Hoth Therapeutics Receives Notification from Nasdaq Due to Minimum Bid Price Non-Compliance

Hoth Therapeutics, Inc. (NASDAQ: HOTH) recently disclosed in a Form 8-K filing that it had received a notification from The Nasdaq Stock Market, LLC, stating that the company is currently not in compliance with the minimum bid price requirements for continued listing on The Nasdaq Capital Market.

The notification specified that according to Nasdaq Listing Rule 5550(a)(2), listed securities are required to maintain a minimum bid price of $1.00 per share. Due to the closing bid price of Hoth Therapeutics’ common stock falling below this threshold between September 18, 2024, and October 29, 2024, the company no longer meets the minimum bid price requirement.

While the Notification Letter does not immediately impact the listing or trading of Hoth Therapeutics’ common stock on Nasdaq, the company has 180 calendar days, until April 28, 2025, to regain compliance with Nasdaq Listing Rule 5550(a)(2). To comply, the bid price must maintain a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days.

Hoth Therapeutics outlined in its filing that various strategies may be employed to meet the compliance requirements, including the possibility of implementing a reverse stock split to elevate the share price to meet the stipulated threshold.

If Hoth Therapeutics fails to regain compliance by the given deadline, an additional 180-day period may be granted to meet the requirements. However, failure to do so could lead to a potential delisting of the company’s common stock. In such a scenario, Hoth Therapeutics would have an opportunity to appeal the delisting determination to a Hearings Panel.

The company remains committed to monitoring the bid price of its common stock closely and exploring available options to ensure compliance with Nasdaq Listing Rules.

This regulatory filing, as mandated by the Securities and Exchange Commission (SEC), sheds light on the current situation faced by Hoth Therapeutics regarding its Nasdaq listing compliance. Investors and stakeholders are advised to monitor further developments closely.

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

Hoth Therapeutics Company Profile

Hoth Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapies for unmet medical needs. It is involved in the development of HT-001, a topical formulation, which is in Phase II clinical trial for the treatment of patients with rash and skin disorders associated with initial and repeat courses of tyrosine kinase epidermal growth factor receptor inhibitor therapy; HT-KIT to treat mast-cell derived cancers and anaphylaxis; HT-TBI to treat traumatic brain injury and ischemic stroke; HT-ALZ for the treatment and/or prevention of Alzheimer's or other neuroinflammatory diseases; HT-004 for treatment of asthma and allergies using inhalational administration; HT-003 for the treatment of acne and psoriasis, as well as inflammatory bowel diseases; and HT-002, a novel peptide for treating COVID-19.