NeuroOne Medical Technologies Faces Delisting from Nasdaq Due to Non-Compliance

NeuroOne Medical Technologies Corporation, a Delaware-based medical technology company trading under the symbol NMTC on the Nasdaq Stock Market, recently received a notice signaling its continued non-compliance with the Minimum Bid Price Requirement. The company had previously received a Bid Price Deficiency Notice on July 11, 2024, as its common stock’s closing bid price had fallen below $1.00 per share for 30 consecutive trading days, a violation of Nasdaq Marketplace Rule 5550(a)(2).

In response to the non-compliance notice, NeuroOne had until January 7, 2025, to regain compliance with the Minimum Bid Price Requirement, as per Nasdaq Marketplace Rule 5810(c)(3)(A. However, on January 8, 2025, the company was informed by Nasdaq that it had not met the compliance requirement.

NeuroOne now faces the looming possibility of delisting from The Nasdaq Capital Market unless it appeals the delisting determination by requesting a hearing before the Nasdaq Hearings Panel. Taking this step would temporarily halt any further delisting action by Nasdaq until the conclusion of the hearing process. It’s important to note that the company’s common stock will remain listed and available for trading on Nasdaq during this period.

The company has expressed its intention to promptly request a hearing before the Panel in an effort to challenge the Staff’s determination and outline its plan to both regain and maintain compliance with the Minimum Bid Price Requirement. However, there is no certainty regarding whether NeuroOne Medical Technologies will succeed in its bid to regain compliance and retain its listing on Nasdaq.

This development underscores the challenges faced by NeuroOne Medical Technologies in meeting the Nasdaq listing requirements and maintaining its market presence. Investors and stakeholders will be closely monitoring the company’s actions as it navigates this critical juncture.

As of January 10, 2025, NeuroOne Medical Technologies Corporation’s Chief Executive Officer, David Rosa, signed off on this report.

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

NeuroOne Medical Technologies Company Profile

NeuroOne Medical Technologies Corporation, a developmental stage company, provides solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson’s disease, dystonia, essential tremors, and chronic pain due to failed back surgeries and other related neurological disorders.