Enlivex Plans Appeal After Nasdaq Delisting Determination

Enlivex Ltd. (Nasdaq: ENLV) plans to appeal Nasdaq’s determination to delist its ordinary shares after their closing bid stayed below the $1 minimum for 30 consecutive business days before Oct. 22.

The notice is dated Oct. 26. A reverse split during the preceding year disqualifies an issuer with a minimum-bid deficiency from a 180-day compliance period. Enlivex’s 1-for-15 reverse split took effect July 9; its 1-for-16 split became effective Oct. 27, following the previously announced 1-for-16 split plan.

Enlivex plans to request an oral hearing before the Nasdaq Hearings Panel. A request may be filed within seven calendar days of the determination, and a timely filing ordinarily stays suspension and delisting pending a written Panel decision.

Enlivex wrote, “The Company cannot provide assurances that the Appeal will ultimately be successful and that its ordinary shares will continue to trade on the Nasdaq Capital Market following the hearing.”