S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
PLEASANTON, CALIFORNIA - Healthcare Triangle, Inc. (Nasdaq:HCTI), a digital transformation solutions provider for healthcare and life sciences industries, has secured continued listing on the Nasdaq Stock Market following a review by the Nasdaq Hearings Panel. The company, currently trading at $0.02 per share with a market capitalization of $10.5 million, has seen its stock decline nearly 98% over the past six months according to InvestingPro data.
The Panel determined that Healthcare Triangle is in compliance with Nasdaq’s shareholders’ equity rule and granted a continued listing exception to resolve previously noted deficiencies. The decision comes with conditions: the company must complete a reverse stock split by August 8, 2025, at a ratio sufficient to maintain long-term compliance with the Bid Price Rule, and by September 5, 2025, must demonstrate compliance by maintaining a $1 closing bid price for at least twenty consecutive trading days.
A Discretionary Panel Monitor will be imposed for a one-year period following any compliance determination.
"We are elated and grateful to Nasdaq’s Panel for reaching its determination, allowing us to continue with our listing intact," said Dave Rosa, Chairman of the Board of Directors at HCTI.
Healthcare Triangle, based in Pleasanton, California, provides technology solutions for hospitals, health systems, payers, and pharmaceutical companies. The company has achieved HITRUST Certification for its Cloud and Data Platform.
The announcement was made in a press release issued Monday by Healthcare Triangle.
In other recent news, Healthcare Triangle, Inc. has initiated a cost optimization plan aimed at reducing annual expenses by up to $1.8 million. This initiative seeks to improve financial performance by aligning expenditures with post-acquisition priorities and eliminating operational redundancies. The company has also launched a new subsidiary, QuantumNexis, focused on AI-powered healthcare solutions, expected to create additional revenue streams. Additionally, Healthcare Triangle completed the acquisition of Niyama Healthcare and Ezovion Solutions, a $5.7 million transaction to expand its product offerings and enhance AI capabilities. Meanwhile, the company faces potential delisting from the Nasdaq Stock Market due to low stock prices and public interest concerns related to shareholder dilution. In a separate development, Healthcare Triangle has switched its independent registered public accounting firm to SRCO Professional Corporation. This change is part of the company’s corporate governance and oversight measures, with no disagreements reported with the previous firm.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.