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Silexion Therapeutics Corp (NASDAQ:SLXN) announced Tuesday that it received a favorable decision from a Nasdaq hearings panel, allowing the company to remain listed on the exchange, subject to certain conditions. The decision follows a hearing held June 26, where Silexion appealed a delisting notice issued by the Nasdaq Listing Qualifications Department on May 22 due to two listing deficiencies.
As a result of the panel’s decision, Silexion’s ordinary shares and warrants will be transferred from the Nasdaq Global Market to the Nasdaq Capital Market, with trading continuing under the existing symbols “SLXN” and “SLXNW.” The transfer is expected to take effect Tuesday.
According to a statement in the company’s SEC filing, continued listing on the Nasdaq Capital Market is contingent on Silexion meeting the terms of a compliance plan presented at the hearing. The plan requires Silexion to demonstrate, by September 19, 2025, that it has restored and expects to maintain at least $2.5 million in shareholders’ equity, as shown in a balance sheet not older than 60 days included in a filing with the Securities and Exchange Commission.
If Silexion fails to maintain compliance with any Nasdaq listing rule by November 18, 2025, the company must submit a compliance plan for review by the Nasdaq hearings panel, which will retain jurisdiction over Silexion’s listing status until that date.
Silexion also disclosed to the panel that it may soon become deficient with Nasdaq Listing Rule 5550(a)(2), which concerns the minimum bid price requirement. The company stated it expects to address this potential deficiency through a proposed 1-for-15 reverse share split, pending shareholder approval at the reconvened annual general meeting scheduled for July 14, 2025. If approved, the reverse split is expected to be completed on or about July 25, 2025.
The company noted there can be no assurance that it will successfully meet all compliance requirements for continued listing.
All information is based on a statement in the company’s SEC filing.
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