NEW
YORK, April 24, 2024 /PRNewswire/ --
Synaptogenix, Inc. (Nasdaq: SNPX) ("Synaptogenix" or the
"Company"), an emerging biopharmaceutical company developing
therapeutics for neurodegenerative disorders, today announced that
it received notice from The Nasdaq Stock Market
LLC ("Nasdaq") on April 22, 2024, informing the
Company that it has regained compliance with the minimum bid price
requirement under Nasdaq Listing Rule 5550(a)(2) ("Listing Rule")
for continued listing on The Nasdaq Capital Market.
On April 24, 2023,
Synaptogenix received notice from the Listing Qualifications
Department of Nasdaq indicating that the Company was not in
compliance with the Listing Rule, as its common stock had failed to
meet a closing bid price of $1.00 or more for 30
consecutive business days. In order to regain compliance with the
Listing Rule, the Company's common stock was required to maintain a
minimum closing bid price of $1.00 or more for at least
10 consecutive business days. The Company conducted a 1-for-25
reverse split of its common stock on April 4, 2024, with the
goal of increasing the trading price of the common stock. The
common stock began trading on a split-adjusted basis on
April 5, 2024, under the new CUSIP
number 87167T 300.
About Synaptogenix
Synaptogenix is a clinical-stage biopharmaceutical company that
has historically worked to develop novel therapies
for neurodegenerative diseases. Synaptogenix has conducted
clinical and preclinical studies of its lead therapeutic candidate,
Bryostatin-1, in Alzheimer's disease. Preclinical studies have also
demonstrated bryostatin's regenerative mechanisms of action for the
rare disease Fragile X syndrome, and for other neurodegenerative
disorders such as multiple sclerosis, stroke, and traumatic brain
injury. The U.S. Food and Drug Administration has granted Orphan
Drug Designation to Synaptogenix for Bryostatin-1 as a treatment
for Fragile X syndrome. Bryostatin-1 has already undergone testing
in more than 1,500 people in cancer studies, thus creating a large
safety data base that will further inform clinical trial designs.
Additional information about Synaptogenix, Inc. may be found on its
website: www.synaptogen.com
Contact
800-811-5591
ir@synaptogen.com
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SOURCE Synaptogenix, Inc.
