# EDGAR Filing Document

**Accession Number:** 0001354457
**File Stem:** 0001354457-25-001163
**Filing Date:** 2025-11
**Character Count:** 7193
**Document Hash:** db0053f10e7fe75335d74072a04c11b5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001354457-25-001163.hdr.sgml**: 20251120

**ACCESSION NUMBER**: 0001354457-25-001163

**CONFORMED SUBMISSION TYPE**: 25-NSE

**CONFIRMING COPY**: 

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251120

**DATE AS OF CHANGE**: 20251120

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Petros Pharmaceuticals, Inc.
- **CENTRAL INDEX KEY:** 0001815903
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 851410058
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 25-NSE
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39752

**BUSINESS ADDRESS:**
- **STREET 1:** 1185 AVENUE OF THE AMERICAS, 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 973-242-0005

**MAIL ADDRESS:**
- **STREET 1:** 1185 AVENUE OF THE AMERICAS, 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nasdaq Stock Market LLC
- **CENTRAL INDEX KEY:** 0001354457

**ORGANIZATION NAME:**
- **EIN:** 521165937
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 25-NSE

**BUSINESS ADDRESS:**
- **STREET 1:** One Liberty Plaza
- **CITY:** New York
- **STATE:** NY
- **ZIP:** 10006
- **BUSINESS PHONE:** 301-978-4144

**MAIL ADDRESS:**
- **STREET 1:** Office of General Counsel
- **STREET 2:** 805 King Farm Blvd.
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** The Nasdaq Stock Market LLC
- **DATE OF NAME CHANGE:** 20060224

## Exhibit 99.25

```

Delisting Determination, The Nasdaq Stock Market, LLC, November 7, 2025,
Petros Pharmaceuticals, Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the common stock of Petros Pharmaceuticals, Inc. effective at the
opening of the trading session on December 1, 2025. Based on review
of information provided by the Company, Nasdaq Staff
determined that the Company no longer qualified for listing on the
Exchange pursuant to Listing Rule 5550(a)(2).The Company was
notified of the Staff determination on March 26, 2025.
On March 31, 2025 the Company exercised its right to appeal
the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Listing Rule 5815.
Additionally, Nasdaq Staff determined that the Company no longer
qualified for listing on the Exchange pursuant to
Listing Rule 5550(b)(1).The Company was
notified of the Staff determination on April 8, 2025.
Additionally, Nasdaq Staff determined that the Company no longer
qualified for listing on the Exchange pursuant to
Listing Rule 5100.The Company was
notified of the Staff determination on April 28, 2025.
On May 6, 2025, the hearing was held.
On May 19, 2025 the Panel reached a
decision and a Decision letter was issued on May 20, 2025.
The Company common stock was suspended on May 22, 2025.
The Company filed an appeal with the Nasdaq Listing and Hearing
Review Council (NLHRC) on June 4, 2025. The NLHRC issued its
decision Brief on August 26, 2025 and stated the Company argument
that Nasdaq abdicated its regulatory responsibility by no longer
reviewing LAS transactions as a matter of course before allowing listed
companies to undertake them.
This argument was specious for numerous reasons.
In fact, the Listing Rules do still provide for Staff to conduct such reviews,
but only upon request rather as a matter of right.
The Company understood that this opportunity for review was available
to it and, in fact, it availed itself of the opportunity.
However, the Company chose not to seek formal written guidance from Nasdaq
Staff but instead, it sought only informal, anonymous guidance.
The fact that the Company made a poor choice as to the type of review
it wanted is the fault of the Company, not Nasdaq or its Listing Rules.
This matter was not called for review by the Nasdaq Stock Market
Board of Directors regarding the Decision brief
issued by the NLHRC dated October 2, 2025.
Staff determination to delist the Company common stock
remained final as of August 27, 2025.

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 25

### NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

**Commission File Number:** 001-39752

|  |  |
|:---|:---|
| Issuer:                                                                                                             | Petros Pharmaceuticals, Inc.                                                 |
| Exchange:                                                                                                           | Nasdaq Stock Market LLC                                                      |
| (Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered) |  |
| Address:                                                                                                            | 5301 Wisconsin Avenue NW, Suite 570, Washington, DISTRICT OF COLUMBIA, 20015 |
| Telephone number:                                                                                                   | 732-770-2468                                                                 |
| (Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)   |  |
| (Description of class of securities)                                                                                | Common Stock                                                                 |

---

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

- [ ] 17 CFR 240.12d2-2(a)(1)
- [ ] 17 CFR 240.12d2-2(a)(2)
- [ ] 17 CFR 240.12d2-2(a)(3)
- [ ] 17 CFR 240.12d2-2(a)(4)
- [x] Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange.
- [ ] Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

---

Pursuant to the requirements of the Securities Exchange Act of 1934, Nasdaq Stock Market
LLC certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing the Form 25 and has caused this notification to be signed on its
behalf by the undersigned duly authorized person.

| Date       | By   | Name          | Title            |
|:---|:---|:---|:---|
| 2025-11-20 |  | Aravind Menon | Hearings Advisor |

Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR
240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.