Nasdaq warned Ensysce it faces delisting if its next SEC periodic report fails to show compliance with the $2.5 million stockholders’ equity rule.
Nasdaq granted an extension to regain the $1 minimum bid-price requirement, setting a new deadline of Feb. 22, 2027.
Nasdaq classified the Cy Biopharma acquisition as a change of control, triggering an initial listing review before shareholder approval of preferred conversion.
Failure to meet initial listing standards could lead to a trading suspension, with an initial listing application planned.
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