**Virios Therapeutics Receives Notification from Nasdaq Regarding Stockholder Equity**

On November 15, 2024, Virios Therapeutics (NASDAQ: VIRI) received a letter from the Nasdaq Listing Qualifications Staff notifying the company that its stockholders’ equity has fallen below the required minimum for continued listing set forth in Nasdaq Listing Rule 5550(b)(1).

The determination by Nasdaq was based on Virios Therapeutics’ stockholders’ equity as reported in the company’s Quarterly Report on Form 10-Q for the period ended September 30, 2024, which was before the completion of the company’s acquisition of Pharmagesic (Holdings) Inc. on October 7, 2024. Nasdaq also noted that the company does not meet the alternatives of market value of listed securities or net income from continuing operations, leading to non-compliance with Nasdaq’s Listing Rules.

At present, this letter has no immediate impact on the listing of Virios Therapeutics’ common stock on the Nasdaq Capital Market, and the company’s listing remains fully effective. Per Nasdaq rules, Virios Therapeutics has until December 30, 2024, to submit a plan to Nasdaq outlining steps to achieve and sustain compliance. If accepted, Nasdaq may grant an extension of up to 180 calendar days to demonstrate compliance. In the event that Nasdaq does not accept the company’s plan, Virios Therapeutics can appeal the decision to a Nasdaq Hearings Panel.

Virios Therapeutics intends to provide Nasdaq with a compliance plan within the stipulated period. The company expressed confidence that its forthcoming plan will restore compliance with the Nasdaq Listing Rules, although it acknowledges that there are uncertainties about Nasdaq’s acceptance of the plan and the company’s ability to maintain compliance with listing rules in the future.

By filing this Form 8-K, Virios Therapeutics discloses its receipt of the notification from Nasdaq in accordance with Listing Rule 5810(b). The company advises caution in relation to forward-looking statements, highlighting the substantial risks and uncertainties involved.

In other news, Acerinox, a global leader in stainless steel and high-performance alloys, announced the completion of its acquisition of Haynes International. This strategic move further strengthens Acerinox’s position in high-performance alloys and the U.S. market, particularly in the aerospace sector. The transaction with Haynes is expected to enhance Acerinox’s product range and operational capabilities, fostering growth opportunities in key areas.

This acquisition aligns with Acerinox’s objectives and signifies a significant investment in the U.S. business, demonstrating a commitment to long-term growth and development. Additional details about the transaction were previously announced in February, showcasing the anticipated annual synergies and expected financial performance improvements resulting from the acquisition.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Virios Therapeutics’s 8K filing here.

About Virios Therapeutics

Virios Therapeutics, Inc, a development-stage biotechnology company, focuses on developing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response. The company's lead development candidate is the IMC-1, a fixed dose combination of famciclovir and celecoxib to treat fibromyalgia.