Core Viewpoint - Pheton Holdings Ltd has received a notification from Nasdaq indicating that it no longer meets the minimum bid price requirement for continued listing, with a compliance period until April 20, 2026, to regain compliance [1][2][3] Group 1: Nasdaq Compliance Notification - The Company was notified by Nasdaq that it does not meet the continued listing requirement under Rule 5550(a)(2) due to the Class A ordinary shares' closing bid price being below $1 for the last 30 consecutive business days [1] - Nasdaq has granted the Company a compliance period of 180 calendar days, until April 20, 2026, to regain compliance [2] - If the Company fails to regain compliance within this period, it may be eligible for an additional 180 days if it meets other listing standards and provides written notice of its intention to cure the deficiency [2] Group 2: Company's Response and Future Plans - The Company is currently evaluating options to regain compliance and is committed to making reasonable efforts to meet Nasdaq's continued listing requirements [3] - There is no assurance that the Company will successfully regain compliance with the bid price requirement or other Nasdaq listing standards [3] Group 3: Company Overview - Pheton Holdings Ltd, founded in 1998, specializes in healthcare solutions for brachytherapy, a targeted radiation therapy for cancer treatment [4] - The Company's lead product, the Treatment Planning System, is designed to ensure safe and effective brachytherapy using radioactive sources to treat cancer [4] - Pheton Holdings aims to establish a new standard of care across multiple malignant tumor applications through its products and services [4]
Pheton Holdings Ltd Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency