ENDRA Life Sciences Granted Extension to Regain Compliance with Nasdaq Continued Listing Requirements
August 28 2024 - 3:17PM
Business Wire
ENDRA Life Sciences Inc. (NASDAQ: NDRA), a pioneer of Thermo
Acoustic Enhanced UltraSound (TAEUS®), today announced that on
August 27, 2024, the Company was notified by The Nasdaq Stock
Market LLC (“Nasdaq”) that the Nasdaq Hearings Panel (the “Panel”)
has granted the Company’s request for an extension through November
20, 2024, to evidence compliance with the $1.00 bid price
requirement for continued listing on The Nasdaq Capital Market.
To regain compliance with the bid price requirement, the Company
must evidence a closing bid price of at least $1.00 per share for a
minimum of 10 consecutive trading sessions on or before November
20, 2024. The Company is considering all available options to
timely evidence compliance with the terms of the Panel’s
decision.
This notification from Nasdaq has no immediate effect on the
listing or trading of the Company's common stock, which will
continue to trade on the Nasdaq Capital Market under the symbol
“NDRA.”
The Company is also announcing that as of today, 91% of the
Series B Warrants that were issued in connection with the June 2024
public offering have been exercised, resulting in the issuance of
15,831,864 shares of common stock, bringing the Company’s total
number of outstanding common shares to 17,280,655.
About ENDRA Life Sciences Inc.
ENDRA Life Sciences is the pioneer of Thermo Acoustic Enhanced
UltraSound (TAEUS®), a ground-breaking technology that
characterizes tissue similar to an MRI, but at 1/40th the cost and
at the point of patient care. TAEUS® is initially focused on the
non-invasive assessment of fatty tissue in the liver. Steatotic
liver disease (SLD, formerly known as NAFLD-NASH) is a chronic
liver disease spectrum that affects over two billion people
globally, and for which there are no practical diagnostic tools.
Beyond the liver, ENDRA is exploring several other clinical
applications of TAEUS®, including non-invasive visualization of
tissue temperature during energy-based surgical procedures. For
more information, please visit www.endrainc.com.
Forward-Looking Statements
All statements in this press release that are not based on
historical fact are "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements, which
are based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of terms such as “approximate,” "anticipate," “attempt,” "believe,"
"could," "estimate," "expect," “forecast,” “future,” "goal,"
“hope,” "intend," "may," "plan," “possible,” “potential,”
“project,” "seek," "should," "will," “would,” or other comparable
terms (including the negative of any of the foregoing), although
some forward-looking statements are expressed differently. Examples
of forward-looking statements for ENDRA include, among others,
expectations with respect to FDA requirements regarding its
clinical trials and de novo submission for its TAEUS liver device;
estimates of the timing of future events and anticipated results of
its development efforts, including the timing of submission for and
receipt of required regulatory approvals and product launches and
sales; statements relating to future financial position and
projected costs and revenue; expectations concerning ENDRA's
business strategy; and statements regarding the Company’s ability
to regain compliance with the Nasdaq continued listing standards.
Forward-looking statements involve inherent risks and uncertainties
that could cause actual results to differ materially from those in
the forward-looking statements as a result of various factors
including, among others: the ability to raise additional capital in
order to continue as a going concern; the ability to obtain FDA and
other regulatory approvals necessary to sell ENDRA medical devices
in certain markets in a timely manner, or at all; the ability to
develop a commercially feasible technology and its dependence on
third parties to design and manufacture its products; ENDRA’s
ability to regain compliance with Nasdaq listing standards and
remain listed on a securities exchange; ENDRA’s dependence on its
senior management team; market acceptance of ENDRA’s technology and
the amount and nature of competition in its industry; ENDRA’s
ability to protect its intellectual property; and the other risks
and uncertainties described in the Risk Factors and Management’s
Discussion and Analysis of Financial Condition and Results of
Operations sections of the company’s most recent Annual Report on
Form 10-K and in subsequent Quarterly Reports on Form 10-Q filed
with the Securities and Exchange Commission. You should not rely
upon forward-looking statements as predictions of future events.
The forward-looking statements made in this press release speak
only as of the date of issuance, and ENDRA assumes no obligation to
update any such forward-looking statements to reflect actual
results or changes in expectations, except as otherwise required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240828196047/en/
Company: Richard Jacroux Chief Financial Officer
investors@endrainc.com www.endrainc.com
Investor Relations: Yvonne Briggs LHA Investor Relations
(310) 691-7100 ybriggs@lhai.com
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