--- title: "Aspire Biopharma (now Aspire-Lakewood Holdings) gets two Nasdaq deficiency" url: "https://aibio.space/news/aspire-biopharma-now-aspire-lakewood-holdings-gets-two-nasdaq/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-04-18" section: "Listings" tickers: "NASDAQ:ASBP" source: "https://www.sec.gov/Archives/edgar/data/1847345/000164117225005427/form8-k.htm" summary: "One letter cites the $50,000,000 market value of listed securities rule, with a deadline of October 13, 2025. The other cites the $1.00 minimum bid price r" --- By the aibio.space news desk. Sources - [Aspire-Lakewood Holdings, Inc. 8-K (2025-04-18)](https://www.sec.gov/Archives/edgar/data/1847345/000164117225005427/form8-k.htm) [ASBP](https://aibio.space/companies/aspire-lakewood/) 2025-04-18 # Aspire Biopharma (now Aspire-Lakewood Holdings) gets two Nasdaq deficiency letters Tickers [ASBP](https://aibio.space/companies/aspire-lakewood/) One letter cites the $50,000,000 market value of listed securities rule, with a deadline of October 13, 2025. The other cites the $1.00 minimum bid price rule. ## Key facts - **Company**: Aspire-Lakewood Holdings, Inc. (NASDAQ: ASBP) - **News type**: Listings - **Primary source**: [Aspire-Lakewood Holdings, Inc. 8-K (2025-04-18)](https://www.sec.gov/Archives/edgar/data/1847345/000164117225005427/form8-k.htm) *Old law books on library shelves. CC0, via rawpixel. The picture shows the field, not the companies named.* ## The two letters Aspire Biopharma Holdings, Inc., which EDGAR now lists as Aspire-Lakewood Holdings, Inc., received two letters from the Nasdaq Stock Exchange on April 16, 2025. The company disclosed them in a Form 8-K dated April 18, 2025, under Item 3.01, the item for notices of a failure to satisfy a continued listing rule. The common stock trades on Nasdaq under the symbol ASBP. The 8-K is signed by Kraig Higginson, chief executive officer, and gives an address in Humacao, Puerto Rico. The first letter, the MVLS notice, cites Nasdaq Rule 5450(b)(2)(A). That rule applies to a company whose securities are listed on The Nasdaq Global Market under the "Market Value Standard." Such a company must maintain a minimum market value of listed securities, or MVLS, of $50,000,000. The 8-K says Aspire's MVLS had been below that minimum for the prior 30 consecutive business days. The filing does not give the market value the company reported. The second letter, the bid price notice, cites Rule 5450(a)(1). That rule requires a minimum bid price of $1.00 per share for continued listing on The Nasdaq Global Market. ## The compliance period Under Nasdaq Listing Rule 5810(c)(3)(C), Aspire has a 180-day period, ending on October 13, 2025, to rectify the MVLS deficiency. To do so, it must achieve and maintain an MVLS of at least $50,000,000 for a minimum of 10 consecutive business days. The 8-K refers to a 180-day compliance period for both notices but gives a date only for the market value rule. If Aspire does not regain compliance before that period ends, Nasdaq will notify it that its securities are subject to delisting. The company could then appeal to a Nasdaq hearings panel, or apply to move its listing to The Nasdaq Capital Market if it meets that market's continued listing requirements. The 8-K says there can be no assurance that the company will regain compliance with the bid price requirement or meet other listing criteria. The company says it is considering actions it may take in response, and adds that "no decisions about a response have been made at this time." ## The business behind the listing The company's annual report, filed April 7, 2025, describes Aspire as an early-stage biopharmaceutical company developing sublingual delivery technology, initially for known drugs. The report says the company was a privately held Puerto Rico corporation incorporated in September 2021 before the business combination, and that the Delaware corporation was formed in February 2025. The lead program is a high-dose sublingual aspirin, which the report calls Instaprin for ease of reference. The company plans to support a Section 505(b)(2) New Drug Application for that product. The report describes a first trial expected to enroll at least eight healthy adult volunteers, to choose a formulation and design a second trial. The second trial would test whether sublingual dosing delivers blood levels comparable to standard oral aspirin, but faster and without the gastrointestinal toxicity associated with oral aspirin. The report says the first trial has been designed, and the second trial's design depends on its results. The report says the company has no licensing or collaboration agreements. It has not built a sales, marketing or distribution organization, because its lead candidates are still in early-stage clinical development. It relies on contract manufacturers. Glatt produces the aspirin drug product under a development and manufacturing agreement entered into in the fourth quarter of 2024, and the report says Glatt's current capacity may be insufficient to meet the company's planned needs. The company filed a patent application in March 2023 for a new patent-pending formulation, which the report says improves on an earlier formulation acquired through the Instaprin Pharmaceuticals, Inc. acquisition. ## What the filings leave open The 8-K does not say how the company intends to raise money, or what it would do if the market value does not recover. It gives no cash balance and no trial timetable. A company with no licensing deal, a lead program still in planning and a listing deficiency on two rules faces the next compliance date with few disclosed options, and the filing does not say which option it will take. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story ASBP Aspire-Lakewood Holdings, Inc. NASDAQ ยท United States Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/aspire-biopharma-now-aspire-lakewood-holdings-gets-two-nasdaq/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Aspire Biopharma (now Aspire-Lakewood Holdings) gets two Nasdaq deficiency", 2025-04-18, https://aibio.space/news/aspire-biopharma-now-aspire-lakewood-holdings-gets-two-nasdaq/