Hoth Therapeutics Regains Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

Hoth Therapeutics, Inc. (NASDAQ: HOTH) announced on November 9, 2022, that it has regained compliance with NASDAQ Listing Rule 5550(a)(2) regarding minimum bid price requirements. This follows a notice received on December 30, 2021, indicating that the company's stock had fallen below the $1.00 minimum bid price. The company achieved compliance by maintaining a closing bid price of $1.00 or greater for ten consecutive business days, from October 26 to November 8, 2022.

Positive

• Regained compliance with NASDAQ minimum bid price requirement.
• Maintained closing bid price of $1.00 or greater for ten consecutive days.

Negative

• Previously notified by NASDAQ about falling below minimum bid price.

NEW YORK, Nov. 9, 2022 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient-focused biopharmaceutical company, today announced that it received written notice from the NASDAQ Stock Market LLC (NASDAQ) on November 9, 2022, informing the Company that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on the NASDAQ Capital Market.

On December 30, 2021, NASDAQ notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. Since then, NASDAQ has determined that for the last 10 consecutive business days, from October 26 through November 8, 2022, the closing bid price of the Company's common stock has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2), and this matter is now closed.

About Hoth Therapeutics, Inc. 

Hoth Therapeutics is a clinical-stage biopharmaceutical company dedicated to develop innovative, impactful, and ground-breaking treatments with a goal to improve patient quality of life. We are a catalyst in early-stage pharmaceutical research and development, elevating drugs from the bench to pre-clinical and clinical testing. Utilizing a patient-centric approach, we collaborate and partner with a team of scientists, clinicians, and key opinion leaders to seek out and investigate medications that hold immense potential to create breakthroughs and diversify treatment options. To learn more, please visit https://ir.hoththerapeutics.com/.

Investor Contact: 
LR Advisors LLC 
Email: investorrelations@hoththerapeutics.com 
www.hoththerapeutics.com 
Phone: (678) 570-6791

View original content to download multimedia:https://www.prnewswire.com/news-releases/hoth-therapeutics-regains-compliance-with-nasdaq-listing-requirements-301673351.html

SOURCE Hoth Therapeutics, Inc.

FAQ

When did Hoth Therapeutics regain compliance with NASDAQ listing requirements?

Hoth Therapeutics regained compliance on November 9, 2022.

What triggered the notification from NASDAQ to Hoth Therapeutics?

The notification was triggered because Hoth's common stock failed to maintain a minimum bid price of $1.00 over 30 consecutive business days.

How long did Hoth Therapeutics maintain the required bid price for compliance?

Hoth maintained the required bid price for ten consecutive business days from October 26 to November 8, 2022.

What is the stock symbol for Hoth Therapeutics?

The stock symbol for Hoth Therapeutics is HOTH.