Hepion Pharmaceuticals Fails Nasdaq Listing Standards

TL;DR

Nasdaq is kicking Hepion Pharmaceuticals off the exchange for not meeting listing rules.

AI Summary

Hepion Pharmaceuticals, Inc. received a notice on November 20, 2024, indicating it failed to meet the continued listing standards of The Nasdaq Stock Market LLC. The company was previously known as ContraVir Pharmaceuticals, Inc. and is incorporated in Delaware.

Why It Matters

Failure to meet listing standards can lead to delisting from a major stock exchange, significantly impacting a company's liquidity and investor confidence.

Risk Assessment

Risk Level: high — Failure to meet continued listing standards on a major exchange like Nasdaq poses a significant risk to the company's stock viability and investor confidence.

Key Players & Entities

• Hepion Pharmaceuticals, Inc. (company) — Registrant
• Nasdaq Stock Market LLC (company) — Listing Exchange
• ContraVir Pharmaceuticals, Inc. (company) — Former Company Name
• November 20, 2024 (date) — Date of Notice

FAQ

Key Financial Figures

• $0.0001 — h registered: Common Stock, par value $0.0001 per share HEPA The Nasdaq Stock Mar
• $406,685 — 24 reported a stockholders' deficit of ($406,685) and the Company does not meet the alte
• $35 million — not meet the alternatives of minimum of $35 million market value of listed securities or ne
• $500,000 — et income from continuing operations of $500,000 in the most recently completed fiscal y

Filing Documents

• form8-k.htm (8-K) — 35KB
• 0001493152-24-047182.txt ( ) — 210KB
• hepa-20241120.xsd (EX-101.SCH) — 3KB
• hepa-20241120_lab.xml (EX-101.LAB) — 34KB
• hepa-20241120_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On November 20, 2024, Hepion Pharmaceuticals, Inc., a Delaware corporation (the " Company "), received written notice (the " Notice ") from the Nasdaq Stock Market, LLC (" Nasdaq ") indicating that since the Company's Form 10-Q for the period ended September 30, 2024 reported a stockholders' deficit of ($406,685) and the Company does not meet the alternatives of minimum of $35 million market value of listed securities or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years (the "Listing Rule"), the Company no longer complies with the Listing Rule. The Notice has no effect at this time on the Common Stock, which continues to trade on the Nasdaq Capital Market under the symbol "HEPA." Under the Listing Rule, the Company has 45 days to submit a plan to regain compliance. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from the date of the Notice to evidence compliance. In the event Nasdaq does not accept the Company's plan, the Company will have the opportunity to appeal to a hearings panel. There can be no assurance that the Company will be successful in maintaining its listing of its common stock on the Nasdaq Capital Market. -2-

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 21, 2024 Hepion Pharmaceuticals, Inc. By: /s/ John Brancaccio John Brancaccio Interim Chief Executive Officer and Interim Chief Financial Officer -3-

View Full Filing

View this 8-K filing on SEC EDGAR