Revelation Biosciences, Inc., a pharmaceutical firm, is at present dealing with delisting from The Nasdaq Capital Market resulting from non-compliance with the Nasdaq Itemizing Rule 5550(b)(1).
The rule necessitates a minimal stockholders’ fairness of $2.5 million, which the corporate has failed to take care of. As reported in its newest quarterly submitting, the corporate’s stockholders’ fairness stood at $1,140,421 as of June 30, 2024.
The notification of non-compliance was obtained by the corporate on Monday, August 14, 2024, following the submission of their quarterly financials. Revelation Biosciences has been given a 45-day interval to current a plan to Nasdaq for regaining compliance. If the plan is accepted, the corporate may very well be granted as much as a further 180 days to satisfy the itemizing requirements.
Within the occasion that Nasdaq rejects the corporate’s compliance plan, or if the corporate fails to regain compliance throughout the granted extension interval, Revelation Biosciences has the best to request a listening to earlier than an unbiased panel.
This request would postpone any delisting motion till the listening to course of is concluded and any additional extension interval granted by the panel has expired.
The corporate has expressed its intention to undertake all cheap measures to regain compliance and retain its itemizing on Nasdaq. Nonetheless, it’s unsure whether or not Nasdaq will grant the extension request or whether or not Revelation Biosciences will be capable of fulfill the continued itemizing necessities sooner or later.
The present state of affairs doesn’t instantly have an effect on the buying and selling of Revelation Biosciences’ frequent inventory or warrants, that are nonetheless being traded on The Nasdaq Capital Market below the tickers “REVB” and “REVBW”, respectively. The knowledge offered on this article is predicated on the corporate’s latest SEC submitting.
In different latest information, Revelation Biosciences Inc. has been ordered to pay a courtroom judgment of roughly $7.3 million to LifeSci Capital LLC, following a authorized dispute over unpaid banking and advisory charges. Regardless of this vital monetary obligation, Revelation Biosciences confirmed it has adequate money reserves to satisfy the judgment with out affecting its ongoing improvement and medical trial applications.
Concurrently, Revelation Biosciences has made an adjustment to the train worth of its Class C and Class D Widespread Inventory Buy Warrants, as disclosed in a latest 8-Okay submitting with the Securities and Change Fee.
Revere Financial institution, however, continues to obtain optimistic consideration from Roth/MKM analysts, who’ve maintained their Purchase ranking following the announcement of promising Section 1 trial outcomes for the financial institution’s drug, Gemini. The trial discovered Gemini to be secure and tolerable throughout completely different doses.
Moreover, Revelation Biosciences introduced optimistic outcomes from a Section 1 medical trial for Gemini, its proprietary immune preconditioning remedy. The trial confirmed the protection and tolerability of escalating doses of Gemini, with vital, dose-dependent biomarker modifications indicative of the drug’s immunostimulatory impact.
InvestingPro Insights
As Revelation Biosciences grapples with compliance points, real-time knowledge from InvestingPro paints an in depth monetary image of the corporate. With a market capitalization of simply $1.41 million, the corporate’s monetary well being is below scrutiny. The inventory is at present buying and selling close to its 52-week low, at solely 3.08% of its excessive, reflecting a big downtrend in investor confidence. Over the past 12 months, the value complete return has plummeted by an alarming 95.96%, indicating a extreme bearish development.
InvestingPro Suggestions counsel that Revelation Biosciences holds more money than debt, which may provide some monetary flexibility. Nonetheless, the RSI (Relative Power Index) signifies that the inventory is in oversold territory, which may sign a possible rebound or additional declines relying on market sentiment and firm efficiency. Moreover, the corporate is rapidly burning by means of money and suffers from weak gross revenue margins, that are important elements that traders should contemplate. It is usually vital to notice that analysts don’t anticipate the corporate will probably be worthwhile this 12 months, and internet earnings is anticipated to drop, elements that would affect the corporate’s potential to regain compliance with Nasdaq’s itemizing necessities.
For traders searching for a extra complete evaluation, InvestingPro provides extra suggestions that additional delve into Revelation Biosciences’ monetary state and market efficiency. These insights are essential for making knowledgeable choices, particularly in gentle of the corporate’s present challenges. For a deeper dive into the well being of Revelation Biosciences, go to https://www.investing.com/professional/REVB to find the total vary of InvestingPro Suggestions obtainable.
This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.
