XTL Biopharmaceuticals Plans to Acquire 85% of NeuroNOS Shares
XTL Biopharmaceuticals (XTLB) announced that it is working to close the acquisition of 85% of the shares of NeuroNOS from Beyond Air (XAIR) following the execution of the binding letter of intent on January 13 and has already scheduled a shareholders meeting for February 17 to approve a private placement of up to $2M. Management of the company believes that the completion of the proposed transaction to acquire 85% of the shares of NeuroNOS as well as the private placement, will remedy its deficiency under Nasdaq Listing Rule 5550 to maintain a minimum of $2.5M in stockholders' equity. The company is currently working to submit to Nasdaq a plan to regain compliance with this Nasdaq Listing Rule. However, there can be no assurance at this point that the proposed acquisition will close in a timely manner or at all or that shareholders will approve the private placement in a timely manner or at all, nor can there be any assurance that Nasdaq will approve the company's plan, that the company will regain compliance with the stockholders' equity rule, or that the company will maintain compliance with any of Nasdaq's other listing rules.
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XTL Biopharmaceuticals Faces Nasdaq Delisting Risk with $47,000 Equity Deficit
- Delisting Risk Notification: XTL Biopharmaceuticals received a notice from Nasdaq on January 20, 2026, indicating non-compliance with continued listing requirements due to a stockholders' equity deficit, highlighting the company's precarious financial situation.
- Equity Deficit: The company's Form 6-K filed on December 30, 2025, revealed a $47,000 stockholders' equity deficit, indicating poor financial health that could undermine investor confidence.
- Compliance Evaluation: The company stated it is evaluating options to regain compliance and intends to act within Nasdaq's required timeframe, demonstrating its commitment to addressing the issue.
- Potential Market Impact: Failure to restore compliance in a timely manner could lead to delisting, adversely affecting the company's ability to raise capital and damaging its market reputation, thereby increasing operational uncertainties going forward.
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