MyMD Pharmaceuticals Regains Compliance With Nasdaq Minimum Bid Price Requirement For Continued Listing
Portfolio Pulse from Benzinga Newsdesk
MyMD Pharmaceuticals, Inc. (NASDAQ:MYMD) has regained compliance with Nasdaq's minimum bid price requirement for continued listing on the Nasdaq Capital Market. This follows a 1-for-30 reverse stock split conducted on February 14, 2024, aimed at increasing the stock's trading price. The company's stock met the required minimum closing bid price of $1.00 or more for 10 consecutive business days, achieving compliance on March 1, 2024.
March 05, 2024 | 2:21 pm
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MyMD Pharmaceuticals has successfully regained compliance with Nasdaq's minimum bid price requirement, avoiding potential delisting.
Regaining compliance with Nasdaq's minimum bid price requirement is crucial for maintaining the company's listing and can positively impact investor confidence and the stock's market perception. The successful 1-for-30 reverse stock split has effectively increased the stock's trading price, meeting Nasdaq's conditions.
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IMPORTANCE 90
RELEVANCE 100