Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously reported on August 8, 2019, Novus Therapeutics, Inc. (the
"Company") received written notice (the "Notification Letter") from the Nasdaq
Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance
with the minimum bid price requirements set forth in Nasdaq Listing Rule
5550(a)(2) for continued listing on The Nasdaq Capital Market (the "Minimum Bid
Price Requirement"). Nasdaq Listing Rule 5550(a)(2) requires listed securities
maintain a minimum closing bid price of $1.00 per share, and Listing Rule
5810(c)(3)(A) provides that a failure to meet the minimum closing bid price
requirement exists if the deficiency continues for a period of 30 consecutive
business days. Based on the closing bid price of the Company's common stock for
the 30 consecutive business days prior to the date of the Notification Letter,
the Company did not currently meet the minimum closing bid price requirement.
On February 6, 2020, the Company received written notice that Nasdaq has
determined the Company is eligible for an additional 180-day extension (the
"Extension Letter"), or until August 3, 2020, to regain compliance with the
Minimum Bid Price Requirement. The Extension Letter does not impact the
Company's listing on The Nasdaq Capital Market at this time. To regain
compliance, the closing bid price of the Company's common stock must be at least
$1.00 per share for a minimum of 10 consecutive business days at any time prior
to August 3, 2020.
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NOVUS THERAPEUTICS, INC. 
