Sintx Technologies, Inc. (NASDAQ: SINT) has witnessed a notable rise in its stock value on the US charts following its achievement of compliance with the NASDAQ listing requirements. As of the last check during current-market session, SINT stock was up 9.57% to $5.04.
Stock Market Resurgence
After receiving confirmation from The Nasdaq on June 11, 2024, Sintx Technologies made a public announcement stating that it has complied with the $1.00 minimum bid price threshold required to remain listed on The Nasdaq Capital Market. As a result, the previously pending listing issue has been resolved.
Nevertheless, Sintx Technologies will remain under a “Mandatory Panel Monitor” for one year from the date of compliance. Should the company fail to maintain a minimum $1.00 closing bid price for 30 consecutive business days within this period, Nasdaq will initiate delisting procedures without granting an additional grace period to regain compliance. In such a scenario, Sintx Technologies retains the right to request a new hearing to address the deficiency.
Strategic Contract Acquisition
In a significant development, Sintx Technologies’ wholly-owned subsidiary, Technology Assessment and Transfer, Inc. (TA&T), has secured a three-month, $75,000 Phase I Small Business Innovation Research (SBIR) contract from AFWERX. This contract, focusing on the Enhanced Sinterability of Complex-Shaped 3D Printed Silicon Nitride (Si3N4), aims to overcome material challenges in propulsion and guidance technologies for next-generation high-temperature Department of the Air Force systems.
Through this partnership, TA&T aims to enhance its innovative capabilities to bolster United States defense. Success in this initial phase may pave the way for TA&T/Sintx Technologies to secure a Phase II AFWERX contract valued at up to $1.25 million over 21 months.
Pioneering 3D Printing In Silicon Nitride
Sintx Technologies is addressing a critical gap in the industry: while there is considerable activity in 3D printing complex shapes of silicon nitride, there remains a lack of demonstrated production of silicon nitride parts that meet specific performance and repeatability standards. Leveraging its extensive experience with the silicon nitride material family and TA&T’s expertise in ceramic 3D printing, Sintx Technologies is uniquely positioned to lead advancements in this field.
