Protagenic Therapeutics Announces Receipt of Nasdaq Non-Compliance Notice
Rhea-AI Summary
Protagenic Therapeutics (Nasdaq:PTGX) received a Nasdaq non-compliance notice dated November 27, 2025, citing failure to meet Listing Rule 5550(b)(1) (minimum $2.5 million stockholders' equity) and Rule 5250(c)(1) (timely periodic filings).
Nasdaq concluded the Company's Transition Report on Form 10-QT for the period ended June 30, 2025 showed stockholders' equity below the $2.5 million threshold, and the delayed Form 10-Q for the quarter ended September 30, 2025 is a separate basis for non-compliance. Under Rule 5815 the Staff issued a delisting determination. The Company expects to file the Form 10-Q imminently and will request a hearing and an automatic 15-calendar-day stay, and may request an extended stay pending the Panel decision.
Positive
- Company expects to file the delayed Form 10-Q imminently
- Filing a hearing request triggers an automatic 15-calendar-day trading stay
Negative
- Nasdaq found stockholders' equity below the $2.5M minimum under Rule 5550(b)(1)
- Delayed Form 10-Q for quarter ended September 30, 2025 cited under Rule 5250(c)(1)
- Nasdaq issued a determination to delist securities under Rule 5815
Insights
Nasdaq has determined Protagenic Therapeutics is non‑compliant on equity and filing rules and has moved to delist pending a hearing.
Protagenic Therapeutics faces two explicit listing deficiencies: reported stockholders' equity below
The primary operational mechanism at risk is continued listing eligibility under Nasdaq rules: the Staff issued a delist determination under Rule 5815 because the company recently regained compliance but remains in a mandatory panel monitoring period. The company will present a plan at the hearing; there is no assurance the Panel will grant an extended stay or additional time for compliance.
Key items to watch closely: the actual filing of the Form 10‑Q (company says it expects to file "imminently"), the company’s hearing request timing (triggers the 15‑day automatic stay), and any Panel decision on an extended stay or relief. Relevant near‑term dates in the disclosure are the reported periods
NEW YORK, NY / ACCESS Newswire / November 27, 2025 / Protagenic Therapeutics, Inc. (Nasdaq:PTIX) (the "Company") today announced that it has received a notification letter from the Nasdaq Listing Qualifications Staff (the "Staff") indicating that the Company is not in compliance with Nasdaq Listing Rules 5550(b)(1) (minimum stockholders' equity) and 5250(c)(1) (timely filing of periodic reports).
The Staff determined that, based on the stockholders' equity reported in the Company's Transition Report on Form 10-QT for the period ended June 30, 2025, the Company no longer satisfies the minimum
Under Nasdaq Listing Rule 5815, because the Company recently regained compliance and remains subject to a mandatory panel monitoring period, the Staff has issued a determination to delist the Company's securities.
The Company will timely request a hearing before a Nasdaq Hearings Panel (the "Panel").
● | Filing the hearing request automatically stays any suspension for 15 calendar days. | |
● | The Company will also request a stay of suspension pending the Panel's decision. | |
● | During the automatic stay - and, if granted, the extended stay - the Company's stock will continue to trade on The Nasdaq Capital Market. |
There can be no assurance that the Panel will grant an extended stay or additional time for compliance. The Company intends to present its plan to address both deficiencies at the hearing.
About Protagenic Therapeutics, Inc.
Protagenic Therapeutics, Inc. (Nasdaq: PTIX) is a clinical-stage biopharmaceutical company developing therapeutics for neurological and neuropsychiatric conditions. More information is available at www.protagenic.com.
Forward-Looking Statements
Statements in this press release contain "forward-looking statements" within the meaning of the U.S. federal securities laws. Forward-looking statements can be identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential," "promise" or similar references to future periods. Examples of forward-looking statements in this current report include, without limitation, statements regarding the Company's expected filing of its Quarterly Report on Form 10-Q, the Company's planned appeal before the Panel, and the continued listing of the Company's securities pending the appeal. Forward-looking statements are statements that are not historical facts nor assurances of future performance. Instead, they are based on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties, and actual results may differ materially from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, without limitation, that there can be no assurance that the Company will file the Form 10-Q, that there can be no assurance that the Company will otherwise meet Nasdaq compliance standards, that there can be no assurance that Nasdaq will grant the Company any relief from delisting as necessary or whether the Company can agree to or ultimately meet applicable Nasdaq requirements for any such relief, and the other important factors described under the caption "Risk Factors" in the Company's filings with the SEC. Any forward-looking statement made by the Company in this current report is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, the Company expressly disclaims any obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Company Contact:
Alexander K. Arrow, MD, CFA
Chief Financial Officer
Protagenic Therapeutics, Inc.
149 Fifth Ave, Suite 500, New York, NY 10010
Tel: 213-260-4342
Email: alex.arrow@protagenic.com
SOURCE: Protagenic Therapeutics, Inc.
View the original press release on ACCESS Newswire
FAQ
What did Protagenic Therapeutics (PTGX) receive from Nasdaq on November 27, 2025?
Why did Nasdaq say Protagenic (PTGX) failed Rule 5550(b)(1)?
What immediate relief occurs when PTGX requests a Nasdaq hearing?
Will PTGX continue to trade while appealing Nasdaq's delisting decision?
What regulatory rules did Nasdaq cite in the delisting determination for PTGX?
