Filing Category: Delisting/Non-Compliance

Analyst Summary

• Tiziana Life Sciences has received notification from Nasdaq that it has regained compliance with the minimum bid price requirement.
• The company was previously notified on January 29, 2025, that it was not in compliance with the minimum bid price rule.
• To regain compliance, the company maintained a minimum closing bid price of $1.00 or more for at least ten consecutive trading days, which was met on March 12, 2025.
• Tiziana’s lead candidate, intranasal foralumab, is currently being studied in a Phase 2a trial for non-active secondary progressive multiple sclerosis.
• The FDA has recently allowed an additional 20 patients to be enrolled in the Expanded Access program for Foralumab.

Analyst Summary

• Gryphon Digital Mining, Inc. received a notice from Nasdaq on March 13, 2025, regarding non-compliance with Nasdaq Listing Rule 5550(b)(2) because its Market Value of Listed Securities (MVLS) fell below the required minimum of $35 million.
• The company was initially given until March 12, 2025, to regain compliance, but failed to do so.
• The company will present a compliance plan to a Nasdaq Hearing Panel on April 15, 2025, seeking an extension to execute and demonstrate compliance.
• The company’s common stock will continue to trade on The Nasdaq Capital Market pending the Panel’s decision and any extension granted.

Potential Implications

Stock Price

• The delisting notice could negatively impact the company’s stock price due to decreased investor confidence and potential forced selling by institutional investors.
• The outcome of the Nasdaq Hearing Panel’s decision on April 15, 2025, will likely significantly influence the stock price, with a favorable decision potentially stabilizing or increasing the price, and an unfavorable decision potentially leading to further declines.

Analyst Summary

• Moolec Science SA received a Nasdaq Staff Determination Letter for not meeting the minimum bid price requirement of $1.00 per share.
• The company’s stock price remained below $1.00 for over 30 consecutive business days as of September 10, 2024, and failed to recover above $1.00 for more than 10 consecutive business days.
• Moolec is not eligible for a second 180-day compliance period due to not meeting the $5,000,000 minimum stockholders’ equity requirement.
• The company has appealed the determination and intends to present a plan to regain compliance by executing a reverse share split.
• The appeal stays any potential delisting and the filing of Form 25-NSE pending the Hearings Panel’s decision.
• The board of directors resolved to convene an extraordinary shareholders meeting to vote on the reverse share split.
• Moolec is committed to complying with Nasdaq Listing Rule 5550(a)(2) and is in close contact with Nasdaq staff.

Potential Implications

Stock Price

• The potential delisting could negatively impact the stock price if the company fails to regain compliance.
• The reverse share split, if approved and implemented, could temporarily increase the stock price.
• Uncertainty surrounding the Nasdaq compliance and potential delisting could lead to stock price volatility.

Analyst Summary

• Patria Latin American Opportunity Acquisition Corp. received a delisting notice from Nasdaq on March 10, 2025.
• The delisting is due to non-compliance with Nasdaq’s IM-5101-2 rule, requiring a business combination within 36 months of the IPO.
• The company’s securities will be suspended and delisted from The Nasdaq Global Market on March 17, 2025.
• Nasdaq will file a Form 25-NSE with the SEC to remove the company’s securities from listing and registration.

Potential Implications

Stock Price

• Delisting from Nasdaq could negatively impact the company’s stock price due to reduced liquidity and investor confidence.

Analyst Summary

• Sharps Technology Inc. was notified by Nasdaq on March 12, 2025, that it does not comply with Nasdaq Listing Rule 5550(a)(2) because its bid price closed below $1.00 per share for 30 consecutive business days.
• The company is ineligible for the standard 180-day compliance period due to a prior reverse stock split within the past year.
• Sharps Technology intends to request a hearing before the Nasdaq Hearings Panel to appeal the delisting determination and present its plan to regain compliance.
• There is no assurance that the company will be able to demonstrate compliance with the minimum bid price rule or other listing requirements.
• The company’s common stock and warrants are expected to remain listed on Nasdaq under the symbols ‘STSS’ and ‘STSSW’ pending the outcome of the hearing.

Potential Implications

Stock Price

• The notification of non-compliance and potential delisting could negatively impact the company’s stock price.
• The outcome of the hearing and the company’s ability to regain compliance will likely influence investor sentiment and stock performance.

Analyst Summary

• Global Star Acquisition Inc. received a delisting notice from Nasdaq for failing to meet the minimum holder and publicly held shares requirements.
• The company withdrew its appeal of the delisting determination.
• Trading of the company’s securities will be suspended on March 14, 2025.

Potential Implications

Stock Price

• Delisting from Nasdaq could negatively impact the stock price due to reduced liquidity and investor confidence.

Analyst Summary

• Trinity Biotech received a notification from Nasdaq regarding non-compliance with Listing Rule 5450(a)(1), which requires a minimum bid price of US $1.00 per share.
• The company also received a notice for not meeting the requirement in Nasdaq Listing Rule 5450(b) to maintain a minimum market value of publicly held shares (MVPHS) of US $15,000,000.
• Trinity Biotech has until September 10, 2025, to regain compliance with both the minimum bid price and MVPHS requirements.
• The company’s ADSs will continue to trade on the Nasdaq Global Select Market under the symbol “TRIB” during the compliance period.
• Management intends to actively monitor the bid price and MVPHS and is evaluating options to regain compliance and maintain its listing.
• The company’s business operations are not affected by these notices.

Potential Implications

Stock Price

• Failure to regain compliance with Nasdaq listing requirements could lead to delisting from the Nasdaq Global Select Market.
• The stock price may be volatile during the compliance period as the company attempts to meet the minimum bid price and MVPHS requirements.

Analyst Summary

• Bannix Acquisition Corp. received a letter from the Nasdaq Hearings Panel on March 13, 2025, notifying the Company that it will be suspended from trading on The Nasdaq Capital Market.
• The delisting is due to the Company’s inability to satisfy the terms outlined in the Nasdaq Hearings Panel’s December 2, 2024 decision.
• Trading in the Company’s securities is expected to move to the OTCQB Venture Market at the open of trading on March 17, 2025, under the current trading symbols of BNIX, BNIXR and BNIXW.

Potential Implications

Stock Price

• Delisting from Nasdaq and moving to the OTCQB Venture Market may negatively impact the stock price due to reduced visibility and liquidity.