regulatory
confidence high
sentiment negative
materiality 0.75
Hepion Pharma receives Nasdaq delisting notice due to stockholder deficit and failure to meet listing alternatives
Hepion Pharmaceuticals, Inc.
- Stockholders' deficit of ($406,685) as of Sept 30, 2024 triggers Nasdaq Listing Rule non-compliance.
- Company fails to meet alternatives: $35M market value or $500K net income in recent fiscal years.
- Nasdaq gives 45 days to submit a compliance plan; extension of up to 180 days possible.
- Common stock (HEPA) continues trading on Nasdaq Capital Market while cure process is pending.
- No assurance that listing will be maintained; potential for hearing panel appeal if plan rejected.