Nasdaq Moves to Delist PRF Technologies After 30 Days Below $1 Per Share

Key Facts

Nasdaq issued a delisting determination against PRF Technologies after its stock failed to meet the minimum bid price requirement, and the company said it requested a hearing within the specified period. The move postpones suspension of the securities and their delisting until the Nasdaq hearings panel rules on the request. The company added that its shares will continue trading on the Nasdaq Capital Market under the symbol PRFX during the waiting period. The company received a letter from the Listing Qualifications Department on November 9 regarding its failure to meet the requirement. The determination puts the company on a path to regain compliance, with its listing pending the outcome of the review.

The company said its closing bid price remained below $1.00 per share for 30 consecutive business days, from September 24 to November 4, 2026, in violation of Nasdaq Rule 5550(a)(2). This period is the basis for the delisting determination and does not by itself set the stock’s trading level after November 4. The minimum required price was $1 per share. In EL7 data, PRFX closed at $0.7868 on November 12. That closing price came after the measurement period cited in Nasdaq’s letter ended, while the company confirmed that trading would continue as the panel considers its request.

The company said Nasdaq typically provides a 180-day compliance period to regain the minimum price, but it was not eligible for that period after implementing a 1-for-5 reverse stock split on February 6, 2026. This limits the time available to the company compared with the usual path Nasdaq described. Previous filings show the company conducted a 1-for-10 reverse stock split in 2023, followed by 1-for-6 and 1-for-4 splits in 2024. The February split was 1-for-5. These earlier actions put the share price issue in the context of the company’s repeated efforts to address listing requirements.

PRF Technologies said it will present a plan to regain compliance to the Nasdaq hearings panel, and the plan may include another reverse stock split if necessary. The panel may grant the company an exception of up to 180 days from the delisting determination. The company said that period could extend through May 8, 2027. This path depends on the panel’s decision on the hearing request and the plan the company submits. Until a decision is issued, trading will continue on Nasdaq Capital Market, according to the company’s disclosure.

Regarding its financial position, the interim chief executive said the Nasdaq notice does not affect the company’s current operations. The company estimated cash and short-term deposits at about $11.0 million as of September 30, 2026, based on preliminary unaudited information. It also said in a shareholder letter that consolidated operating losses for the nine months ended on that date were about $3.7 million, and that it raised about $10.5 million through an equity line of credit during the period; these figures were preliminary and unaudited. In its interim financial statements, the company recorded losses of $2.942 million in the first half of 2026, compared with $2.316 million in the same period of 2025. These figures provide context on liquidity and losses as the company seeks to address its listing status.

On development, the company expects LayerBio, its majority-owned subsidiary, to begin enrolling patients in a Phase 2 trial of OcuRing-K before the end of 2026. The timeline places the trial plan among the activities the company says it is continuing alongside its efforts to maintain its listing. PRF is also working to complete the proposed GridFeed transaction with Dotz. The transaction is subject to a non-binding term sheet, as well as the negotiation and execution of definitive agreements. The company previously reported that a proposed arrangement on November 3 involved Dotz marketing the DeepSolar/GridFeed platform and then acquiring it for $1.0 million, and PRF investing $250,000 in a Dotz offering; completion remains subject to definitive agreements and the parties’ approvals.