Pasithea Therapeutics Receives Nasdaq Notice of Minimum Bid Non-Compliance

What Happened

• Pasithea Therapeutics Corp. (KTTA) filed an 8‑K on August 21, 2026, reporting that Nasdaq notified the company it was not in compliance with the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) based on the closing bid price for the prior 30 consecutive business days.
• The company originally received the Nasdaq notice on February 20, 2026 and was given a 180‑day compliance period through August 19, 2026. On August 20, 2026 Nasdaq granted a further 180‑day extension, moving the deadline to February 16, 2027.
• The company said it will monitor the closing bid price and may consider available options, including a reverse stock split, to regain compliance.

Key Details

• Nasdaq initial non‑compliance notice received: February 20, 2026.
• Original compliance deadline: August 19, 2026; new extended deadline: February 16, 2027 (180‑day extension).
• Rule referenced: Nasdaq Listing Rule 5550(a)(2) (minimum $1.00 bid requirement).
• Possible remedial action noted by company: implementing a reverse stock split of outstanding securities.

Why It Matters

• If KTTA does not regain a $1.00+ closing bid by February 16, 2027, Nasdaq will notify the company that its common stock is subject to delisting; the company would have the right to appeal to a Nasdaq hearings panel.
• Delisting or prolonged non‑compliance can reduce liquidity, limit institutional ownership, and make trading or raising capital more difficult for retail investors. The company’s mention of a reverse stock split signals a commonly used, but shareholder‑affecting, option to meet the listing standard.