Evaxion Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
Portfolio Pulse from Benzinga Newsdesk
Evaxion Biotech (NASDAQ:EVAX) has received a notification from Nasdaq regarding a minimum bid price deficiency. The company's American Depositary Shares (ADSs) have closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq Global Market for the last thirty consecutive business days. Evaxion has until March 27, 2024, to regain compliance. The company plans to monitor the bid price of its ADSs and evaluate options to regain compliance, including a potential reverse share split.
October 05, 2023 | 12:37 pm
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Evaxion Biotech's stock price may be negatively impacted in the short term due to the Nasdaq notification regarding minimum bid price deficiency. The company's potential actions to regain compliance, such as a reverse share split, could also affect the stock price.
The Nasdaq notification indicates that Evaxion's stock price has been consistently below the minimum requirement, which could lead to delisting if not corrected. This news could negatively impact investor sentiment and put downward pressure on the stock price. Additionally, measures to regain compliance, such as a reverse share split, could also affect the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100