Biophytis Announces Receipt Of Nasdaq Notice The Company No Longer Satisfies Nasdaq Listing Rule 5550(a)(2)
Portfolio Pulse from Benzinga Newsdesk
Biophytis SA received a Nasdaq notice for non-compliance with the minimum bid price rule due to its ADSs closing below $1.00 for 30 consecutive days. The company remains listed on The Nasdaq Global Select Market under the symbol 'BPTS' and has a 180-day grace period until May 13, 2024, to regain compliance. Biophytis is considering options to address the deficiency and may be eligible for an additional 180-day period if other listing standards are met.
November 19, 2023 | 8:35 pm
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NEGATIVE IMPACT
Biophytis SA has been notified by Nasdaq of non-compliance due to its ADSs trading below $1.00. The company has until May 13, 2024, to regain compliance and is considering options to address the issue.
The notification of non-compliance is a negative signal to the market, indicating that the company's stock price is under pressure and not meeting Nasdaq's minimum requirements. This could lead to a decrease in investor confidence and a potential decline in the stock price in the short term. However, the company's ability to regain compliance within the grace period could mitigate the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100