LAS VEGAS, March 15, 2024 /PRNewswire/ -- JanOne (Nasdaq:
JAN), the biopharmaceutical company focused on developing
non-addicting painkillers and novel treatments for the causes of
pain, today announced that on March 13, 2024 it received a notification letter
from the Listing Qualifications Staff of The Nasdaq Stock Market
Inc. ("Nasdaq") indicating that the Company had regained compliance
with the minimum bid price requirement set forth in Rule 5550(a)(2)
of the Nasdaq Listing Rules (the "Minimum Bid Price
Requirement").
As previously announced, the Company received a notification
letter from Nasdaq on September 11,
2023, indicating that the closing bid price per share had
been below $1.00 for a period of 30
consecutive business days and that the Company did not meet the
Minimum Bid Price Requirement.
Nasdaq has determined that for the last 10 consecutive business
days, the closing bid price of the Company's common stock has been
at $1.00 per share or greater.
Accordingly, the Staff informed the Company that it has
regained compliance with Listing Rule 5550(a)(2) and that this
matter is closed.
About JanOne Inc. — JanOne is a unique Nasdaq-listed
company offering innovative, actionable solutions intended to help
end the opioid crisis. JanOne is dedicated to funding resources
toward innovation, technology, and education to find a key
resolution to the national opioid epidemic, which is one of the
deadliest and most widespread in the nation's history. Its drugs in
the clinical trial pipeline have shown promise for their innovative
targeting of the causes of pain as a strategic option for
physicians averse to exposing patients to addictive opioids.
Please visit www.janone.com for additional information.
Forward Looking Statements
This press release contains statements that are forward-looking
statements as defined within the Private Securities Litigation
Reform Act of 1995, including, but not limited to, statements
relating to the statements that JAN 101 will treat PAD, that JAN
123 will treat CRPS, the timing of the commencement of clinical
trials, that the FDA will permit approval through a 505(b)(2)
pathway for JAN 123, that upon approval JAN 101 will immediately
disrupt the PAD market, and other statements, including words such
as "continue", "expect", "intend", "will", "hope" "should",
"would", "may", "potential" and other similar expressions. Such
statements reflect JanOne's current view with respect to future
events, are subject to risks and uncertainties, and are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by JanOne, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause JanOne's
actual results, performance or achievements to be materially
different from any future results, performance or achievements
described in this press release. Such factors could include, among
others, those detailed in the Company's periodic reports filed with
the Securities and Exchange Commission (the "SEC"). Should one or
more of these risks or uncertainties materialize, or should the
assumptions set out in the section entitled "Risk Factors" in
JanOne's filings with the SEC underlying those forward-looking
statements prove incorrect, actual results may vary materially from
those described herein. These forward-looking statements are made
as of the date of this press release and JanOne does not intend,
and does not assume any obligation, to update these forward-looking
statements, except as required by law. JanOne cannot assure that
such statements will prove to be accurate as actual results and
future events could differ materially from those anticipated in
such statements. Individuals are cautioned that forward-looking
statements are not guarantees of future performance and accordingly
investors are cautioned not to put undue reliance on
forward-looking statements due to the inherent uncertainty
therein.
Media Contact Investor Relations
IR@janone.com
1-800-400-2247
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SOURCE JanOne Inc.