PaxMedica Files 8-K Following Nasdaq Compliance Achievement

NewMediaWire· Investor Brand Network
In this article:

LOS ANGELES, CA - (NewMediaWire) - December 22, 2023 - (InvestorBrandNetwork via NewMediaWire) - This original article is powered by IBN, a financial news, content creation and publishing company.

In a significant corporate update, PaxMedica (NASDAQ: PXMD) today filed an 8-K with the Securities and Exchange Commission, disclosing its successful compliance with Nasdaq's minimum equity requirements.

Journey Towards Compliance

PaxMedica's compliance journey began on December 6, 2022, when Nasdaq noted its inability to meet the Minimum Market Value of Listed Securities Requirement of $35 million over 30 days. PaxMedica faced potential delisting in June 2023 but successfully appealed and, after a Nasdaq Hearings Panel review, received an exception to remain listed, subject to meeting specific financial criteria.

Achieving and Announcing Compliance

With the recent notification from Nasdaq, PaxMedica has now met the compliance criteria as outlined in Nasdaq Listing Rule 5550(b)(1). This rule stipulates that a company must either report net income from continuing operations of $750,000 in the last fiscal year or two of the last three fiscal years, or maintain stockholders' equity of at least $2.5 million. The 8-K filing today is a formal acknowledgment of this significant milestone.

Looking Forward

This development marks a new phase for PaxMedica, enabling it to focus on its business objectives while remaining a listed entity on The Nasdaq Capital Market. The company's successful navigation of Nasdaq's compliance requirements demonstrates its financial robustness and commitment to maintaining high governance standards. PaxMedica is now poised to continue its growth trajectory and enhance shareholder value.

To view the 8-K, visit

About PaxMedica Inc.

PaxMedica is a forward-looking, clinical-stage biopharmaceutical firm specializing in cutting-edge, anti-purinergic drug therapies ("APT") aimed at addressing a range of challenging neurologic disorders. The company's comprehensive portfolio encompasses a spectrum of conditions, including neurodevelopmental disorders such as autism spectrum disorder ("ASD") as well as other critical areas within the neurology field. PaxMedica is dedicated to the continuous development and evaluation of its pioneering program, PAX-101, an intravenous suramin formulation that lies at the heart of the company's efforts, particularly focused on innovative ASD treatment solutions. The company's ongoing research initiatives not only prioritize the needs of ASD patients but also extend to exploring potential therapeutic applications for related conditions. For more information about the company, visit

NOTE TO INVESTORS: IBN is a multifaceted financial news, content creation and publishing company utilized by both public and private companies to optimize investor awareness and recognition. For more information, please visit

The latest news and updates relating to PXMD are available in the company's newsroom at

About IBN

IBN consists of financial brands introduced to the investment public over the course of 17+ years. With IBN, we have amassed a collective audience of millions of social media followers. These distinctive investor brands aim to fulfill the unique needs of a growing base of client-partners. IBN will continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.

For more information, please visit

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published:

Corporate Communications

IBN (InvestorBrandNetwork)
Los Angeles, California
310.299.1717 Office