Dec. 11 at 11:33 AM
$LYRA They wrote to NASDAQ saying that they will be compliant with equity rule by 31st December 2025. They would have got extension until mid Feb 2026, but they didn't request it.
Why wouldn't they request the extra 2.5 months extension? Possible explanations IMO:
1. Deep in discussions with new PIPE investors for
$50M+ to fund new trial and NDA submission.
2. On the verge of restructuring/sub-letting their properties which would remove the
$27M operating lease liability.
3. Both of the above
Even if they miss the deadline, they can write to Nasdaq and request another extension to get one of the above done (given they didn't request the full allotted time originally). Nasdaq approved the initial extension based on 1 of the above scenarios so it won't be an issue to entend again, so long as company can prove progression.
Perceptive selling out for tax loss purposes has provided an incredible entry point as any scenario above is positive for the stock.
