Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On June 2, 2022, Zosano Pharma Corporation (the "Company") received written
notice from The Nasdaq Stock Market LLC ("Nasdaq") indicating that as a result
of the Company's June 1, 2022 filing for protection under Chapter 11 of the U.S.
Bankruptcy Code (the "Filing"), a review of publicly available information and
in accordance with Listing Rules 5101, 5110(b) and IM-5101-1, it determined that
the Company's securities will be delisted from Nasdaq. Trading of the Company's
common stock will be suspended at the opening of business on June 13, 2022, and
a Form 25-NSE will be filed with the Securities and Exchange Commission, which
will remove the Company's securities from listing and registration on The Nasdaq
Stock Market.
Nasdaq's determination is based on the Filing and associated public interest
concerns raised by it; concerns regarding the residual equity interest of the
existing listed securities holders; and concerns about the Company's ability to
sustain compliance with all requirements for continued listing on The Nasdaq
Stock Market.
The Company may appeal Nasdaq's determination, pursuant to the procedures set
forth in the Nasdaq Listing Rule 5800 Series for a fee of $10,000 and no later
than 4:00 p,m. Eastern Time on June 9, 2022. Even if the Company were to appeal
Nasdaq's determination, there can be no assurance that Nasdaq would grant the
Company's request for continued listing.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
ZOSANO PHARMA CORPORATION 
