Petros Pharmaceuticals to be delisted from Nasdaq

Petros Pharmaceuticals, Inc. has received notification from the Nasdaq Hearings Panel that its securities will be delisted from The Nasdaq Stock Market LLC. The notice, dated May 20, 2025, outlines multiple non-compliances including the minimum stockholders’ equity requirement and the minimum bid price requirement, as well as concerns related to a public offering conducted on February 19, 2025. According to InvestingPro data, the company’s stock has declined nearly 99% over the past year, with its market capitalization dropping to just $270,000. The stock currently trades at $0.12, significantly below its 52-week high of $18.

The pharmaceutical company, which is incorporated in Delaware and headquartered in New York, failed to meet Nasdaq’s continued listing standards. Specifically, the company did not comply with the stockholders’ equity rule, the $1.00 minimum bid price per share rule, and faced issues with the bid price’s low level. Furthermore, Nasdaq cited public interest concerns regarding the company’s recent public securities offering. InvestingPro analysis reveals concerning financial metrics, including negative EBITDA of -$7.43 million and a weak overall financial health score of 1.61 out of 10. The company’s current ratio of 0.53 indicates its short-term obligations exceed liquid assets.

As a result, trading of Petros Pharmaceuticals’ common stock, with the ticker symbol PTPI, will be suspended at the opening of the market on May 22, 2025. The company’s stock is expected to begin trading on the OTC Markets under the same symbol following the suspension on Nasdaq. Trading data from InvestingPro shows average daily volume of 7.79 million shares over the past three months, with the stock experiencing high price volatility and currently trading near its 52-week low.

Petros Pharmaceuticals has a 15-day period from the receipt of the letter to request a review of the delisting decision by the Nasdaq Listing and Hearing Review Council. The company has indicated its intention to appeal the delisting determination. While the appeal will delay the filing of the Form 25, which would formally remove the company’s securities from listing and registration on Nasdaq, it will not prevent the suspension of trading on Nasdaq.

There is no guarantee that the appeal will result in continued listing on Nasdaq. This development follows the company’s challenges in maintaining the necessary financial and market standards set by Nasdaq for its listed companies. The information is based on a press release statement filed with the SEC.

In other recent news, Petros Pharmaceuticals is appealing a delisting determination from Nasdaq, with plans to move its common stock trading to the OTC Markets. The company maintains a strong cash position of over $10 million and has announced a 1-for-25 reverse stock split, which became effective on April 30, 2025. Petros has partnered with Innolitics to enhance its Software-as-a-Medical Device platform, integrating AI and cybersecurity to support the transition of prescription drugs to over-the-counter status. The collaboration aims to improve the platform’s commercial viability and scalability. Additionally, Petros has upgraded its AI platform with features such as deep fake detection and enhanced facial recognition to aid in Rx-to-OTC switches. The company is pivoting towards smart healthcare technology, developing a SaaS platform in line with FDA guidelines. These strategic moves align with the FDA’s Additional Conditions for Nonprescription Use framework and President Trump’s Make America Healthy Again initiative. Petros is positioning itself as a leader in the self-care market, valued at over $38 billion, and is exploring opportunities for partnerships with pharmaceutical companies.

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