ADIAL PHARMACEUTICALS, INC. (ADIL): Nasdaq/NYSE listing notice — Adial Pharmaceuticals receives Nasdaq deficiency notice but believes private placement restores compliance

ADIAL PHARMACEUTICALS, INC.

Received Nasdaq letter on Nov 21, 2023 for stockholders' equity of $2.34M below $2.5M minimum.
Private placement closed Oct 2023 raised ~$3.5M net, boosting equity above threshold.
Company believes it now satisfies the Rule and may not need to submit a compliance plan.
Nasdaq will monitor compliance at next periodic report; delisting remains possible if equity drops again.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

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

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

Exact text from the filing

November 21, 2023, Adial Pharmaceuticals, Inc. (the “Company”), received a letter from The Nasdaq Stock Market (“Nasdaq”) stating that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(1) (the “Rule”) because the stockholders’ equity of the Company of $2,339,258 as of September 30, 2023, as reported in the Company’s Quarterly Report on Form 10-Q filed with the SEC on November 14, 2023, was below the minimum requirement of $2,500,000. As of the date of this Current Report on Form 8-K, the Company does not have a market value of listed securities of $35 million, or net income fr

View on SEC.gov

20 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

ADIAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-090561

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.