TCMP

China SXT Pharmaceuticals, Inc. Regained Compliance with Nasdaq’s Minimum Bid Price Rule

Retrieved on: 
Thursday, October 26, 2023

TAIZHOU, China, Oct. 26, 2023 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. ("SXTC" or the "Company"), (NASDAQ: SXTC), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces ("TCMPs"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements ("TCMHS"), today announced that on October 19, 2023, NASDAQ notified us that it has determined that for the 10 consecutive business days, from October 5, 2023 to October 13, 2023, the closing bid price of the Company’s ordinary shares has been at $1.00 per share or greater.

Key Points: 
  • TAIZHOU, China, Oct. 26, 2023 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. ("SXTC" or the "Company"), (NASDAQ: SXTC), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces ("TCMPs"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements ("TCMHS"), today announced that on October 19, 2023, NASDAQ notified us that it has determined that for the 10 consecutive business days, from October 5, 2023 to October 13, 2023, the closing bid price of the Company’s ordinary shares has been at $1.00 per share or greater.
  • Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and NASDAQ has closed this matter.

China SXT Pharmaceuticals Announces One-for-Twenty-five Reverse Stock Split

Retrieved on: 
Wednesday, October 4, 2023

The Company’s Board of Directors approved a reverse stock split so as to regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on the NASDAQ Stock Market.

Key Points: 
  • The Company’s Board of Directors approved a reverse stock split so as to regain compliance with the minimum bid price requirement of $1.00 per share for continued listing on the NASDAQ Stock Market.
  • Consequently, the reverse stock split will reduce the total number of outstanding ordinary shares of the Company from approximately 18.2 million shares to approximately 0.8 million shares.
  • All outstanding stock options, warrants and other rights to purchase the Company's ordinary shares will be adjusted proportionately as a result of the reverse stock split.
  • Once the reverse stock split becomes effective, shareholders holding shares through a bank, broker or other nominee will have their shares automatically adjusted to reflect the reverse stock split.

China SXT Pharmaceuticals, Inc. Receives 180-day Extension from Nasdaq to Meet Minimum Bid Price Rule

Retrieved on: 
Wednesday, May 10, 2023

TAIZHOU, China, May 10, 2023 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. ("SXTC" or the "Company"), (NASDAQ: SXTC), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces ("TCMPs"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements ("TCMHS"), today announced that on May 4, 2023, the Company received a written notification from the Nasdaq's Listing Qualifications Department, granting the Company another 180 calendar days extension, or until October 30, 2023, to regain compliance with Nasdaq’s minimum bid price requirement.

Key Points: 
  • TAIZHOU, China, May 10, 2023 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. ("SXTC" or the "Company"), (NASDAQ: SXTC), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces ("TCMPs"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements ("TCMHS"), today announced that on May 4, 2023, the Company received a written notification from the Nasdaq's Listing Qualifications Department, granting the Company another 180 calendar days extension, or until October 30, 2023, to regain compliance with Nasdaq’s minimum bid price requirement.
  • The Company can cure this deficiency if the closing bid price of its ordinary shares is $1.00 per share or higher for at least 10 consecutive business days during this second compliance period.
  • The Company intends to regain compliance with the minimum bid price requirement on or before October 30, 2023 and is considering all available options, including a reverse stock split if necessary.
  • During this time, the Company's ordinary shares will continue to be listed and traded on the Nasdaq Capital Market, and this notice will have no effect on the operations of the Company’s business.

China SXT Pharmaceuticals, Inc. Announces 1 for 20 Reverse Share Split

Retrieved on: 
Wednesday, May 18, 2022

In connection with the reverse share split, the Companys shareholders will receive one new ordinary share of the Company for every twenty shares they hold.

Key Points: 
  • In connection with the reverse share split, the Companys shareholders will receive one new ordinary share of the Company for every twenty shares they hold.
  • The Company, however, cannot assure that the price of its ordinary shares after the reverse split will reflect the 1 for 20 reverse split ratio, that the price per share following the effective time of the reverse split will be maintained for any period of time, or that the price will remain above the pre-split trading price.
  • The Company has filed the Amended and Restated Articles and Memorandum of Association in connection with the reverse share split.
  • Any fractional shares that would have resulted because of the Reverse Split will be rounded up to the nearest whole share.

China SXT Pharmaceuticals, Inc. Enters into Securities Purchase Agreement to Issue a 6% Convertible Promissory Note in the Original Principal Amount of $2.8 Million

Retrieved on: 
Tuesday, March 15, 2022

The closing of the offering is expected to occur on or about March 16, 2022, subject to customary closing conditions.

Key Points: 
  • The closing of the offering is expected to occur on or about March 16, 2022, subject to customary closing conditions.
  • 333-252664) previously filed with the U.S. Securities and Exchange Commission (the SEC) and declared effective by the SEC on February 10, 2021.
  • Copies of the securities purchase agreement and the convertible promissory note relating to this financing can be obtained at the SEC's website at www.sec.gov .
  • Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov.

China SXT Pharmaceuticals, Inc. Announces Successful Closing of $4.1 Million Follow-on Underwritten Offering of Ordinary Shares and Pre-Funded Warrants With Simultaneous Exercise of the Over-Allotment

Retrieved on: 
Thursday, January 20, 2022

The Offering equates to 22,777,774 of the Company's ordinary shares.

Key Points: 
  • The Offering equates to 22,777,774 of the Company's ordinary shares.
  • The Company intends to use the net proceeds from this Offering for general corporate purposes, including, but not limited to, working capital and other business opportunities.
  • Aegis Capital Corp. acted as the sole book-running manager for the Offering.
  • Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov.

China SXT Pharmaceuticals, Inc. Prices $3.5 Million Underwritten Public Offering of Ordinary Shares and Pre-Funded Warrants to Purchase Ordinary Shares

Retrieved on: 
Tuesday, January 18, 2022

The Offering equates to 19,806,760of the Company's ordinary shares at a price of $0.18 per share.

Key Points: 
  • The Offering equates to 19,806,760of the Company's ordinary shares at a price of $0.18 per share.
  • The pre-funded warrants are offered at the same price per share as the ordinary shares, less the $0.01 per share exercise price of each pre-funded warrant.
  • In addition, the Company granted the underwriters a 45-day option to purchase 2,971,014 additional ordinary shares at the public offering price to cover over-allotments, if any.
  • If this option is exercised in full, the gross proceeds of the over-allotment would be approximately $4.1 million before deducting underwriting discounts, commissions and other offering expenses.

China SXT Pharmaceuticals, Inc. Announces Proposed Underwritten Public Offering of Ordinary Shares and Pre-Funded Warrants to Purchase Ordinary Shares

Retrieved on: 
Friday, January 14, 2022

The pre-funded warrants shall be offered at the same price per share as the ordinary shares, less the $0.0001 per share exercise price of each pre-funded warrant.

Key Points: 
  • The pre-funded warrants shall be offered at the same price per share as the ordinary shares, less the $0.0001 per share exercise price of each pre-funded warrant.
  • The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
  • This offering is being made pursuant to an effective shelf registration statement on Form F-3 (No.
  • Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov.

China SXT Pharmaceuticals, Inc. Adds Newly Developed Kuihuapan and Zhudanfen Advanced TCMP Products, and Announces the Expected Continuous Growth of Its Production Capacity of Luxuejin

Retrieved on: 
Friday, January 14, 2022

The Kuihuapan products are produced according to the four processing specifications of Chinese Pharmacopoeia (2020 Edition) No.

Key Points: 
  • The Kuihuapan products are produced according to the four processing specifications of Chinese Pharmacopoeia (2020 Edition) No.
  • As of December 31, 2021, there are 12 batches of Luxuejin Directly-Oral TCMP products produced by lyophilizationprocess.
  • With the continuous increased market demand for Luxuejin, we will work to increase our production capacity and we believe the output value will grow rapidly.
  • "The developed R&D and production of Advanced TCMP products will greatly help us make continuous efforts in leading the R&D of Advanced TCMP and pursuing higher quality products.

China SXT Pharmaceuticals, Inc. Obtained a New Pharmaceutical Manufacturing Permit and Passed Its GMP Compliance-Inspection

Retrieved on: 
Monday, October 18, 2021

The Company also passed its pharmaceutical GMP compliance-inspection conducted by JSMPA for the Company's new lyophilization production facility.

Key Points: 
  • The Company also passed its pharmaceutical GMP compliance-inspection conducted by JSMPA for the Company's new lyophilization production facility.
  • The Company believed that it will be the first Directly-Oral TCMP manufacturer nationwide in China passing such a GMP compliance-inspection for lyophilization processing.
  • After the lyophilization process, the raw materials or products become loose and fragile, which remarkably improves their aqueous solubility.
  • The manufacture of our Directly-Oral TCMP product, Luxuejing, involves the lyophilization process, which helps us deliver much better quality products.