Eyenovia Regains Compliance with All Nasdaq Continued Listing Requirements
Rhea-AI Summary
Eyenovia (NASDAQ: EYEN) has successfully regained compliance with all Nasdaq Capital Market continued listing requirements, including the minimum bid price requirement rule (Rule 5550(a)(2)) and the low priced stocks rule (Rule 5810(c)(3)(A)(iii)). The compliance was achieved following a recently approved reverse stock split.
CEO Michael Rowe emphasized that maintaining the Nasdaq listing, combined with company restructuring efforts and accelerated development of the user-filled Optejet® device, represents significant milestones as they continue to explore strategic alternatives to maximize shareholder value.
Positive
- Regained full Nasdaq listing compliance
- Avoided potential delisting risk
- Successfully implemented reverse stock split
Negative
- Required reverse stock split to maintain listing
- Company under restructuring
- Still evaluating strategic alternatives indicating uncertainty
News Market Reaction – EYEN
In the trading session that priced this news, EYEN gained 16.56%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Eyenovia, Inc. (NASDAQ: EYEN) (“Eyenovia” or the “Company"), an ophthalmic technology company focused on completing development of its proprietary Optejet® device, today announced that it has been informed by staff of The Nasdaq Stock Market LLC that the Company has regained compliance with all Nasdaq Capital Market continued listing requirements, including Nasdaq Listing Rule 5550(a)(2), the minimum bid price requirement rule, and Listing Rule 5810(c)(3)(A)(iii), the low priced stocks rule.
“Maintaining our Nasdaq listing, along with other steps we have taken to restructure the company and accelerate development of the user-filled Optejet, represent important milestones as we continue to evaluate a broad range of strategic alternatives and maximize shareholder value,” stated Michael Rowe, Chief Executive Officer. “We are grateful to our shareholders who approved of our recent decision to effect a reverse stock split that made it possible for us to regain compliance with the Nasdaq continued listing requirements.”
About Eyenovia, Inc.
Eyenovia, Inc. is an ophthalmic technology company developing its proprietary Optejet topical ophthalmic medication dispensing platform. The Optejet is especially useful in chronic front-of-the-eye diseases due to its ease of use, enhanced safety and tolerability, and potential for superior compliance versus standard eye drops. Together, these benefits may combine to produce better treatment options and outcomes for patients and providers. For more information, please visit Eyenovia.com.
Forward Looking Statements
Except for historical information, all the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions, including those relating to the estimated market opportunities for our platform technology, the timing for sales growth of our approved products, and the outcome of the process to explore strategic alternatives to maximize shareholder value. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the U.S. Securities and Exchange Commission.
In addition, such statements could be affected by risks and uncertainties related to, among other things: risks of our clinical trials, including, but not limited to, the potential advantages of our products, and platform technology; the rate and degree of market acceptance and clinical utility of our products; our estimates regarding the potential market opportunity for our products; reliance on third parties to develop and commercialize our products; the ability of us and our partners to timely develop, implement and maintain manufacturing, commercialization and marketing capabilities and strategies for our products; intellectual property risks; changes in legal, regulatory, legislative and geopolitical environments in the markets in which we operate and the impact of these changes on our ability to obtain regulatory approval for our products and product candidates; our competitive position; and our ability to raise additional funds and to make payments on our debt obligations as and when necessary.
Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, Eyenovia does not undertake any obligation to update any forward-looking statements.
Eyenovia Contact:
Eyenovia, Inc.
Norbert Lowe
Vice President, Commercial Operations
admin@eyenovia.com
Eyenovia Investor Contact:
Eric Ribner
LifeSci Advisors, LLC
eric@lifesciadvisors.com
(646) 751-4363
