Minerva Neurosciences Inc.

10/11/2024 | Press release | Distributed by Public on 10/11/2024 14:11

Failure to Satisfy Listing Rule Form 8 K

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously disclosed on a Current Report on Form 8-Kfiled with the Securities and Exchange Commission on April 12, 2024, on April 10, 2024, Minerva Neurosciences, Inc. (the "Company") received written notice from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for the last 31 consecutive business days, the Company's minimum Market Value of Listed Securities was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the "Rule"). The Company had until October 7, 2024 to regain compliance with the Rule.

On October 8, 2024 the Company received a second written notice from Nasdaq indicating that, based upon the Company's continued non-compliancewith the Rule, the staff of Nasdaq had determined to delist the Company's securities from The Nasdaq Capital Market unless the Company timely requests a hearing before a Nasdaq Hearings Panel (the "Panel"). As a result, the Company intends to timely request a hearing before the Panel. The hearing request will stay any suspension or delisting action pending the completion of the hearing and the expiration of any additional extension period granted by the Panel following the hearing. Under the Nasdaq Listing Rules, the Panel has the discretion to grant a further extension not to exceed April 5, 2025. Notwithstanding, there can be no assurance that the Panel will grant the Company a further extension or that the Company will ultimately regain compliance with all applicable requirements for continued listing on The Nasdaq Capital Market.

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