Dentsply Sirona received written notice of filing delinquency from Nasdaq last week because the company has not yet filed a Form 10-Q for the first quarter of 2022 due to an ongoing internal probe of financial reporting.

In an 8-K filing Wednesday morning, Dentsply acknowledged that it no longer complies with Nasdaq’s continued listing requirements since all companies must file timely periodic reports.

The news came one week after the company’s former CFO, Jorge Gomez, resigned from his new role at Moderna after only two days due to the ongoing probe into its financial reporting. 

Dentsply stated it is investigating the “use of incentives to sell products to distributors” during the third and fourth quarters of 2021. Specifically, the company is looking into whether those incentives were “appropriately accounted for” and whether the impact of those sales was “adequately disclosed” in its periodic reports filed with Nasdaq.

There will be no immediate impact on Dentsply since the company has 60 days to either “cure the deficiency” or “submit a plan to Nasdaq showing how it intends to regain compliance.” If Nasdaq accepts the plan, Dentsply would have its shares listed for an additional grace period of up to 180 days from the 10-Q’s due date.

The Company said it intends to file the 10-Q with Nasdaq “as soon as practicable.”