5101. This, along with failure to file their Quarterly Report on Form 10-Q and maintain a $1.00 bid price, led to the decision to delist the company's stock. Trading of their common stock was set to be suspended on December 26, 2024 unless a hearing was requested. The company decided not to appeal and expected the suspension to proceed as planned.