Molecular Templates (MTEM) has received notice from Nasdaq's Listing Qualifications Department regarding its imminent delisting. The notification, received on December 16, 2024, cites multiple compliance failures: the company has been deemed a 'public shell', failed to file its Q3 2024 10-Q report, and failed to maintain the required $1.00 minimum bid price. Trading of MTEM's common stock will be suspended on December 26, 2024. The company has decided not to appeal the delisting decision through a Nasdaq Hearings Panel hearing. Nasdaq will proceed with filing Form 25-NSE with the SEC to formally delist MTEM's securities.