SolarMax Technology Regains Compliance with Nasdaq Listing Requirement

SolarMax Technology, Inc. recently announced in a Form 8-K filing that it has successfully regained compliance with the Nasdaq Global Market continued listing requirement. The company received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC on December 10, 2024, confirming that for ten consecutive business days from November 25, 2024, to December 9, 2024, the company’s market value of listed securities has been $50,000,000 or greater.

The notification signifies the company’s compliance with Listing Rule 5450(b)(2)(A) and marks the closure of this particular matter. However, SolarMax Technology cautioned that there is no guarantee of maintaining compliance with the mentioned listing rule in the future.

The Form 8-K filing also indicated that the company’s Chief Executive Officer, David Hsu, has duly authorized the report on behalf of SolarMax Technology, Inc.

Additionally, an attached exhibit, presentation EX-99.1, outlined plans for a Virtual Analyst and Investor Day scheduled for December 11, 2024. The presentation shed light on forward-looking statements and the company’s focus on developing transformative treatments for brain malignancies like glioblastoma.

Further details highlighted the company’s lead program, Berubicin, a novel anthracycline designed to cross the blood-brain barrier. Berubicin, developed at MD Anderson Cancer Center, has shown promise in preclinical studies, signaling its potential in treating brain tumors effectively.

The presentation also discussed TPI 287, a late-stage derivative of taxane, for the treatment of brain malignancies. With studies validating its potential in combination therapy approaches, TPI 287 has garnered regulatory designations like Fast Track and Orphan Drug status.

SolarMax Technology anticipates pivotal milestones in its clinical development pipeline, including a primary analysis of Berubicin expected in the first half of 2025. The company is committed to ongoing advancements in its drug development programs and regulatory interactions to usher in transformative treatments for brain cancer.

The filing concluded with details about the company’s investor and media relations. For further information, investors and media personnel can reach out to Jenene Thomas from JTC Team, LLC at 908.824.0775 or [email protected].

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read SolarMax Technology’s 8K filing here.

About SolarMax Technology

SolarMax Technology, Inc, through its subsidiaries, operates as an integrated solar energy company in the United States and China. The company engages in the sale and installation of photovoltaic and battery backup systems; sale of LED systems; and identifying and procuring solar farm projects for resale to third parties, as well as provision of engineering, procuring, and construction services for solar farm projects.