Ensysce Biosciences Receives Notice from Nasdaq; The Company Is Not Eligible For A Second 180-Day Period Because It Does Not Comply With The Minimum Stockholders' Equity Requirement For Initial Listing On The Nasdaq Capital Market
Portfolio Pulse from Benzinga Newsdesk
Ensysce Biosciences, Inc. (NASDAQ:ENSC) has received a notice from Nasdaq indicating non-compliance with listing requirements due to its stock price remaining below $1.00 and not meeting the minimum stockholders' equity requirement. The company is not eligible for an additional 180-day compliance period, and its continued listing will be reviewed by the Nasdaq Hearings Panel.
September 27, 2024 | 8:35 pm
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Ensysce Biosciences is at risk of being delisted from Nasdaq due to its stock price being below $1.00 and not meeting the minimum stockholders' equity requirement. The company is not eligible for an additional compliance period, and a hearing will decide its listing fate.
The notice from Nasdaq indicates significant regulatory challenges for Ensysce Biosciences, as it fails to meet critical listing requirements. This situation typically leads to negative investor sentiment and potential stock price decline due to the risk of delisting.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100