Neuphoria Therapeutics Inc. Regains Compliance with Minimum Bid Price Requirement

Neuphoria Therapeutics Inc. (OTCMKTS: BNOEF) recently announced that it has successfully regained compliance with the Minimum Bid Price Requirement set forth by The Nasdaq Stock Market LLC. The company confirmed the attainment of a minimum closing bid price of its common stock, valued at $1.00 or more per share, for 10 consecutive business days spanning from December 24, 2024, to January 8, 2025. As a result, the Minimum Bid Price Requirement matter has now been resolved.

This development followed an earlier deficiency letter received by Neuphoria Therapeutics Inc. as detailed in the Current Report on Form 8-K submitted on July 16, 2024. The company had initially fallen out of compliance with the Minimum Bid Price Requirement due to the American Depositary Shares’ inability to maintain a minimum bid price of $1.00 per share over a continuous 30-day period. Subsequently, Neuphoria Therapeutics Inc. was granted a grace period of 180 calendar days, expiring on January 7, 2025, to rectify the compliance issue in alignment with Nasdaq Listing Rule 5810(c)(3)(A. Having successfully met the requirements, the matter is now officially closed.

In its filing, Neuphoria Therapeutics Inc. included forward-looking statements. These statements pertain to potential risks and uncertainties that could impact the company’s operations and performance. It is highlighted that forward-looking statements inherently involve uncertainties and actual results may vary. The company, therefore, advises against placing undue reliance on these projections, reminding investors that forward-looking statements are valid only as of their publication date. Neuphoria Therapeutics Inc. further disclaims any obligation to publicly release updates or adjustments to forward-looking statements in response to changes in expectations or circumstances.

The company, designated as an emerging growth entity, indicated its commitment to maintaining compliance with the Nasdaq listing regulations in the future, as expressed by CEO and President Spyridon Papapetropoulos. The compliance achievement marks a significant milestone for Neuphoria Therapeutics Inc., positioning the company to move forward with strengthened regulatory adherence in its market activities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bionomics’s 8K filing here.

Bionomics Company Profile

Bionomics Limited, a clinical stage biopharmaceutical company, discovers and develops novel drug candidates for the treatment of central nervous system disorders and cancers. The company's lead drug candidate includes BNC210, a negative allosteric modulator of the a7 nicotinic acetylcholine receptor, which is in phase 2 clinical trial for the treatment of social anxiety disorder and phase 2b to treat post-traumatic stress disorder.