Announcement • May 15
NeuBase Therapeutics, Inc.(NasdaqCM:NBSE) dropped from S&P TMI Index NeuBase Therapeutics, Inc.(NasdaqCM:NBSE) dropped from S&P TMI Index New Risk • May 12
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended March 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported March 2023 fiscal period end). Share price has been highly volatile over the past 3 months (23% average weekly change). Shareholders have been substantially diluted in the past year (122% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (€1.32m market cap, or US$1.42m). Announcement • May 05
The Nasdaq Stock Market LLC Notifies NeuBase Therapeutics Regarding Non-Compliance with the Minimum Bid Price Requirement and Ineligible for a Second 180 Calendar Day Period to Regain Compliance As previously disclosed, on November 3, 2023, NeuBase Therapeutics, Inc. (the ‘Company’) received a letter from the Listing Qualifications Department (the ‘Staff’) of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that, because the closing bid price for its common stock had been below $1.00 per share for 30 consecutive business days, it no longer complied with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share (the ‘Minimum Bid Price Requirement’), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. The Company was provided an initial period of 180 calendar days, or until May 1, 2024, to regain compliance with the Minimum Bid Price Requirement. On May 2, 2024, the Staff notified the Company that it has not regained compliance with the Minimum Bid Price Requirement (the ‘Delisting Determination’) and that it is ineligible for a second 180 calendar day period to regain compliance as it did not provide information regarding its intent to cure the bid price deficiency. The Staff informed the Company that unless it requests an appeal of the Delisting Determination to a Hearings Panel by May 9, 2024, the Company’s common stock will be scheduled for delisting from the Nasdaq Capital Market and will be suspended at the opening of business on May 13, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission (‘SEC’), which will remove the Company’s common stock from listing and registration on Nasdaq. Also, as previously disclosed, on February 22, 2024, the board of directors of the Company (the ‘Board’) approved the liquidation and dissolution of the Company (the ‘Dissolution’) and on March 5, 2024, the Board unanimously approved a plan of dissolution (the ‘Plan of Dissolution’) in respect of the Dissolution, subject to the approval of the Company’s stockholders. The Company is seeking stockholder approval of the Dissolution pursuant to the Plan of Dissolution at a Special Meeting of the Company’s stockholders scheduled to be held on May 13, 2024. In light of the Company’s planned Dissolution, which remains subject to approval by the Company’s stockholders, the Company does not intend to request an appeal of the Delisting Determination. Accordingly, the Company expects that trading in the Company's common stock will be suspended upon the opening of business on May 13, 2024. Thereafter, Nasdaq will file a Form 25-NSE with the SEC, which will remove the Company’s common stock from listing and registration on Nasdaq. Nasdaq has not specified the exact date on which the Form 25-NSE will be filed. 
