Apollomics Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency
Portfolio Pulse from Benzinga Newsdesk
Apollomics Inc. has received a notification from Nasdaq regarding a deficiency in meeting the minimum bid price requirement. The company's stock has been trading below the $1 minimum bid price for the last 30 consecutive business days. Apollomics is required to regain compliance within 180 calendar days, or by September 12, 2023. If at any time before this deadline, the bid price of Apollomics' common stock closes at $1 or higher for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance. Failure to meet the requirement may lead to delisting. The company intends to monitor the bid price and consider available options to resolve the deficiency.
January 19, 2024 | 9:16 pm
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Apollomics Inc. has been notified by Nasdaq of non-compliance with the minimum bid price rule. The company's stock must reach $1 or more for 10 consecutive days before September 12, 2023, to avoid potential delisting.
The notification from Nasdaq is a negative signal for investor confidence and could put downward pressure on Apollomics' stock price in the short term. The risk of delisting can lead to increased selling as investors may be concerned about the company's ability to maintain its listing standards. However, there is a possibility for recovery if the company takes corrective measures to increase its stock price.
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IMPORTANCE 90
RELEVANCE 100