Protagenic Therapeutics Announces Receipt of Nasdaq Non-Compliance Notice
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).
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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
Details
News Market Reaction – PTGX
The recorded move for PTGX in the trading session of this news was -0.08%.
Data tracked by StockTitan Argus. Session date unavailable.
Key Figures
- Minimum equity requirement
- $2.5 million
- Nasdaq Listing Rule 5550(b)(1) stockholders’ equity threshold
- Rule 5550(b)(1)
- 5550(b)(1)
- Nasdaq listing rule cited for stockholders’ equity non-compliance
- Rule 5250(c)(1)
- 5250(c)(1)
- Nasdaq listing rule cited for delayed Form 10-Q filing
- Form 10-QT period end
- June 30, 2025
- Transition Report on Form 10-QT used for equity assessment
- Delayed Form 10-Q period
- September 30, 2025
- Quarter-end for the delayed Form 10-Q filing
- Automatic stay length
- 15 calendar days
- Nasdaq suspension automatically stayed after hearing request
Historical Context
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Q3 2025 results and multiple pipeline milestones with strong cash position.
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Announcement of multiple rusfertide presentations at the 67th ASH meeting.
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New icotrokinra data in ulcerative colitis and plaque psoriasis from conferences.
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Phase 2b ANTHEM-UC data showing strong response and remission rates.
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EADV presentations for icotrokinra and preclinical potency data for PN-881.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
Nasdaq Listing Rules 5250(c)(1) regulatory
Form 10-Q regulatory
Nasdaq Hearings Panel regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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