Imunon Inc. has announced its receipt of a delisting notice from Nasdaq due to non-compliance with the Minimum Bid Price Requirement, which mandates a minimum bid price of $1.00 per share. This notice follows the company's failure to meet the requirement over a 30 consecutive business day period. Despite requesting a hearing before a Nasdaq Hearing Panel to appeal the delisting determination, Imunon was granted an exception to regain compliance with both the Minimum Bid Price Requirement and the Minimum Stockholders' Equity Requirement. The company faces challenges in regaining compliance and potential complications if its securities are delisted from Nasdaq. Imunon must promptly notify the Panel of any significant developments that could impact its compliance status.
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