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NEW YORK - Klotho Neurosciences, Inc. (NASDAQ:KLTO), a gene and cell therapy company with a market capitalization of $71.15 million, has regained compliance with NASDAQ’s continued listing requirements, the company announced Wednesday. According to InvestingPro data, the stock has shown remarkable momentum with a 219.91% return over the past six months, despite its historically volatile trading pattern.
The biogenetics firm, which focuses on neurodegenerative and aging-related diseases, received notification from The NASDAQ Stock Market LLC confirming it now meets both the minimum $1.00 bid price requirement under NASDAQ Listing Rule 5550(a)(2) and the minimum stockholders’ equity threshold of $2.5 million under Listing Rule 5550(b)(1). InvestingPro analysis reveals the company’s current stock price at $1.35, though it faces challenges with a concerning current ratio of 0.29, indicating potential liquidity constraints.
With these requirements satisfied, Klotho will maintain its listing and continue trading on the NASDAQ Stock Market. However, NASDAQ will monitor the company’s compliance with the stockholders’ equity requirement for one year.
Should Klotho fall below the minimum equity threshold during this period, it would face potential delisting without a cure period, though it would have the opportunity to request a new hearing.
Klotho Neurosciences develops cell and gene therapies using a protein derived from a patented form of the human Klotho gene. The company’s portfolio includes proprietary cell and gene therapy programs using DNA and RNA as therapeutics and genomics-based diagnostic assays. With a beta of 2.57, the stock exhibits significantly higher volatility than the broader market. For deeper insights into KLTO’s financial health and growth prospects, InvestingPro subscribers have access to over 10 additional key metrics and analysis tools.
The company is targeting conditions including ALS, Alzheimer’s, and Parkinson’s disease, according to the press release statement.
In other recent news, Klotho Neurosciences, Inc. announced that the FDA has granted Orphan Drug Designation to its KLTO-202 therapy for treating Amyotrophic Lateral Sclerosis (ALS). This designation provides benefits such as tax credits, waiver of FDA fees, and seven years of market exclusivity upon approval. In a strategic move, Klotho terminated its Share Exchange Agreement with SkyBell Technologies, preventing significant dilution of its existing shareholders and allowing the company to focus on its core R&D programs. Additionally, Klotho raised over $11 million through warrant exercises, enabling the company to eliminate all outstanding debt and meet NASDAQ listing requirements. The company also adjusted the exercise price of its Public Warrants temporarily to incentivize their exercise, as detailed in a recent SEC filing.
However, Klotho faces the risk of delisting from the Nasdaq Stock Market due to non-compliance with the minimum bid price requirement. The company received an extension until August 13, 2025, to meet this requirement, conditional on achieving certain milestones. Klotho’s CEO, Joseph Sinkule, reaffirmed the company’s commitment to regaining compliance with Nasdaq’s rules. These developments indicate a period of significant activity and strategic decision-making for Klotho Neurosciences.
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