Pasithea Therapeutics Receives Nasdaq Delisting Notice for Minimum Bid Price Non-Compliance

Pasithea Therapeutics Corp received a Nasdaq delisting notice due to non-compliance with the $1.00 minimum bid price requirement. The company has 180 days to regain compliance, with options to extend or appeal. This notice does not affect business operations or SEC reporting requirements. Pasithea Therapeutics Corp operates in the biotechnology industry, focusing on developing medical treatments for neurological and psychiatric disorders.

Pasithea Therapeutics Corp (PTTC) has received a delisting notice from the Nasdaq due to non-compliance with the $1.00 minimum bid price requirement. The company has been given 180 days to regain compliance, with options to extend or appeal the decision. This notice does not impact the company's business operations or its obligations to the Securities and Exchange Commission (SEC).

PTTC operates in the biotechnology sector, focusing on the development of medical treatments for neurological and psychiatric disorders. The company's stock has been trading below the $1.00 threshold, which is a key requirement for listing on the Nasdaq.

The delisting notice highlights the financial challenges faced by PTTC. While the company has not yet responded to the notice, it has 180 days to address the issue and potentially avoid delisting. The company may choose to extend the deadline or appeal the decision if it can demonstrate compliance with the minimum bid price requirement.

Investors and financial professionals should closely monitor PTTC's progress in regaining compliance with the Nasdaq's listing requirements. The company's ability to meet this deadline will be crucial for its continued listing on the exchange.

References:
[1] https://investingnews.com/compass-pathways-successfully-achieves-primary-endpoint-in-first-phase-3-trial-evaluating-comp360-psilocybin-for-treatment-resistant-depression/