Met Primary Endpoint, Nearly Doubling Svr35 Response Rate That It Is Not In Compliance With The Minimum Bid Price Requirement Set Forth In The Nasdaq Capital Market's Rules For Continued Listing
Portfolio Pulse from Benzinga Newsdesk
Kazia Therapeutics Limited (KZIA) received a deficiency notification from Nasdaq for not meeting the minimum bid price requirement. The company's stock price fell below $1.00 for 30 consecutive days. Kazia has until May 20, 2024, to regain compliance by maintaining a bid price of $1.00 or more for 10 consecutive days. The company's securities will continue to trade normally on Nasdaq during this period, and Kazia is looking to resolve the issue to avoid delisting.
November 20, 2023 | 9:37 pm
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Kazia Therapeutics received a Nasdaq deficiency notice for not meeting the minimum bid price. The company has 180 days to comply and avoid delisting.
The deficiency notice from Nasdaq is a negative signal to investors, indicating that KZIA's stock price has been underperforming. This could lead to a decrease in investor confidence and potentially a further decline in stock price in the short term. However, the company has time to regain compliance, which may mitigate the impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100