NanoVibronix Faces Potential Delisting from Nasdaq Due to Non-Compliance

NanoVibronix, Inc. (NASDAQ: NAOV) received a notice on November 19, 2024, indicating that the company no longer met the $2.5 million stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. This latest deficiency notice, from the Listing Qualifications department of The Nasdaq Stock Market LLC, cited the company’s reported stockholders’ equity of $1,872,000 as of September 30, 2024.

The previous non-compliance issue that NanoVibronix faced was failing to meet the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. This triggered a potential delisting of the company’s securities unless a hearing was requested.

In response to these challenges, NanoVibronix is preparing to present a plan to demonstrate compliance with all relevant criteria for continued listing on The Nasdaq Capital Market. The company intends to request an extension of time to achieve compliance during the hearing before the Nasdaq Hearings Panel.

While NanoVibronix is exploring all available avenues to regain compliance with the Nasdaq Listing Rules, the company cautions that there is no guarantee that the Panel will grant the requested extension for continued listing. Additionally, the company recognizes the uncertainty around its ability to evidence compliance within any granted extension period.

NanoVibronix has taken steps to address the deficiencies and will continue to work towards meeting Nasdaq’s listing requirements to maintain its position on The Nasdaq Capital Market. More updates are expected following the upcoming hearing before the Panel.

This report was signed on behalf of NanoVibronix, Inc. by Stephen Brown, the Chief Financial Officer, on November 22, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NanoVibronix’s 8K filing here.

About NanoVibronix

NanoVibronix, Inc, through its subsidiary, NanoVibronix Ltd., focuses on the manufacture and sale of noninvasive biological response-activating devices that target biofilm prevention, wound healing, and pain therapy. Its product portfolio includes UroShield, an ultrasound-based product to prevent bacterial colonization and biofilm in urinary catheters, enhance antibiotic efficacy, and decrease pain and discomfort associated with urinary catheter use.