Aspire Biopharma faces potential Nasdaq delisting after compliance shortfall

Published 17/10/2025, 22:32
Aspire Biopharma faces potential Nasdaq delisting after compliance shortfall

Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) reported that it has received a notice from the Nasdaq Stock Market LLC regarding the potential delisting of its securities. The company, currently trading at $0.34 with a market capitalization of just $15.82 million, disclosed this development in a statement based on a recent SEC filing.

According to the filing, Aspire Biopharma did not regain compliance with two Nasdaq listing standards within the required timeframes. The first deficiency relates to Nasdaq Listing Rule 5450(b)(2)(A), which mandates a minimum Market Value of Listed Securities (MVLS) of $50 million. The company’s MVLS remained below this threshold for 30 consecutive trading days, triggering a 180-day compliance period that expired without rectification.

The second deficiency concerns Nasdaq Listing Rule 5450(a)(1), which requires a minimum bid price of $1.00 per share. Aspire Biopharma’s stock price stayed below this level for 30 consecutive trading days, also resulting in a 180-day compliance period that ended on October 13, 2025.

On Wednesday, Nasdaq staff notified the company that its securities are subject to delisting unless it appeals the determination and requests a hearing before the Nasdaq Hearings Panel. Aspire Biopharma has requested such a hearing and paid the associated $20,000 fee, which temporarily stays the suspension of its common stock and public warrants pending the panel’s decision.

At the hearing, Aspire Biopharma plans to present its strategy to regain compliance with both the MVLS and bid price rules and to request an extension of up to 180 days. The panel has the authority to grant such an extension but is not required to do so. The company stated it is evaluating all available options to address the deficiencies.

Aspire Biopharma’s common stock (NASDAQ:ASBP) and warrants (NASDAQ:ASBPW) remain listed on the Nasdaq Stock Market LLC during this process. The information is based on a statement released by the company in a recent SEC filing.

In other recent news, Aspire Biopharma Holdings, Inc. announced it has completed a $1 million funding tranche, part of a Securities Purchase Agreement, bringing the total funding received to $5,709,677 out of a total subscription price of $7,750,000. The company also disclosed a change in its independent registered public accounting firm. Aspire Biopharma has filed an omnibus patent application for its sublingual drug delivery technology, aiming to enhance the pharmacokinetic performance of active pharmaceutical ingredients. The company outlined key milestones for its sublingual drug delivery pipeline, with a New Drug Application for its sublingual high-dose aspirin formulation expected in the second half of 2025. Clinical trials have shown that this formulation significantly inhibited serum thromboxane B2 within two minutes, acting approximately twice as fast as chewed aspirin tablets. This rapid action could be crucial during heart attacks, where quick blood clot inhibition is vital. Additionally, Aspire Biopharma entered into a $9.7 million note purchase agreement with investors, with notes convertible into common stock at a set conversion price. These developments highlight Aspire Biopharma’s ongoing efforts to advance its drug delivery technologies and secure financial backing.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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