Aditxt (ADTX) Stock Sinks 20% After-Hours: Here’s What’s Going On

Aditxt Inc. (NASDAQ:ADTX) shares fell in after-hours trading on Wednesday after the company disclosed that Nasdaq’s Hearings Panel denied its request to maintain its listing on the exchange.

Aditxt closed Wednesday’s regular session at $0.0095, up 77.22%. In after-hours trading, shares fell to $0.0076, down 20%.

Aditxt is a social innovation platform focused on accelerating health-related technologies through collaborations with research institutions and industry partners.

Nasdaq To Suspend Trading

According to an 8-K filing, Nasdaq’s Hearings Panel notified Aditxt on June 23 that it had denied the company’s request to continue listing its common stock on the exchange.

As a result, trading in Aditxt’s common stock will be suspended at the open of trading on June 25.

Nasdaq had previously informed the company in May that it was not in compliance with listing requirements after its stock traded below the minimum bid price of $1 for 30 consecutive business days.

The exchange also cited the company’s failure to meet the minimum stockholders’ equity requirement of $2.5 million for continued listing. Aditxt reported stockholders’ equity of negative $35.17 million in its quarterly filing.

Nasdaq further noted that Aditxt was not eligible for the usual compliance period because the company had already conducted multiple reverse stock splits over the past two years with a cumulative ratio exceeding 250-to-1.

The company had requested a hearing, temporarily delaying the delisting process, but the panel ultimately rejected the appeal.

Aditxt said it may request a review of the decision by Nasdaq’s Listing and Hearing Review Council within 15 days.

Trading Metrics

Aditxt has a market capitalization of approximately 8000 dollars.

Over the past 12 months, ADTX shares have declined sharply.

Benzinga Edge Stock Rankings indicate negative short, medium and long-term price trends.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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