Hepion announces receipt of delisting notification from Nasdaq

Hepion Pharmaceuticals (HEPA) announced that on May 9, the company received written notice from the Office of General Counsel of The Nasdaq Stock Market indicating that the Nasdaq Hearings Panel has determined to delist the company’s shares from Nasdaq due to the company’s failure to meet Nasdaq’s continued listing standards. As previously disclosed, the company has not been compliant with the requirements under Nasdaq Listing Rule 5550(a)(2) to maintain a minimum bid price of $1.00 per share and Nasdaq Listing Rule 5101 indicating that Nasdaq believes the company is a public shell. The Notice indicated that trading in the company’s shares of common stock on Nasdaq will be suspended effective at the open of trading on Tuesday, May 13. Upon suspension of the trading of its common stock on Nasdaq, the company expects that its common stock will be quoted under its existing symbol “HEPA” on the OTC Markets Group.