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Klotho Neurosciences, Inc. (KLTO), a biotechnology company with a market capitalization of $4.8 million and current share price of $0.16, has been granted an extension by The Nasdaq Stock Market LLC to meet the exchange’s listing requirements. According to InvestingPro data, the stock has declined 98% over the past year. The Nasdaq Hearing Panel provided the extension until August 13, 2025, subject to the company achieving certain milestones. Klotho Neurosciences, which trades under the ticker KLTO on The Nasdaq Stock Market, had previously been notified of non-compliance with the exchange’s minimum Market Value of Publicly Held Shares and Market Value of Listed Securities rules. InvestingPro analysis indicates the company’s weak financial health, with a concerning current ratio of 0.13.
The company was initially given until February 12, 2025, to regain compliance after receiving delinquency notices on August 16, 2024. However, by February 14, 2025, Klotho Neurosciences had not met the requirements, prompting a delisting notice from Nasdaq. The company appealed this determination and, following a hearing on March 28, 2025, was granted the extension.
The extension is contingent upon Klotho Neurosciences meeting specific milestones and reporting these achievements to Nasdaq. Failure to meet these conditions could lead to the revocation of the extension and potential delisting from the exchange. The company’s Chief Executive Officer, Joseph Sinkule, signed off on the report filed on April 4, 2025. The information is based on a press release statement from Klotho Neurosciences.
In other recent news, Klotho Neurosciences, Inc. has announced a definitive agreement to acquire SB Security Holdings, LLC, a subsidiary of SkyBell Technologies, Inc. This acquisition will result in Klotho issuing new shares representing 90% of its post-deal common stock to SkyBell. The deal is subject to several conditions, including shareholder approval and Nasdaq clearance, with the aim to conclude by August 13, 2025. Additionally, Klotho Neurosciences is facing potential delisting from The Nasdaq Global Markets after failing to meet the minimum market value requirements. The company has requested a hearing to appeal the delisting, which temporarily stays the suspension of its securities. In another development, Klotho Neurosciences secured $2 million through convertible promissory notes and warrants, involving the issuance of notes and warrants to purchase up to 4 million shares. The company is committed to seeking shareholder approval for share issuances beyond the 19.99% threshold of currently outstanding shares. These recent developments highlight Klotho’s strategic moves and financial maneuvers amid its evolving business landscape.
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