Just to clear this up — Chimeric Therapeutics was not suspended...

Just to clear this up — Chimeric Therapeutics was not suspended by the ASX in October 2024 due to insufficient cash.

The actual reason for the suspension was that Chimeric failed to lodge its audited annual report by the 30 September deadline, which is a breach of ASX Listing Rule 17.5. It’s standard procedure — any company that misses a reporting deadline gets suspended until they comply. Chimeric remained suspended until 22 October, when the overdue report was finally lodged. The Company stated this: "The Company advises that the release of its 2024 Annual Report has been delayed pending an announcement by the Company in relation to a proposed capital raise."

Now, to the second point:

Yes — the ASX can suspend a company under Listing Rule 12.2 if it believes the company doesn’t have sufficient financial resources to warrant continued quotation.

When a company lodges its Appendix 4C (quarterly cash flow report), they are required to state whether they have at least two quarters of funding remaining. If they don’t, they must also explain how they intend to continue operating — through capital raisings, cost-cutting, or other strategies. If that explanation is missing or inadequate, the ASX can (and sometimes does) suspend the company from trading.