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NeuroSense Announces Receipt of Nasdaq Notice Regarding Minimum Stockholders' Equity Requirement
This notification has no immediate effect on the listing or trading of NeuroSense's ordinary shares on the Nasdaq Capital MarketCAMBRIDGE, Mass., Dec. 27,
About this update from Neurosense Therapeutics Ltd.
[{"type":"text","content":"This notification has no immediate effect on the listing or trading of NeuroSense's ordinary shares on the Nasdaq Capital MarketCAMBRIDGE, Mass., Dec. 27, 2023 /PRNewswire/ -- NeuroSense Therapeutics Ltd. (Nasdaq: NRSN) (\"NeuroSense\" or the \"Company\"), a company developing treatments for severe neurodegenerative diseases, today announced that it has received a notification from the Listing Qualifications Department of the Nasdaq Stock Market LLC (\"Nasdaq\") advising the Company that it no longer satisfied the minimum $2.5 million stockholders' equity requirement for continued listing on Nasdaq set forth in Nasdaq Listing Rule 5550(b)(1) (the \"Minimum Equity Rule\") or, alternatively, the requirement that the Company either maintain a market value of listed securities of at least $35 million or generate net income from continuing operations of $500,000 in the most recently completed fiscal year or two of the last three most recently completed fiscal years.\n\nThe notification from Nasdaq, received on December 21, 2023, has no immediate effect on NeuroSense's business or the listing or trading of NeuroSense's ordinary shares which continue to trade on the Nasdaq Capital Market under the symbol \"NRSN.\"\nNeuroSense has 45 days from the date of the notice, or until February 5, 2024, to submit to Nasdaq a plan to regain compliance with the Minimum Equity Rule or an alternative continued listing standard. If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the notice, or until June 18, 2024, for the Company to regain compliance.\nAlon Ben-Noon, NeuroSense's CEO stated, \"The recent positive results we received from our ALS Phase 2b clinical trial are highly encouraging and have the potential to open new opportunities for the Company. We are currently working on a plan to submit to Nasdaq and intend to regain compliance with Nasdaq's listing rules within the allotted timeframe. This notification does not affect our ongoing operations or our commitment to advance PrimeC towards the market.\"\nAbout ALS\nAmyotrophic lateral sclerosis (\"ALS\") is an incurable neurodegenerative disease that causes complete paralysis and death within 2-5 years from diagnosis. Every year, more than 5,000 patients are diagnosed with ALS in the U.S. alone, with an annual disease burden of $1 billion. The n...