Virax Biolabs Announces Receipt If NASDAQ Notification Letter Regarding Minimum Bid Price Deficiency
Portfolio Pulse from Benzinga Newsdesk
Virax Biolabs Group Limited (VRAX) received a notice from Nasdaq on March 13, 2024, for not meeting the minimum bid price requirement of $1.00 per share for continued listing, as per NASDAQ Listing Rule 5550(a)(2). The rule stipulates that a deficiency exists if the minimum bid price is not met for 30 consecutive business days.
March 15, 2024 | 8:31 pm
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Virax Biolabs received a NASDAQ non-compliance notice for failing to meet the minimum bid price, risking delisting.
Receiving a notice for not meeting the NASDAQ minimum bid price requirement directly impacts VRAX's stock by increasing the risk of delisting. This can lead to negative investor sentiment and potentially lower stock prices in the short term as investors may see this as a sign of financial instability or lack of market confidence in the company.
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