ADTX Stock Loses Nasdaq Listing After Seven Reverse Splits Fail To Restore Compliance: Why Is Retail Still Bullish?

• Aditxt shares are losing their Nasdaq listing after a panel rejected the company’s appeal over bid-price and stockholders’ equity failures.
• Trading in ADTX common stock is set to be suspended at Thursday’s open, though the company can request a Nasdaq review within 15 days.
• The panel was not persuaded by Aditxt’s proposed reverse split, noting that the company had already completed seven reverse splits.

Shares of Aditxt, Inc. (ADTX) are losing their Nasdaq listing after a hearings panel rejected the company’s attempt to stay on the exchange, citing repeated failures to meet minimum bid price and stockholders’ equity requirements.

ADTX stock crashed 77% on Wednesday and plunged another 19% in extended trading. Shares have shed nearly all of their value over the past year.

Nasdaq Pulls The Plug On ADTX

Trading in ADTX common stock is set to be suspended at the open on Thursday, marking a major setback for the biotech company even as some retail traders bet on a potential comeback in OTC trading. Aditxt first received a Nasdaq delisting notice in May after its listed securities closed below the exchange’s $1 minimum bid price requirement for 30 straight business days, from March 24 through May 5.

The company was not eligible for the usual 180-day compliance period as it had already carried out reverse stock splits over the past one and two years, including splits with a cumulative ratio of 250-to-1 or more. A second blow came later in May, when Nasdaq flagged Aditxt’s stockholders’ equity deficit of $35.17 million, far below the $2.5 million required for continued listing. The company also did not meet Nasdaq’s alternative standards based on market value or net income.

Aditxt tried to keep its listing alive by laying out a recovery plan at a June 11 hearing, including another proposed reverse stock split at a ratio between 1-for-5 and 1-for-250. The company said it was targeting a post-split price of about $5. Nasdaq was not persuaded.

The panel noted that Aditxt had already completed seven reverse stock splits, including a 1-for-113 split in November 2025, a 1-for-8 split in March and a 1-for-27 split last month. Even after these actions, the company failed to regain bid-price compliance. Nasdaq also noted that ADTX had closed below the $1 minimum bid price for about half of all trading days over the past two years. Aditxt may still request a review by Nasdaq’s Listing and Hearing Review Council within 15 days, though the company would have to pay a $15,000 review fee. 

Ignite Deal Couldn’t Save ADTX Listing 

Aditxt’s biggest defense was Ignite Proteomics, its revenue-generating unit. Earlier this month, Aditxt signed a definitive agreement for Ignite to combine with Copley Acquisition Corp. in a deal valuing Ignite at about $150 million. The company said that the deal could increase stockholders’ equity by about $125 million and help it regain compliance by Sept. 15. It also said that Ignite could become an independent public company expected to trade on the NYSE, while Aditxt would continue as a separate listed company.

But Nasdaq questioned the sharp valuation jump, the panel expressed skepticism over why Ignite, which Aditxt acquired in March for $35 million, had risen to a $150 million valuation within months. The panel also noted that, despite the clinical study cited by Aditxt and the Ignite deal, investors had not responded favorably to the company’s stock price. 

ADTX Bulls Bet On OTC Comeback 

Despite the delisting decision, some retail traders are still leaning bullish, focusing on the possibility that ADTX could trade actively on the OTC market and that shareholders’ positions would carry over.

On Stocktwits, retail sentiment for ADTX was ‘extremely bullish’ amid a 45,280% surge in message volumes over the past month. The ticker’s watcher base has also jumped 25% in the last three months. 

One user called the shift to “PINK SHEETS” bullish, saying: “Yes! Very bullish now!” Another pointed to Aditxt’s Nasdaq defense, saying that the company had claimed it could meet the $1 bid price and $2.5 million equity requirements by Sept.15.

A third trader said that OTC trading does not automatically mean the end of the story, writing: “The facts are just because it’s headed to the OTC isn’t the end of the world because your shares carry over.” The user cited the example of another company that traded OTC briefly and later returned to Nasdaq, saying: “The moral of the story there’s light at the end of the tunnel.”

Meanwhile, a separate user said: “I BOUGHT 50,000 SHARES RIGHT BEFORE CLOSING. THIS CAN GO UP HUGE IN OTC TOMORROW!”

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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