Eyenovia Shares Surge After Regaining Nasdaq Compliance: What's Going On?

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Eyenovia regains Nasdaq compliance, boosting investor confidence after a reverse stock split helped meet listing requirements.
Shares surge 22.5%, driven by optimism around the company's restructuring efforts and continued development of its Optejet technology.
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Eyenovia, Inc. EYEN shares are trading higher Wednesday after the company announced it had regained compliance with Nasdaq listing requirements.

What To Know: The ophthalmic technology company confirmed that it now meets all Nasdaq Capital Market continued listing requirements, including the minimum bid price and low-priced stocks rules.

The company attributed this achievement to a recent reverse stock split, which helped boost its share price above the required threshold. CEO Michael Rowe emphasized that maintaining the Nasdaq listing, ongoing restructuring efforts and the development of the user-filled Optejet device, marks an important milestone for Eyenovia as it explores strategic alternatives to maximize shareholder value.

EYEN Price Action: Eyenovia shares were up 26.5% at $1.91 at the time of writing, according to Benzinga Pro.