Cidara Therapeutics Announces Receipt Of Nasdaq Delinquency Notice
Portfolio Pulse from Benzinga Newsdesk
Cidara Therapeutics, Inc. (CDTX) received a Nasdaq delinquency notice for not filing its Annual Report on time, risking delisting. The company plans to submit a compliance plan and announced a 1-for-20 reverse stock split effective April 24, 2024, to meet Nasdaq's $1.00 bid price requirement by May 7, 2024.

April 22, 2024 | 9:08 pm
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Cidara Therapeutics received a Nasdaq delinquency notice and announced a 1-for-20 reverse stock split to meet bid price requirements.
The receipt of a Nasdaq delinquency notice is a significant regulatory event that could impact investor confidence and the company's stock price. However, the announcement of a reverse stock split to meet Nasdaq's bid price requirement may mitigate some negative impacts by demonstrating the company's proactive measures to maintain its listing. The short-term impact on the stock price could be neutral as negative sentiment from the delinquency notice may be offset by positive reactions to the company's compliance efforts.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100