Painreform Ltd PRFX.NASDAQ Chart and Quote

PainReform Ltd Faces Continued Nasdaq Compliance Struggles Amid Ongoing Financial Challenges

An Ongoing Battle for Compliance: PainReform Ltd?s Struggles on the Nasdaq ExchangeAs of November 7, 2024, PainReform Ltd. (NASDAQ: PRFX), a clinical-stage specialty pharmaceutical company based in Tel Aviv, has encountered critical hurdles in maintaining its listing on the Nasdaq Stock Market. The company received a notification from the Nasdaq Listing Qualifications Department indicating that it has failed to meet the minimum stockholders equity requirement of $2.5 million, as stipulated in Nasdaq Listing Rule 5550(b)(1). This notification adds to the company s recent woes which began earlier this year when it was notified about not meeting the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).This latest development can lead to serious implications for shareholders, notably a further erosion of investor confidence. With the company s shares currently priced at $0.582 and a total of 0 million shares outstanding, this presents a challenging environment for PainReform. The failure to meet the Minimum Equity Rule as well as the alternative requirements of maintaining a market value of at least $35 million or generating net income of $500,000 demonstrates the difficulties PainReform is facing in its operational and financial health.