RenovoRx (RNXT) has released an update.
RenovoRx, Inc. is on the brink of being delisted from The Nasdaq Capital Market for failing to meet the minimum stockholders’ equity requirement. Despite receiving an extension until February 19, 2024, to resolve the issue, the company was still non-compliant as of the notice date. RenovoRx intends to request a hearing to postpone delisting and will present plans to regain compliance, buoyed by a recent private placement that raised $6.1 million. While the company is optimistic about meeting the requirements, there is no certainty that it will achieve compliance in time to avoid delisting.
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