NeuroSense Regains Compliance with NASDAQ Minimum Bid Price Rule
Rhea-AI Summary
NeuroSense Therapeutics (Nasdaq: NRSN) has regained compliance with Nasdaq's minimum bid price requirement. The company, which develops treatments for severe neurodegenerative diseases, received notice from Nasdaq confirming that it has met the Rule 5550(a)(2) criteria. To achieve this, NeuroSense's ordinary shares maintained a minimum closing bid price of $1.00 or more for at least 10 consecutive business days, accomplished on September 20, 2024.
CEO Alon Ben-Noon expressed satisfaction with this development, viewing it as an important step that reflects the company's commitment to advancing PrimeC. He also mentioned positive momentum following Phase 2b trial results and plans to initiate a Phase 3 trial in the US, along with ongoing discussions with potential partners.
Positive
- Regained compliance with Nasdaq's minimum bid price requirement
- Positive momentum from Phase 2b trial results
- Plans to initiate Phase 3 trial in the US
- Ongoing discussions with potential partners
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, NRSN declined 3.50%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
To regain compliance with the Rule, the Company's ordinary shares were required to maintain a minimum closing bid price of
NeuroSense's CEO, Alon Ben-Noon said, " We are pleased to have regained compliance with Nasdaq's minimum bid price requirement, an important step that reflects our commitment to advancing PrimeC. With the positive momentum following our Phase 2b trial results, we are looking forward to initiating the Phase 3 trial in the US and continuing our discussions with potential partners."
About NeuroSense
NeuroSense Therapeutics, Ltd. is a clinical-stage biotechnology company focused on discovering and developing treatments for patients suffering from debilitating neurodegenerative diseases. NeuroSense believes that these diseases, which include amyotrophic lateral sclerosis (ALS), Alzheimer's disease and Parkinson's disease, among others, represent one of the most significant unmet medical needs of our time, with limited effective therapeutic options available for patients to date. Due to the complexity of neurodegenerative diseases and based on strong scientific research on a large panel of related biomarkers, NeuroSense's strategy is to develop combined therapies targeting multiple pathways associated with these diseases.
For additional information, we invite you to visit our website and follow us on LinkedIn, YouTube and X. Information that may be important to investors may be routinely posted on our website and these social media channels.
Forward-Looking Statements
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on NeuroSense Therapeutics' current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and include statements regarding initiating the Phase 3 trial for PrimeC in the US. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The future events and trends may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward looking statements. These risks include unexpected R&D costs or operating expenses, a delay in the reporting of additional results from PARADIGM clinical trial or a delay in initiating the Phase 3 trial for PrimeC in the US, the timing of expected regulatory and business milestones, risks associated with meeting with the FDA to determine the best path forward following the results from PARADIGM clinical trial, including a delay in any such meeting; the potential for PrimeC to safely and effectively target ALS; preclinical and clinical data for PrimeC; the uncertainty regarding outcomes and the timing of current and future clinical trials; timing for reporting data; the development and commercial potential of any product candidates of NeuroSense; and other risks and uncertainties set forth in NeuroSense's filings with the Securities and Exchange Commission (SEC). You should not rely on these statements as representing our views in the future. More information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 22, 2023. Forward-looking statements contained in this announcement are made as of this date, and NeuroSense undertakes no duty to update such information except as required under applicable law.
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SOURCE NeuroSense
FAQ
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