NeuroSense Seeks Nasdaq Hearing After Missing Market-Value Rule

NeuroSense Therapeutics said Nasdaq found it had not met the $35 million minimum market-value requirement for continued listing. The company plans to appeal and seek more time to comply.

Nasdaq notified NeuroSense in April that its market value had been below the threshold for 30 consecutive trading days. The company had until Sept. 29 to regain compliance, but did not meet that deadline. Its ordinary shares and warrants face delisting unless it appeals.

NeuroSense intends to request a hearing before a Nasdaq panel. Under Nasdaq rules, a timely request would pause the suspension of its securities while the panel considers the case. The panel may grant an exception of up to 180 days from the Oct. 1 determination.

While the hearing process is pending, the shares and warrants are expected to keep trading on Nasdaq as NRSN and NRSNW. NeuroSense said the market-value requirement was the only continued-listing criterion cited in the determination.

The company also said Nasdaq confirmed it had regained compliance with the $1 minimum bid-price rule. After a 1-for-20 reverse share split, its closing bid price was at least $1 for 10 consecutive business days, from Sept. 15 through Sept. 28. NeuroSense said it plans to present the panel with a plan to meet the remaining listing requirement.