Scworx Corp

SCWorx Corp. has received a partial compliance letter from the Nasdaq Hearings Panel confirming completion of the first benchmark in its plan to regain compliance for continued listing on the Nasdaq Capital Market. The company must still demonstrate a closing bid price of at least $1.00 per share for a minimum of twenty consecutive trading days under Nasdaq Listing Rule 5815(c)(4). SCWorx is also required to immediately notify Nasdaq of any material changes to its compliance plan or any event that could affect its ability to satisfy the exception. The Panel reserved the right to reconsider the terms if developments make continued listing inadvisable or unwarranted. President and CEO Tim Hannibal stated that maintaining the Nasdaq listing remains a strategic priority as the company focuses on expanding customer relationships and advancing its healthcare supply chain data management platform.

SCWorx has secured a new agreement with a prominent not-for-profit teaching hospital in Florida to provide data management and normalization services supporting the hospital's Workday implementation. Under the agreement, SCWorx will use its proprietary healthcare data management platform to cleanse, standardize, enrich, and optimize the hospital's item master and related supply chain data assets before migration into the Workday enterprise platform. The hospital selected SCWorx based on the company's extensive experience in improving supply chain data quality for healthcare providers. Financial terms of the agreement were not disclosed.