Aptorum Group Limited (Nasdaq: APM, Euronext Paris: APM), a clinical stage biopharmaceutical company focused on addressing unmet medical needs in oncology, autoimmune diseases, and infectious diseases, has received a letter from Nasdaq Stock Market LLC notifying the Company that it is not compliant with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Global Market.
As of December 31, 2022, the Company’s stockholders’ equity was $7,833,305, which is below the required level of $10,000,000. The Company has 45 calendar days, or until June 20, 2023, to submit a plan to regain compliance.
If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the letter, or until October 31, 2023. The current listing of the Company’s Class A Ordinary Shares will remain unaffected and will continue to trade on The Nasdaq Global Market under the symbol “APM”.
About Aptorum Group
Aptorum Group Limited (Nasdaq: APM, Euronext Paris: APM) is revolutionizing the pharmaceutical industry with its innovative clinical stage biopharmaceuticals, which are designed to tackle diseases with unmet medical needs – particularly in oncology, autoimmune and infectious diseases.
From two successful Phase I clinical trials for its ALS-4 (MRSA) and orphan drug designated SACT-1 (Neuroblastoma) small molecule drugs, to the commercialization of its NLS-2 NativusWell® nutraceutical (menopause), Aptorum is making strides in the field.
To further their mission, Aptorum is developing drug discovery platforms, as well as a microbiome-based research platform for treatments of metabolic diseases. Additionally, they are partnering with Singapore’s Agency for Science, Technology and Research to co-develop and clinically validate their novel molecular-based rapid pathogen identification and detection diagnostics technology.