--- title: "Pluri gets Nasdaq extension to May 24, 2025 to regain stockholders' equity" url: "https://aibio.space/news/pluri-gets-nasdaq-extension-may-24-2025-regain-stockholders-equity/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-01-21" section: "Listings" tickers: "NASDAQ:PLUR" source: "https://www.sec.gov/Archives/edgar/data/1158780/000121390025004755/ea0227893-8k_pluri.htm" summary: "Nasdaq accepted Pluri's compliance plan after a November 25, 2024 deficiency letter. The company must show $2,500,000 in stockholders' equity by the deadli" --- By the aibio.space news desk. Sources - [Pluri Inc. Form 8-K filed January 21, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1158780/000121390025004755/ea0227893-8k_pluri.htm) - [Pluri Inc. Form 10-K filed September 18, 2024 for the fiscal year ended June 30, 2024: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1158780/000121390024079861/ea0213910-10k_pluriinc.htm) [PLUR](https://aibio.space/companies/pluri/) 2025-01-21 # Pluri gets Nasdaq extension to May 24, 2025 to regain stockholders' equity compliance Tickers [PLUR](https://aibio.space/companies/pluri/) Nasdaq accepted Pluri's compliance plan after a November 25, 2024 deficiency letter. The company must show $2,500,000 in stockholders' equity by the deadline or may face delisting, and its shares keep trading as PLUR. ## Key facts - **Company**: Pluri Inc. (NASDAQ: PLUR) - **News type**: Listings - **Primary source**: [Pluri Inc. Form 8-K filed January 21, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1158780/000121390025004755/ea0227893-8k_pluri.htm) *An aerial view of the Capitol and its grounds. CC0, via rawpixel. The picture shows the field, not the companies named.* Pluri Inc. (Nasdaq: [PLUR](https://aibio.space/companies/pluri/)) has until May 24, 2025 to show that it meets Nasdaq's minimum stockholders' equity requirement. Nasdaq granted the extension after accepting the company's compliance plan. Pluri disclosed the extension in a [Form 8-K filed January 21, 2025](https://www.sec.gov/Archives/edgar/data/1158780/000121390025004755/ea0227893-8k_pluri.htm) under Item 3.01, which covers notices of a failure to satisfy a continued listing rule. ## The deficiency On November 25, 2024, the Listing Qualifications Department of The Nasdaq Stock Market LLC sent Pluri a deficiency letter. It said Pluri was not in compliance with Nasdaq Listing Rule 5550(b)(1). That rule requires a company on The Nasdaq Capital Market to keep at least $2,500,000 in stockholders' equity, which is the assets left after liabilities are subtracted. The letter also said Pluri met neither of Nasdaq's alternative standards. One is a market value of listed securities of at least $35 million. The other is net income from continuing operations of $500,000 in the latest fiscal year, or in two of the three latest fiscal years. Pluri therefore had to meet the equity test on its own. ## The plan and the deadline Pluri submitted a plan to regain compliance on January 6, 2025. Nasdaq decided to extend the time to meet the equity requirement until May 24, 2025. If the company does not show compliance by then, it may be delisted. At that point Pluri may appeal the Nasdaq staff's decision to a Hearings Panel. Pluri says it will take all reasonable measures to regain compliance and remain listed. It also says there can be no assurance it will meet all continued listing requirements. The 8-K states that neither the letter nor the noncompliance has an immediate effect on the listing or trading of the common shares, which continue to trade on The Nasdaq Capital Market under the symbol "PLUR". The 8-K's forward-looking statements add that Pluri may not be able to complete a financing on favorable terms, in a timely way or at all. A financing is the most direct route to higher equity, but the filing does not describe one. ## The annual report The annual report for the fiscal year ended June 30, 2024, filed September 18, 2024, describes Pluri as a biotechnology company with a three-dimensional cell expansion platform and an in-house manufacturing facility. It reports that cash used in operating activities fell to $18,021,000 in fiscal 2024 from $22,857,000 in fiscal 2023. The company attributes the decline to a smaller net loss after certain clinical trials were completed, and to a cost reduction plan that included a temporary cut in executive and employee salaries. The same report shows a working capital surplus of $26,653,000 at June 30, 2024, and an accumulated deficit of $420,472,000. Working capital and stockholders' equity are different measures, and the 8-K does not explain how the annual report's surplus relates to the shortfall Nasdaq cites against the $2,500,000 requirement. ## Reading the notice The 8-K does not state Pluri's stockholders' equity at the date of the letter, the amount of the shortfall, or the size of any financing that would close it. It also does not say what the compliance plan contains beyond its submission date. The company therefore has until May 24, 2025 to close a gap of unknown size, and the notice does not show how close it is. The 8-K is silent on the cash position since June 30, 2024, and on whether the business has moved toward profitability since then. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story PLUR Pluri Inc. 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Cite as: aibio.space, "Pluri gets Nasdaq extension to May 24, 2025 to regain stockholders' equity", 2025-01-21, https://aibio.space/news/pluri-gets-nasdaq-extension-may-24-2025-regain-stockholders-equity/