10 Stocks Fall Behind Amid Market Optimism

3. ZyVersa Therapeutics, Inc. (NASDAQ:ZVSA)

ZyVersa Therapeutics dropped its share prices by 18.90 percent on Wednesday to finish at $1.03 apiece, following a surge in its stock price the prior day.

The latest stock price was just 3-cents shy anew of the $1 minimum bid price requirement of the Nasdaq, having surged to $1.27 on Tuesday from $0.5820 last Monday.

Tuesday’s return to the $1 level snapped 24 consecutive days of trading below the minimum bid price requirement. Under the Nasdaq rules, companies are required to stay afloat at the $1 minimum bid price in order to stay listed.

In recent news, ZVSA said it narrowed its net loss last year by 90 percent to $9.4 million from $98.3 million in 2023, on the back of the absence of impairment charges that were recorded in 2023.

The company said it continues to focus on the development of its drug candidates, VAR 200, aimed at treating renal diseases, and IC 100, for the treatment of inflammatory conditions.

Both candidates are in various stages of preclinical and clinical development.