Altamira Therapeutics Receives Letter From Nasdaq Qualifications Department That It Is No Longer In Compliance
Portfolio Pulse from Benzinga Newsdesk
Altamira Therapeutics Ltd. (NASDAQ:CYTO) received a letter from Nasdaq indicating non-compliance with the minimum bid price rule, as its stock has traded below $1.00 for 30 consecutive days. The company is not eligible for a cure period due to previous reverse stock splits and plans to appeal the decision.
October 04, 2024 | 8:05 pm
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Altamira Therapeutics is at risk of being delisted from Nasdaq for not meeting the $1.00 minimum bid price requirement. The company plans to appeal, but there's no guarantee of success.
The non-compliance with Nasdaq's minimum bid price rule and the lack of eligibility for a cure period due to past reverse stock splits are significant negative factors. The company's appeal introduces uncertainty, but the immediate risk of delisting is likely to pressure the stock price downward.
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