UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On June 16, 2023, Minerva Neurosciences, Inc. (the “Company”) received written notice (the “Compliance Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that it has regained compliance with Nasdaq Listing Rule 5550(b)(2) (the “Rule”) which requires that companies listed on The Nasdaq Capital Market maintain a minimum Market Value of Listed Securities, as defined by Nasdaq (“MVLS”), of $35 million or greater. The Company’s securities will continue to be listed and traded on Nasdaq.
As previously reported, on December 1, 2022, the Company received written notice from Nasdaq notifying the Company that for the previous 30 consecutive business days, the Company’s MVLS had been below the $35 million minimum required for continued listing on The Nasdaq Capital Market pursuant to the Rule. To regain compliance, the Company was required to maintain an MVLS of $35 million or greater for a minimum of ten consecutive business days. The Company had until May 30, 2023 to regain compliance with the Rule.
Also as previously reported, on May 31, 2023, the Company received a second written notice from Nasdaq indicating that, based upon the Company’s continued non-compliance with the Rule, the staff of Nasdaq had determined to delist the Company’s securities from The Nasdaq Capital Market unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the “Panel”). The Company timely requested a hearing before the Panel. Subsequently, the Company’s MVLS had been $35 million or greater for ten consecutive business days.
Nasdaq notified the Company in the Compliance Notice that the Nasdaq Listing Qualifications staff had determined that the Company has regained compliance with the Rule, and that the Company is therefore in compliance with The Nasdaq Capital Market’s listing requirements. Consequently, the scheduled hearing before the Panel has been cancelled.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MINERVA NEUROSCIENCES, INC. | ||||||
| Date: June 20, 2023 | By: | /s/ Geoffrey Race | ||||
| Geoffrey Race | ||||||
| President | ||||||
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