Psyence Biomedical Ltd. has successfully regained compliance with Nasdaq’s continued listing standards after transferring from The Nasdaq Global Market to The Nasdaq Capital Market. The company achieved this milestone through a 75-for-1 share consolidation, meeting the $1 minimum bid price requirement.
With a debt-free balance sheet and $5.6 million in cash reserves, Psyence is now poised to advance its business objectives and clinical trials. The company has already initiated patient screening as part of its ongoing clinical research. This restoration of compliance strengthens Psyence’s position in the market, offering reassurance to its stakeholders regarding the company’s operational stability.
About Psyence Biomedical
Psyence Biomedical Ltd. is a vertically integrated biopharmaceutical firm that specializes in psychedelic-based pharmaceutical therapies. It is the first life sciences biotechnology company developing psilocybin-based medicines derived from nature to be listed on Nasdaq. The company is focused on addressing mental health disorders within the context of Palliative Care, using an evidence-based approach to develop safe, FDA-approved psychedelic therapeutics.
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