--- title: "Envoy Medical receives Nasdaq deficiency notice on $35,000,000 market value" url: "https://aibio.space/news/envoy-medical-receives-nasdaq-deficiency-notice-35-000-000-market/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-03-03" section: "Listings" tickers: "NASDAQ:COCH" source: "https://www.sec.gov/Archives/edgar/data/1840877/000121390025019425/ea0232856-8k_envoy.htm" summary: "Nasdaq says the market value of Envoy Medical's listed securities did not meet the minimum for 31 consecutive business days. The company has until August 2" --- By the aibio.space news desk. Sources - [Envoy Medical, Inc. Form 8-K filed March 3, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1840877/000121390025019425/ea0232856-8k_envoy.htm) - [Envoy Medical, Inc. Form 10-K filed April 1, 2024: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1840877/000121390024028894/ea0202966-10k_envoy.htm) [COCH](https://aibio.space/companies/envoy-medical/) 2025-03-03 # Envoy Medical receives Nasdaq deficiency notice on $35,000,000 market value requirement Tickers [COCH](https://aibio.space/companies/envoy-medical/) Nasdaq says the market value of Envoy Medical's listed securities did not meet the minimum for 31 consecutive business days. The company has until August 25, 2025 to regain compliance. ## Key facts - **Company**: Envoy Medical, Inc. (NASDAQ: COCH) - **News type**: Listings - **Primary source**: [Envoy Medical, Inc. Form 8-K filed March 3, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1840877/000121390025019425/ea0232856-8k_envoy.htm) *The stone facade of a federal building. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Envoy Medical, Inc. (Nasdaq: [COCH](https://aibio.space/companies/envoy-medical/)) received a Nasdaq deficiency notice on February 25, 2025 stating that it was not in compliance with a market value requirement for continued listing. The company disclosed the letter in a [Form 8-K filed March 3, 2025](https://www.sec.gov/Archives/edgar/data/1840877/000121390025019425/ea0232856-8k_envoy.htm). The notice says the market value of its listed securities was below the $35,000,000 minimum. Nasdaq's rules give the company until August 25, 2025 to regain compliance, and the company may be subject to delisting if it does not. ## What the filing says The company received a deficiency notification letter from The Nasdaq Stock Market on February 25, 2025. Nasdaq told the company it was not in compliance with Nasdaq Listing Rule 5550(b)(2). The letter said the company was out of compliance because the market value of its listed securities did not meet the minimum of $35,000,000 for 31 consecutive business days between January 7, 2025 and February 24, 2025. The company reported the letter under Item 3.01 of Form 8-K, the item used for notices of delisting or a failure to satisfy a continued listing rule or standard. ## The path back to compliance Under Nasdaq's rules, the company will return to compliance if the market value of its listed securities exceeds $35,000,000 for ten consecutive business days during the subsequent 180 day period. That period expires on August 25, 2025. The filing says that if the company does not regain compliance before the compliance period ends, it may be subject to delisting from Nasdaq. ## About Envoy Medical Envoy Medical describes itself as a hearing health company focused on medical technologies across the hearing loss spectrum. In its [annual report on Form 10-K filed April 1, 2024](https://www.sec.gov/Archives/edgar/data/1840877/000121390024028894/ea0202966-10k_envoy.htm), the company said it was founded in 1995 to create a fully implanted hearing device that uses the natural ear, rather than an artificial microphone, to pick up sound. Its first product, the Esteem Fully Implanted Active Middle Ear Implant, was created in 2006 and received FDA approval in 2010. The company says it remains the only FDA approved fully implanted active hearing device on the market. The 10-K says the device failed to gain commercial traction, mainly because the Centers for Medicaid and Medicare Services classified it as a hearing aid and therefore not eligible for coverage. At an average total price of over $25,000 for device and surgery, few people were willing or able to pay out of pocket. Roughly 1,000 devices were implanted globally. In late 2015, the company decided to shift its focus to a new product that incorporates the same sensor technology into a cochlear implant. As a result, it has developed the investigational fully implanted Acclaim CI. The 10-K says the sensor picks up incoming sound energy from the ossicular chain, the three tiny hearing bones that connect the eardrum to the cochlea. The 10-K says the Acclaim CI is investigational and, under federal law, limited to investigational use. The 10-K for 2023 also carries a going concern warning. It says the audited financial statements as of December 31, 2023 contain an explanatory paragraph regarding substantial doubt about the company's ability to continue as a going concern, which could limit its ability to raise money through equity or debt. The company calls itself a development-stage company with a history of net losses and negative cash flow from operations. ## Losses and cash For the year ended December 31, 2023, the 10-K says net cash used in operating activities was primarily used to fund a net loss of approximately $29.9 million. Cash flows used in operating activities were $17,654 thousand, against $8,805 thousand a year earlier, and financing activities provided $21,845 thousand. The company says it expects to satisfy future cash needs through debt or equity financing until it can generate significant recurring revenues, and that funding may not be available on acceptable terms. David R. Wells, Chief Financial Officer, signed the 8-K. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story COCH Envoy Medical, Inc. 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Cite as: aibio.space, "Envoy Medical receives Nasdaq deficiency notice on $35,000,000 market value", 2025-03-03, https://aibio.space/news/envoy-medical-receives-nasdaq-deficiency-notice-35-000-000-market/