ENDRA Life Sciences (NASDAQ: NDRA) Granted Extension by Nasdaq Hearings Panel to Meet Minimum Bid Price Requirement for Continued Listing - Latest Updates and Strategic Moves Revealed!
ENDRA Life Sciences Inc. has received an extension from the Nasdaq Hearings Panel to ensure compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The company now has until November 20, 2024, to maintain a closing bid price of at least $1.00 per share for a minimum of 10 consecutive trading sessions.
This development does not impact the trading of ENDRA's common stock, which will continue under the ticker NDRA. ENDRA is actively exploring various options to meet Nasdaq's terms within the specified timeframe.
In addition, ENDRA has announced that 91% of the Series B Warrants issued during a recent public offering have been exercised, resulting in the issuance of 15,831,864 new shares of common stock. This has increased the total number of outstanding shares to 17,280,655.
ENDRA Life Sciences is known for its innovative TAEUS® technology, which offers a cost-effective alternative to MRI for characterizing tissue, with a focus on the liver. This technology is crucial for assessing fatty liver disease, a widespread condition affecting over two billion individuals globally.
The company's press release also included forward-looking statements regarding regulatory approvals, product launches, and future financial performance. These statements are based on current expectations and projections, subject to risks and uncertainties related to ENDRA's compliance with Nasdaq listing standards.
In recent news, ENDRA Life Sciences reported its Q2 2024 results and strategic updates, including a reverse stock split to maintain its NASDAQ listing. The company has made key changes to enhance performance and is focused on pivotal clinical studies for the TAEUS liver device, aiming for completion by mid-2025.
Investors and stakeholders are closely monitoring ENDRA's financial metrics and market performance. While the stock has seen recent positive price movement, it has experienced a significant decline over the past year. Factors like a low Price / Book ratio and oversold territory based on the Relative Strength Index indicate potential opportunities and risks for investors.
For a comprehensive analysis of ENDRA's investment potential and real-time data, visit InvestingPro for more insights on this evolving situation.