Redhill Biopharma Announces The Transfer Of Its Listing To The Nasdaq Capital Market
Portfolio Pulse from Benzinga Newsdesk
RedHill Biopharma Ltd. (RDHL) has been approved to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market due to non-compliance with the minimum Market Value of Publicly Held Shares requirement. The transfer will occur on November 15, 2023, without affecting trading under the ticker RDHL. The company also faces a compliance issue with the minimum bid price requirement and has until March 18, 2024, to meet this standard or potentially receive an additional compliance period.
November 14, 2023 | 1:12 pm
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RedHill Biopharma's transfer to the Nasdaq Capital Market indicates regulatory compliance issues, specifically with MVPHS and minimum bid price requirements. The transfer will not interrupt trading but reflects challenges the company faces in maintaining its listing standards.
The transfer of RedHill Biopharma to the Nasdaq Capital Market is a result of not meeting the Nasdaq Global Market's listing requirements, which could be perceived negatively by investors as it reflects issues with the company's market value and stock price. This may lead to a decrease in investor confidence and potentially impact the stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100