NLS Pharmaceutics Ltd. Regains Full Compliance with Nasdaq Listing Requirements
Rhea-AI Summary
NLS Pharmaceutics (Nasdaq: NLSP) announced it has regained full compliance with Nasdaq listing requirements. The company received notice from Nasdaq confirming compliance with both the bid price requirement (Rule 5550(a)(2)) and equity requirement (Rule 5550(b)(1)). The compliance was achieved through balance sheet improvements, including capital raising and implementation of a reverse share split.
Positive
- Regained full Nasdaq listing compliance, eliminating delisting risk
- Successfully raised new capital improving balance sheet
Negative
- Implemented reverse share split, typically indicating previous share price weakness
News Market Reaction
On the day this news was published, NLSP declined 1.67%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ZURICH, SWITZERLAND / ACCESSWIRE / October 28, 2024 / NLS Pharmaceutics Ltd. (Nasdaq:NLSP)(Nasdaq:NLSPW) ("NLS" or the "Company"), a Swiss clinical-stage biopharmaceutical company focused on the discovery and development of innovative therapies for patients with rare and complex central nervous system disorders, today announced that it has received notice from the Nasdaq Stock Market LLC ("NASDAQ") informing the Company that it has regained full compliance with the bid price requirement in Listing Rule 5550(a)(2) and the equity requirement in Listing Rule 5550(b)(1).
"We are pleased to report that Nasdaq has recognized our full compliance with their listing requirements," said Alex Zwyer, Chief Executive Officer of NLS Pharmaceutics. "Their confirmation follows our successful efforts to improve our balance sheet, including raising new capital and implementing a reverse share split."
About NLS Pharmaceutics Ltd.
NLS is a global development-stage biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists, focused on the discovery and development of innovative therapies for patients with rare and complex central nervous system disorders who have unmet medical needs. Headquartered in Switzerland and founded in 2015, NLS is led by an experienced management team with a track record of developing and commercializing product candidates. For more information, please visit www.nlspharma.com.
Contact:
Investor Relations Contact
InvestorRelations@nls-pharma.com
www.nlspharma.com
SOURCE: NLS Pharmaceutics AG
View the original press release on accesswire.com
FAQ
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