Profusa Inc. (NASDAQ: PFSA) has regained compliance with Nasdaq listing requirements, the company said on September 9, after meeting both the minimum bid-price and minimum equity standards.
The Berkeley-based digital health company developing biosensor technologies confirmed receipt of written notification from The Nasdaq Stock Market LLC that it satisfies Listing Rule 5550(a)(2), which governs the minimum bid-price requirement, and Listing Rule 5550(b)(1), which sets the minimum equity standard.
Despite the compliance confirmation, Profusa will remain subject to a one-year mandatory panel monitoring period. Should the company fail to meet the equity rule during that window, Nasdaq will issue a delisting determination directly, without offering an opportunity to submit a compliance plan.
Profusa retains the right to appeal any such determination by requesting a hearing, which would stay further Nasdaq action until the hearing concludes and any extension granted by the panel expires.
The compliance announcement follows earlier strategic moves by the company. Profusa previously disclosed an option agreement granting it the right to acquire G3 Vision Labs Inc. and its subsidiaries, subject to certain conditions. Upon exercise of the option, the combined entity is expected to operate as a public diagnostics company.
