BeyondSpring Receives Nasdaq Notice Regarding Minimum Bid Price Requirements
December 18 2023 - 4:30PM
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
December 14, 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 31
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 June 11, 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 June
11, 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 June 11, 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.
Investor
Contact:IR@beyondspringpharma.com
Media
Contact:PR@beyondspringpharma.com
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