China SXT Pharmaceuticals, Inc. Regained Compliance with Nasdaq’s Minimum Bid Price Rule

Rhea-AI Summary

China SXT Pharmaceuticals, Inc. has regained compliance with NASDAQ listing rules after its closing bid price remained at $1.00 per share or greater for 10 consecutive business days.

Positive

• China SXT Pharmaceuticals, Inc. has regained compliance with NASDAQ listing rules, which could positively affect the stock price.

Negative

• None.

TAIZHOU, China, Oct. 26, 2023 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. ("SXTC" or the "Company"), (NASDAQ: SXTC), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces ("TCMPs"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements ("TCMHS"), today announced that on October 19, 2023, NASDAQ notified us that it has determined that for the 10 consecutive business days, from October 5, 2023 to October 13, 2023, the closing bid price of the Company’s ordinary shares has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and NASDAQ has closed this matter.

About China SXT Pharmaceuticals, Inc.

Founded in 2005 and headquartered in Taizhou City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is an innovative pharmaceutical company focusing on the research, development, manufacture, marketing and sales of traditional Chinese medicine pieces, which is a type of Traditional Chinese Medicine that has been processed to be ready for use. For more information, please visit www.sxtchina.com.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding the closing of the proposed private placement are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; the growth of the pharmaceutical market, particularly the Traditional Chinese Medicine Pieces ("TCMPs") market, in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward – looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Feng Zhou, Chief Executive Officer
Email:  fzhou@sxtchina.com

FAQ

What is the news about China SXT Pharmaceuticals, Inc.?

The news is about China SXT Pharmaceuticals, Inc. regaining compliance with NASDAQ listing rules.

What is the significance of regaining compliance with NASDAQ listing rules?

Regaining compliance with NASDAQ listing rules is important for a company as it allows them to maintain their stock listing on the exchange.

How long did the closing bid price remain at $1.00 per share or greater?

The closing bid price remained at $1.00 per share or greater for 10 consecutive business days.

What is the stock symbol of China SXT Pharmaceuticals, Inc.?

The stock symbol of China SXT Pharmaceuticals, Inc. is SXTC.

What is the business focus of China SXT Pharmaceuticals, Inc.?

China SXT Pharmaceuticals, Inc. is a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces (TCMPs).