ReShape Lifesciences Inc. has announced that it received a written notice from the Nasdaq Stock Market's Listing Qualifications Department, indicating the company's securities are set for delisting. This follows an earlier notification from Nasdaq in November 2024, stating that ReShape Lifesciences did not meet the minimum $2,500,000 stockholders' equity requirement for continued listing under Nasdaq Listing Rule 5550(b). While the company was granted an extension until May 27, 2025, to comply, it failed to meet the necessary terms. Unless ReShape Lifesciences appeals this decision by June 4, 2025, trading of its common stock will be suspended on June 6, 2025, and a Form 25-NSE will be filed to remove its securities from listing and registration on Nasdaq. The company plans to appeal the decision, but there is no assurance that the appeal will be successful or that it will maintain compliance with other Nasdaq Listing Rules.
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