Nexalin Regains Nasdaq Bid Price Compliance; Equity Deadline Set for January 4
NXL is trading near its 52-week low of $4 (11% above the low) on light trading volume (0.1× avg).
Summary
Nexalin Technology has regained compliance with Nasdaq's minimum bid price rule after its stock closed above $1.00 for 21 consecutive trading days following the August 31 reverse split. The confirmation, dated September 30, satisfies the bid price condition of the Hearings Panel's September 25 continued listing decision. The company still must demonstrate compliance with the $2.5 million minimum stockholders' equity requirement by January 4, 2027, or face delisting. With a market cap around $3.6 million and a going concern warning from the August 10-Q, meeting that equity threshold will likely require additional financing or a significant equity infusion. The stock trades at $4.44, well above the $1.00 minimum, but the equity requirement remains the key risk to continued listing.
At the time of this announcement, NXL was trading at $4.44 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.6M. The 52-week trading range was $4.00 to $60.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.