NeuroOne® Regains Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

NeuroOne Medical Technologies (Nasdaq: NMTC) has regained compliance with Nasdaq Capital Market's continued listing requirements for minimum share price under Rule 5550(a)(2). The company received confirmation from Nasdaq's Listings Qualifications Hearing Department on February 3, 2025, resulting in the cancellation of a previously scheduled hearing.

The company also reported preliminary unaudited first quarter fiscal 2025 total revenue of $6.2 million, comprising $3.2 million in product revenue and a one-time $3.0 million license revenue payment. NeuroOne's CEO Dave Rosa highlighted the company's focus on their OneRF Ablation System, which is the first and only FDA-cleared device for RF ablation in the brain. The company will provide further updates during their upcoming earnings call scheduled for February 12, 2025, at 8:30 am eastern time.

Positive

• Regained Nasdaq listing compliance, eliminating delisting risk
• Record quarterly revenue of $6.2 million in Q1 FY2025
• First and only FDA-cleared RF ablation device for brain procedures

Negative

• One-time license payment of $3.0M accounts for nearly half of Q1 revenue

Insights

Financial Analyst

The announcement of NeuroOne regaining Nasdaq compliance marks a important turning point for the company, eliminating a significant overhang that typically constrains small-cap medical technology stocks. This development is particularly noteworthy when coupled with the company's record preliminary Q1 FY2025 revenue of $6.2 million.

The revenue composition reveals important insights: product revenue of $3.2 million demonstrates commercial traction for their OneRF Ablation System, while the one-time license payment of $3.0 million suggests successful monetization of their intellectual property. This dual revenue stream model - combining product sales with technology licensing - is particularly valuable for medical device companies, as it provides both recurring revenue and strategic opportunities.

The timing of these announcements, coming just before their February 12 earnings call, positions NeuroOne to build positive momentum. The company's focus on the OneRF Ablation System, being the first FDA-cleared device for RF ablation in the brain, gives them a first-mover advantage in a specialized market segment. This regulatory clearance and market position create significant barriers to entry, potentially supporting sustained growth in their product revenue stream.

EDEN PRAIRIE, Minn., Feb. 04, 2025 (GLOBE NEWSWIRE) -- NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) ("NeuroOne" or the "Company"), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders, today announced that it has regained compliance with the Nasdaq Capital Market’s continued listing standard for the minimum share price requirements under Nasdaq Listing Rule 5550(a)(2).

The Company received a letter on February 3, 2025 from the Listings Qualifications Hearing Department of Nasdaq that the Company’s bid price deficiency had been cured and that the Company was in compliance with all applicable listing standards.

Based on the foregoing, the previously scheduled Nasdaq hearing has been cancelled and the matter is now closed.

“We are pleased to announce that we have regained compliance with Nasdaq’s share price listing standards and are grateful to our shareholders for their patience during this time,” said Dave Rosa, Chief Executive Officer of NeuroOne. “We remain focused on driving sustainable shareholder value over the long term as we successfully penetrate the market with our disruptive OneRF Ablation System, the first and only FDA-cleared device for RF ablation in the brain. Following our recent announcement that preliminary unaudited first quarter fiscal 2025 total revenue increased to a record $6.2 million—which includes $3.2 million of product revenue and a one-time $3.0 million payment of license revenue—we look forward to further updating shareholders of our progress on our upcoming earnings call, which will be held February 12, 2025, at 8:30 am eastern time.”

About NeuroOne

NeuroOne Medical Technologies Corporation (Nasdaq: NMTC) is developing and commercializing minimally invasive and hi-definition solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson’s disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other related neurological disorders that may improve patient outcomes and reduce procedural costs. The Company may also pursue applications for other areas such as depression, mood disorders, pain, incontinence, high blood pressure, and artificial intelligence. For more information, visit nmtc1.com.

Forward Looking Statements

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for statements of historical fact, any information contained in this press release may be a forward–looking statement that reflects NeuroOne’s current views about future events and are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward–looking statements by the words or phrases “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “forecasts,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “target,” “seek,” “contemplate,” “continue, “focused on,” “committed to” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. Our actual future results may be materially different from what we expect due to factors largely outside our control, including risks related to whether the Company will continue to maintain compliance with all Nasdaq continued listing requirements; and other risks, uncertainties and assumptions, including those described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission. These forward–looking statements speak only as of the date of this press release and NeuroOne undertakes no obligation to revise or update any forward–looking statements for any reason, even if new information becomes available in the future.

Caution: Federal law restricts this device to sale by or on the order of a physician.

IR Contact
MZ Group – MZ North America
NMTC@mzgroup.us

FAQ

What was NeuroOne's (NMTC) total revenue for Q1 fiscal 2025?

NeuroOne reported preliminary unaudited total revenue of $6.2 million for Q1 fiscal 2025, consisting of $3.2 million in product revenue and a one-time $3.0 million license revenue payment.

When did NeuroOne (NMTC) regain Nasdaq compliance?

NeuroOne received confirmation of regaining Nasdaq compliance on February 3, 2025, after meeting the minimum share price requirements under Nasdaq Listing Rule 5550(a)(2).

What is unique about NeuroOne's (NMTC) OneRF Ablation System?

NeuroOne's OneRF Ablation System is the first and only FDA-cleared device for RF ablation in the brain.

When is NeuroOne's (NMTC) next earnings call scheduled?

NeuroOne's earnings call is scheduled for February 12, 2025, at 8:30 am eastern time.