BeyondSpring Receives Nasdaq Notice Regarding Minimum Bid Price Requirements
October 04 2023 - 3:55PM
BeyondSpring Inc. (NASDAQ: BYSI) (“BeyondSpring” or the “Company”),
a global clinical-stage biopharmaceutical company focused on using
a groundbreaking technology platform for drug discovery and
developing innovative therapies to improve clinical outcomes for
patients with high unmet medical needs, today announced that on
September 28, 2023, it received a written notification from The
Nasdaq Stock Market LLC (“Nasdaq”) that the Company is not in
compliance with the requirement to maintain a minimum closing bid
price of $1.00 per share, as set forth in Nasdaq Listing Rule
5550(a)(2), because the closing bid price of the Company’s ordinary
shares (the “Ordinary Shares”) was below $1.00 per share for 30
consecutive business days. The notification letter does not result
in the immediate delisting of the Company’s Ordinary Shares and has
no current immediate effect on the listing or trading of the
Company’s Ordinary Shares on Nasdaq.
Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company
is provided with a compliance period of 180 calendar days from the
date of the notification letter, or until March 26, 2024, to regain
compliance with the minimum bid price requirement. During this
period, the Company’s Ordinary Shares will continue to trade on
Nasdaq. If at any time before March 26, 2024, the bid price of the
Company’s Ordinary Shares closes at or above $1.00 per share for a
minimum of ten consecutive trading days, Nasdaq will provide
written confirmation of compliance and this matter will be closed.
In the event the Company does not regain compliance by March 26,
2024, subject to the determination by the staff of Nasdaq, the
Company may be eligible for an additional 180-day compliance
period.
The notification letter does not affect the Company’s business
operations, and the Company is considering all available options to
regain compliance with the listing rules within the prescribed
grace period.
About BeyondSpringBeyondSpring
(NASDAQ: BYSI) is a global clinical-stage biopharmaceutical company
focused on developing innovative therapies to improve clinical
outcomes for patients with high unmet medical needs. The Company is
advancing its first-in-class lead asset, Plinabulin, as a direct
anti-cancer agent in various cancer indications and to prevent
chemotherapy-induced neutropenia. Its pipeline also includes three
preclinical immuno-oncology assets. Additionally, BeyondSpring’s
subsidiary, SEED Therapeutics, leverages a proprietary targeted
protein degradation (TPD) drug discovery platform and has an
initial R&D collaboration with Eli Lilly. Learn more by
visiting https://beyondspringpharma.com, and follow us
on LinkedIn and Twitter.
Investor
Contact:IR@beyondspringpharma.com
Media
Contact:PR@beyondspringpharma.com
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