ANN ARBOR—The medical device startup ENDRA Life Sciences Inc. (NASDAQ: NDRA) announced that on Aug. 27, the company received word from Nasdaq Stock Market LLC that the Nasdaq Hearings Panel has granted the company’s request for an extension through Nov. 20 to attain compliance with the $1 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 per share for a minimum of 10 consecutive trading sessions on or before Nov. 20. 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.”
Endra officials also announced that 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.
Endra is developing a technology called Thermo Acoustic Enhanced UltraSound (TAEUS) that characterizes tissue similar to an MRI, but at 1.40th the cost, and at the point of patient care through existing ultrasound machines widely used in medical clinics. 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, visit www.endrainc.com.