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MINNEAPOLIS - Nuwellis, Inc. (NASDAQ:NUWE), a medical technology company specializing in fluid management solutions, announced Wednesday it has regained compliance with Nasdaq’s minimum bid price requirement. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt and a current ratio of 2.23x, indicating strong short-term liquidity.
The company received formal notice from Nasdaq on July 22 confirming resolution of its previously disclosed bid price deficiency under Listing Rule 5550(a)(2). As a result, Nuwellis will continue trading on the Nasdaq Capital Market under the ticker NUWE, and a hearing with the Nasdaq Hearings Panel scheduled for August 12 has been cancelled. The stock has shown a strong return over the last month, though InvestingPro analysis indicates the company currently appears undervalued based on its Fair Value assessment.
Nuwellis focuses on commercializing the Aquadex SmartFlow system, which provides ultrafiltration therapy for patients suffering from fluid overload. The system is designed for both temporary and extended use in adult and pediatric patients weighing 20 kg or more whose fluid overload does not respond to medical management, including diuretics.
The company is headquartered in Minneapolis with a wholly owned subsidiary in Ireland.
The announcement comes as a significant development for Nuwellis, allowing it to maintain its Nasdaq listing without further regulatory intervention. According to the company’s press release statement, the compliance issue has been fully resolved, securing its continued presence on the exchange.
In other recent news, Nuwellis Inc. has made several significant announcements. The company terminated its REVERSE-HF clinical trial, which was evaluating ultrafiltration versus IV loop diuretic therapy for managing fluid in hospitalized heart failure patients. This decision aligns with Nuwellis’s strategic focus on areas with greater potential for patient impact and business growth, such as outpatient heart failure, pediatric, and critical care settings. Additionally, Nuwellis secured a new U.S. patent for its fluid management technology, enhancing the accuracy of fluid balance calculations in continuous renal replacement therapy systems. This development is expected to improve clinical outcomes by addressing errors in fluid balance measurements. Furthermore, Nuwellis appointed John L. Erb as Chief Executive Officer and President. Mr. Erb, who has been with the company since 2012, will also continue as chairman of the board. His employment agreement includes an option to purchase shares of common stock, indicating confidence in the company’s future.
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