- Swiss biopharma NLS Pharmaceutics ( NASDAQ: NLSP ) added ~8% on Monday after announcing that the Nasdaq approved the company’s request for continued listing subject to certain conditions.
- According to a letter sent by the Nasdaq, the continued listing depends on the company’s ability to timely submit the financial statements and keep at least $2.5M in shareholders’ equity.
- During the exception period, NLS ( NLSP ) will also be required to promptly disclose any event that could impact its compliance with Nasdaq requirements, including the terms for the exception.
- Last month, the company announced it would be subject to delisting if it could not secure a hearing from Nasdaq.
- NLS ( NLSP ) has an overall rating of Buy on Wall Street, and the company shares have plunged ~76% over the past 12 months, as indicated in this graph.
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NLS Pharma says Nasdaq granted request for continued listing