InMed Pharmaceuticals Receives Nasdaq Notice Over Shareholders' Equity Requirement
InMed Pharmaceuticals (INM) has received a notice from Nasdaq indicating that its shareholders’ equity of $1.08 million falls below the minimum requirement of $2.5 million for continued listing on the exchange. The company now has 45 days to submit a plan demonstrating how it will regain compliance with the listing rules. InMed is optimistic about addressing this issue through an upcoming merger with Mentari Therapeutics and related financing, which it believes will restore its financial standing in line with Nasdaq requirements.
Tickers: $INM
Topics: merger announcement Nasdaq compliance stock delisting risk