Revelation Biosciences, Inc. announced that the Nasdaq Hearings Panel issued a decision granting the company's request for continued listing on The Nasdaq Stock Market. This decision is subject to the company's common stock trading at or above $1.00 for at least ten consecutive trading days. The deadline for achieving this compliance is February 14, 2025.
The Nasdaq Hearings Panel also confirmed that Revelation Biosciences has regained compliance with the Equity Requirement of Listing Rule 5550(b)(1). The company had previously received a notice of delisting for failure to comply with this equity requirement on August 14, 2024. This conditional approval provides a pathway for the company to maintain its listing.
The company's CEO, James Rolke, expressed gratitude for the panel's recognition of the progress made since the SPAC merger. With this compliance issue addressed, Revelation Biosciences plans to focus on the development of Gemini and anticipates initiating its Phase 1b clinical study in chronic kidney patients shortly. This development is crucial for maintaining investor access to the company's shares.
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