Failure to Satisfy Listing Rule Form 8 K

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On October 21, 2024, the Nasdaq Stock Market ("Nasdaq") notified NKGen Biotech, Inc. (the "Company") that it was withdrawing the staff deficiency letter, dated September 11, 2024 (the "MVPHS Notice"), notifying the Company that, based on the market value of publicly held shares for the previous 30 consecutive business days, the Company was not in compliance with Nasdaq Listing Rule 5450(b)(2)(C), which requires the Company's listed securities to maintain a minimum market value of publicly held shares of $15,000,000.

As previously disclosed, on September 18, 2024, the Company received notice from the Nasdaq Listing Qualifications Department of Nasdaq (the "Staff") that the delisting action referenced in the of Staff's deficiency letter dated September 10, 2024, has been stayed, pending a final written decision by a hearings panel (the "Panel"). The Company's appeal of Nasdaq's determination to the Panel remains pending. The Panel will consider the Company's appeal at an oral hearing scheduled for October 31, 2024, at which time the Company will present its plan to regain compliance with the applicable listing requirements.

While the Company is pursuing this appeal, there can be no assurance that the Panel will grant the Company an additional extension period to regain compliance or that the Company will ultimately regain compliance with Nasdaq listing requirements.