Beijing, China, Dec. 05, 2025 (GLOBE NEWSWIRE) -- Pheton Holdings Ltd (NASDAQ: PTHL) (“Pheton” or the “Company”), a healthcare solution provider specializing in treatment planning systems for brachytherapy and other related products and services, today announced the successful completion of its acquisition of 51% of the total outstanding shares of iTonic Corporation (the “Target”), a U.S.-based integrated home health AI company that combines AI, medical device automation, and easier access to clinical exper ...

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]

Core Viewpoint - Pheton Holdings Ltd has issued a statement addressing recent market volatility and a speculative article that has negatively impacted its share price, denying any involvement in stock price manipulation or acquisition rumors [2][3]. Company Response - The management team of Pheton categorically denies any knowledge or participation in rumors regarding an acquisition by Gilead Sciences, asserting that such claims are false [3]. - Pheton plans to engage with market makers, Nasdaq, and regulatory bodies to hold responsible parties accountable for the misinformation [4]. Shareholder Protection - The company acknowledges the concerns raised among investors and is enhancing internal controls and communications to counter misinformation effectively [5]. Commitment to Governance - Pheton emphasizes its commitment to corporate governance, transparency, and accountability, focusing on long-term shareholder value through strategic growth opportunities [6]. Business Foundation - Pheton is built on trust, innovation, and value creation, expressing confidence in its underlying business strength and long-term strategy [7]. Communication with Shareholders - The company values shareholder trust and commits to providing accurate and timely disclosures to the investor community [8]. Company Overview - Founded in 1998, Pheton Holdings Ltd specializes in healthcare solutions for brachytherapy, with its lead product being a Treatment Planning System that enhances the safety and effectiveness of cancer treatment [9].