ASLAN Pharmaceuticals Receives Nasdaq Deficiency Notice Regarding Minimum Bid Price Requirement
Portfolio Pulse from Benzinga Newsdesk
ASLAN Pharmaceuticals has received a deficiency notice from Nasdaq due to its stock price not meeting the minimum bid price requirement. The company's shares have closed below the $1 minimum bid price for the last 30 consecutive business days. ASLAN must regain compliance by either maintaining a closing bid price of at least $1 for a minimum of 10 consecutive business days or by implementing a reverse stock split. The company has a compliance period of 180 calendar days to meet the requirement, which can be extended if they meet all other listing standards and provide a written notice of their intention to cure the deficiency.
January 08, 2024 | 11:46 am
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ASLAN Pharmaceuticals has been warned by Nasdaq for not meeting the minimum bid price, risking delisting if not addressed within 180 days. The company may consider a reverse stock split to comply.
Receiving a deficiency notice is a negative signal to the market, indicating that the company's stock is not performing well. This news can lead to a decrease in investor confidence and potentially result in a further decline in the stock price in the short term. The possibility of a reverse stock split may not be well-received by investors as it often is perceived as a move to artificially maintain compliance rather than a reflection of company growth or value.
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