TCRT · Alaunos Therapeutics, Inc.

This delisting notice represents a material regulatory and financial inflection point for Alaunos Therapeutics. The deficiency stems directly from its reported stockholders’ equity of $2,153,000 as of December 31, 2025 — $347,000 short of Nasdaq’s $2.5 million threshold — and reflects underlying financial strain, as confirmed by failure to meet either alternative standard: market capitalization and profitability. The 45-day window to submit a compliance plan places immediate pressure on management to articulate a credible path to equity restoration, which may involve equity financing, asset monetization, or restructuring — though the filing explicitly states there is no assurance the plan will be accepted or that compliance can be achieved. Nasdaq’s evaluation criteria — including sustainability of compliance over 12 months, past compliance history, reasons for deficiency, and overall financial condition — indicate that superficial fixes will likely be insufficient. A failure to regain compliance could impair liquidity, restrict access to capital markets, trigger covenant breaches in existing agreements, and negatively impact investor confidence and institutional eligibility. While the right to request a hearing provides procedural recourse, it does not alter the fundamental financial shortfall disclosed. Trading continuity is preserved only temporarily and is contingent on ongoing compliance with Nasdaq’s disclosure and procedural requirements.