PolyPid Ltd. announced on November 29, 2024, that it received a written notification from Nasdaq regarding non-compliance with the minimum stockholders' equity requirement. The company's stockholders' equity was approximately $2,158,000 as of September 30, 2024, falling below the Nasdaq Capital Market's required minimum of $2,500,000.
The company has 45 calendar days, until January 9, 2025, to submit a plan to regain compliance. If accepted, Nasdaq could grant an extension of up to 180 calendar days.
PolyPid expects to demonstrate compliance if warrants issued under its January 2024 and August 2024 private placement financings are exercised. These warrant exercises could secure an additional $18.5 million and $6.1 million, respectively, contingent on positive efficacy results from the unblinded interim analysis of the SHIELD II Phase 3 trial, which is expected in December 2024.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.