PRF Technologies Receives Nasdaq Delisting Determination Regarding Minimum Bid Price Requirement and Requests a Hearing
Key Highlights
- ➤Nasdaq issued delisting determination after PRFX stayed below $1.00 for 30 business days
- ➤PRFX requested a hearing, staying suspension and delisting while shares continue trading
- ➤Nasdaq may grant up to 180 days, until May 8, 2027, to regain compliance
- ➤PRF reported approximately US$11.0 million in preliminary cash and short-term deposits
- ➤LayerBio expects Phase 2 OcuRing™-K patient enrollment to begin before year-end 2026
Expert Statements
Efraim Cohen-Arazi, Interim Chief Executive Officer of PRF Technologies
“The notice does not affect our current business operations. We had approximately US$11.0 million in cash and short-term deposits as of September 30, 2026, based on preliminary unaudited information, and our majority-owned subsidiary LayerBio expects to begin enrolling patients in the Phase 2 trial of OcuRing™-K before year-end 2026. We are also working toward completing the proposed GridFeed transaction with Dotz, which is subject to a non-binding term sheet and the negotiation and execution of definitive agreements. We intend to present the Panel with a plan to regain compliance, which we believe will support our request for continued listing on Nasdaq.”
TEL AVIV, Israel, Nov. 12, 2026 (GLOBE NEWSWIRE) -- PRF Technologies Ltd. (Nasdaq: PRFX) (“PRF” or the “Company”) today announced that on November 9, 2026, it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price of its ordinary shares had been below US$1.00 per share for 30 consecutive business days, from September 24, 2026 through November 4, 2026, and that the Company therefore does not meet the minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2).
Companies that do not meet the minimum bid price requirement are normally given a 180-calendar day period to regain compliance. Because the Company effected a 1-for-5 reverse share split on February 6, 2026, within the prior one-year period, Nasdaq Listing Rule 5810(c)(3)(A)(iv) provides that the Company is not eligible for that compliance period, and Nasdaq staff has issued a determination to delist the Company’s securities from the Nasdaq Capital Market.
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