Cognition Therapeutics, Inc. announced it received an additional 180-calendar day extension from Nasdaq to regain compliance with the minimum bid price requirement. The company's common stock had closed below $1.00 per share for 30 consecutive business days, initially notified on September 12, 2024.
The period to regain compliance closed on March 11, 2025, and the company's listing will be transferred to The Nasdaq Capital Market from The Nasdaq Global Market, effective March 14, 2025. The new compliance deadline is September 8, 2025.
Cognition intends to monitor its common stock's closing bid price and will consider available options to resolve the deficiency, including potentially seeking stockholder approval to implement a reverse stock split if necessary. Failure to regain compliance could result in delisting.
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