Psyence Biomedical Ltd. Receives Nasdaq Notifications Regarding Market Value Of Listed Securities And Market Value Of Publicly Held Shares
Portfolio Pulse from Benzinga Newsdesk
Psyence Biomedical Ltd. (PBM) received two notifications from Nasdaq on March 11, 2024, regarding non-compliance with the minimum market value requirements for continued listing. The company's Market Value of Listed Securities (MVLS) and Market Value of Publicly Held Shares (MVPHS) were below the required thresholds. Psyence has until September 9, 2024, to regain compliance by ensuring its MVLS and MVPHS meet the minimum values for ten consecutive business days. The company is exploring options to regain compliance, but there's no guarantee of success.
March 15, 2024 | 8:33 pm
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Psyence Biomedical Ltd. received notifications from Nasdaq for not meeting the minimum market value requirements, with a deadline until September 9, 2024, to regain compliance.
Receiving notifications from Nasdaq about potential non-compliance with listing requirements typically has a negative impact on investor confidence and can lead to a decrease in stock price in the short term. The uncertainty around Psyence Biomedical's ability to regain compliance adds to the risk, potentially affecting its stock price negatively.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100