XTLB · XTL Biopharmaceuticals Ltd.

XTL Biopharmaceuticals Ltd. faced a critical delisting risk after Nasdaq's Listing Qualifications Department classified it as a 'public shell' under Rule 5101, as initially notified on February 27, 2026. The Company appealed via a hearing on April 16, 2026, presenting its compliance plan centered on the Psyga Bio Ltd. acquisition. The Panel's May 4, 2026 Decision Letter approved continued Nasdaq listing until June 30, 2026, explicitly tying the exception to successful Psyga Transaction closure and full compliance with listing standards. This acquisition, announced April 29, 2026, involves purchasing all issued and outstanding shares of Psyga on a fully diluted basis, supported by up to US$1,500,000 in private placement funding upon closing. The Panel highlighted this transaction and funding as pivotal to granting the exception. Additionally, the Company resolved its prior Rule 5550(a)(2) bid price deficiency through a March 25, 2026 reverse stock split via ADS ratio change, maintaining prices above $1. During the extension, XTL must report significant events impacting compliance and submit documents for Panel review, which retains discretion to revoke the exception. Failure to close Psyga by the deadline or meet other requirements risks immediate delisting, underscoring the high stakes for investors regarding the Company's Nasdaq status and strategic pivot via the acquisition.