Galmed Pharmaceuticals Announces Receipt Of Nasdaq Minimum Bid Price Notification
Portfolio Pulse from Benzinga Newsdesk
Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) has received a letter from Nasdaq Listing Qualifications indicating that the company is not in compliance with the minimum bid price requirement for continued listing. The company has until March 18, 2024, to regain compliance by maintaining a minimum bid price of $1.00 per share for at least ten consecutive business days. If the company fails to regain compliance, its shares may be delisted from Nasdaq.
September 22, 2023 | 8:07 pm
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Galmed Pharmaceuticals is at risk of being delisted from Nasdaq if it fails to meet the minimum bid price requirement by March 18, 2024.
The news directly impacts Galmed Pharmaceuticals as it has received a warning from Nasdaq about its non-compliance with the minimum bid price requirement. If the company fails to regain compliance by maintaining a minimum bid price of $1.00 per share for at least ten consecutive business days by March 18, 2024, its shares may be delisted from Nasdaq. This could negatively impact the company's stock price in the short term.
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