ADIAL PHARMACEUTICALS, INC. (ADIL): Nasdaq/NYSE listing notice — Adial Pharmaceuticals receives Nasdaq extension to regain minimum equity compliance; equity $1.44M vs $2.5M required

ADIAL PHARMACEUTICALS, INC.

Nasdaq granted extension until August 21, 2023 to file Form 10-Q to show compliance with Listing Rule 5550(b)(1).
As of March 31, 2023, stockholders' equity was $1,439,848, below the $2,500,000 minimum.
Compliance plan submitted June 28, 2023; expects to regain compliance upon Q2 10-Q filing.
If compliance not regained, Company can request a hearing; listing may be suspended or delisted.
Company monitoring equity and may consider further options to regain compliance.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

ADIAL PHARMACEUTICALS, INC. received a nasdaq extension granted notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: extension granted
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

July 7, 2023, Adial Pharmaceuticals, Inc. (the “Company”) received a letter from The Nasdaq Stock Market (“Nasdaq”) stating that the Company had been granted an extension up until August 21, 2023 to file a Form 10-Q Report for the period ended June 30, 2023 evidencing compliance with Nasdaq Listing Rule 5550(b)(1) (the “Rule”). On May 19, 2023, the Company had received a letter from Nasdaq stating that the Company was not in compliance with the Rule because the stockholders’ equity of the Company of $1,439,848 as of March 31, 2023, as reported in the Company’s Quarterly Report on Form 10-Q fil

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

ADIAL PHARMACEUTICALS, INC. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

May 19, 2023, the Company had received a letter from Nasdaq stating that the Company was not in compliance with the Rule because the stockholders’ equity of the Company of $1,439,848 as of March 31, 2023, as reported in the Company’s Quarterly Report on Form 10-Q filed with the SEC on May 12, 2023, was below the minimum requirement of $2,500,000. The notification received has no immediate effect on the Company's continued listing on the Nasdaq Capital Market, subject to the Company's compliance with the other continued listing requirements. Pursuant to Nasdaq’s Listing Rules, the Company had 4

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ADIAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-055881

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