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ZyVersa Therapeutics, Inc. (NASDAQ:ZVSA), a micro-cap pharmaceutical company with a market capitalization of $2.68 million, announced it received notice from the Nasdaq Hearings Panel that its request to continue listing on the Nasdaq Capital Market has been denied. The company’s stock has already fallen 87% over the past year, according to InvestingPro data. According to a statement in a press release, the company was notified on July 15 by The Nasdaq Stock Market LLC that its appeal regarding noncompliance with the minimum bid price requirement under Listing Rule 5550(a)(2) was unsuccessful. The stock currently trades at $0.37, significantly below its 52-week high of $5.22.
The company had previously appealed a determination by Nasdaq’s Listing Qualifications Department and requested an exception to complete its compliance plan. The panel’s decision, detailed in the letter received Tuesday, concludes that ZyVersa’s securities will be suspended from trading on the Nasdaq Capital Market at the open of trading on July 17.
ZyVersa has 15 days from the date of the panel’s decision to request a review by the Nasdaq Listing and Hearing Review Council. The council may also initiate a review on its own within 45 calendar days of the panel’s decision.
Following the suspension and anticipated delisting, ZyVersa stated it plans to apply for trading on the Pink Limited Market operated by OTC Markets Group Inc. The company expects its common stock will begin trading on the Pink Limited Market, under the symbol ZVSA, on or about July 17, 2025.
ZyVersa Therapeutics is a pharmaceutical company incorporated in Delaware and headquartered in Weston, Florida. The company’s common stock has been listed on the Nasdaq Capital Market under the ticker ZVSA.
This information is based on a statement provided in a press release and the company’s filing with the Securities and Exchange Commission.
In other recent news, ZyVersa Therapeutics announced that its investigational drug VAR 200 has been authorized by the FDA for Emergency Compassionate Use in a patient with ApoCII amyloidosis, a rare kidney disease. This development is part of ZyVersa’s ongoing efforts, as the company has also begun patient recruitment for a Phase 2a study of VAR 200, aimed at treating diabetic kidney disease. The trial will evaluate the drug’s efficacy and safety, with preliminary results expected in the second half of 2025. Additionally, ZyVersa has entered a $10 million share purchase agreement with Williamsburg Venture Holdings to fund the advancement of VAR 200’s clinical development. The company is also exploring the potential of its Inflammasome ASC Inhibitor IC 100 for Parkinson’s Disease, with promising study results published in a peer-reviewed journal. ZyVersa plans to initiate proof-of-concept studies in Parkinson’s Disease animal models later this year. Furthermore, ZyVersa is positioning IC 100 as a complementary therapy for obesity-related cardiometabolic issues, with preclinical studies set to begin in 2025. These developments highlight ZyVersa’s strategic focus on advancing treatments for both renal and inflammatory diseases.
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