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P3 Health Partners Inc. (NASDAQ:PIII) announced it received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC on Thursday, stating the company is not in compliance with Nasdaq Listing Rule 5550(b)(1). This rule requires listed companies to maintain a minimum of $2.5 million in stockholders’ equity. According to the company’s statement, P3 Health Partners also does not meet the alternative standards of market value of listed securities or net income from continuing operations as set forth in the rule.
The company’s common stock and warrants will continue to be listed and traded on Nasdaq for now. P3 Health Partners has 45 calendar days from the date of the notice to submit a plan to regain compliance. If the plan is accepted by Nasdaq staff, the company may be granted an extension of up to 180 calendar days from November 21, 2025, to demonstrate compliance with the listing requirements.
Nasdaq staff will review the submitted compliance plan and provide written notification regarding its acceptance. If the plan is not accepted, P3 Health Partners would have the right to appeal the decision to the Nasdaq Hearings Panel.
P3 Health Partners stated it intends to submit a remediation plan within the required timeframe and is working to address the listing deficiency.
This information is based on a statement in a press release and a filing with the Securities and Exchange Commission.
In other recent news, P3 Health Partners reported its third-quarter financial results, revealing a 5% decrease in revenue compared to the same period last year. The company recorded revenue of $345.25 million and posted a quarterly loss of $9.67 per share. This decline in revenue is attributed to a strategic 10% reduction in at-risk membership, aligning with P3 Health Partners’ network and payer rationalization strategy. The membership now stands at approximately 116,000 members. Despite the reduction in membership, per-member funding saw a 6% improvement year-over-year when adjusted for prior-period items. These developments highlight the company’s ongoing efforts to transition toward profitability.
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