Hepion Pharma Stock Draws Bullish Retail Bets Despite Nasdaq Delisting Notice: 'Could Get Interesting'

Shares of Hepion Pharmaceuticals Inc. drew heightened attention from retail traders on Monday after the company disclosed that the Nasdaq Hearings Panel had ordered its delisting, citing violations of continued listing requirements. 

Trading in the company's common stock is set to be suspended at the open on Tuesday, with shares expected to move to the OTC Markets under the same ticker, HEPA.

Hepion Pharmaceuticals shares closed down 18.8% at $0.32 on Monday, sliding 45% to $0.17 in after-hours trading.

Retail sentiment on Stocktwits turned 'bullish' on Monday amid a 5,100% surge in 24-hour message volume.

One user highlighted optimism around Hepion's core asset, Rencofilstat, describing it as a potentially "revolutionary" drug class. 

Rencofilstat is a cyclophilin inhibitor aimed at treating chronic liver diseases like NASH and hepatocellular carcinoma (HCC).

The user suggested that although trial results may not be released soon, the drug could eventually displace existing therapies once they have been fully monetized. 

They added that the move to OTC "could get interesting."

Another user hoped the stock would be tradable on Robinhood after moving to the OTC market, suggesting the transition could trigger a strong upward move.

The delisting followed Nasdaq's determination that Hepion had failed to maintain the minimum bid price of $1.00 and was in breach of Rule 5101, which allows delisting of companies identified as public shells.

Hepion recently entered a license agreement with New Day Diagnostics LLC to distribute tests for celiac disease, respiratory multiplex (COVID-19, Influenza A/B, RSV), H. pylori, and hepatocellular carcinoma (HCC). 

These tests carry CE marks, making them eligible for sale in Europe.

The company had previously paused and then wound down its ASCEND-NASH Phase 2b trial for Rencofilstat, after enrolling 151 patients out of a planned 336. 

Approximately 80 patients completed a full year of treatment.

The stock has declined 98.7% so far in 2025.

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