On October 21, 2024, Gain Therapeutics, Inc. announced that it has received a letter from the listing qualifications department staff of The Nasdaq Stock Market, indicating that the company has successfully met the minimum Market Value of Listed Securities (MVLS) requirement of $50 million for continued listing on The Nasdaq Global Market. This compliance with Nasdaq’s listing rule, 5450(b)(2)(A), confirms that Gain Therapeutics is now in adherence to all Nasdaq Global Market listing stipulations, effectively closing the matter.
An earlier Current Report on Form 8-K, dated July 12, 2024, detailed the initial notification from Nasdaq on July 11, 2024, stating that Gain Therapeutics did not meet the MVLS requirement as the market value of its listed securities had remained below $50.0 million for 30 consecutive business days. In response, the company was granted a timeline of 180 calendar days, until January 7, 2025, to rectify the MVLS deficiency.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Gain Therapeutics’s 8K filing here.
Gain Therapeutics Company Profile
Gain Therapeutics, Inc, a biotechnology company, develops novel small molecule therapeutics to treat diseases across various therapeutic areas. Its drug discovery platform Magellan discovers novel allosteric binding sites in a disease; identifies proprietary small molecules that bind these sites to modulate protein function; and treats the underlying cause of the disease.
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