Lipella Pharmaceuticals Inc. has been notified by Nasdaq Listing Qualifications staff that it is not meeting Nasdaq's minimum stockholders' equity requirement of $2.5 million, having reported equity of $1.7 million in their latest quarterly report. The company must submit a plan to regain compliance by October 7, 2024. If the plan is accepted, they may be granted up to 180 days to meet the requirement. While confident in regaining compliance in this period, there is no guarantee they will fulfill the requirement, continue meeting other listing criteria, or successfully appeal for continued listing if needed.
List of Proper Names: - Lipella Pharmaceuticals Inc. - The Nasdaq Stock Market LLC - Jonathan Kaufman