Company notified due to stock trading below minimum bid requirement.
- Galmed Pharmaceuticals received a bid price notification from Nasdaq.
- The company's stock has been trading below the $1 minimum.
- This notification is part of Nasdaq's listing requirements.
Galmed Pharmaceuticals has announced that it was notified by Nasdaq regarding its stock trading below the required minimum bid price. The company is currently facing a challenge with its share price, which has dipped below $1, as stipulated by Nasdaq's listing standards. The notification serves as a warning that the company needs to address this issue to maintain its listing status.
In response to the notification, Galmed has a period of 180 calendar days to regain compliance by raising its stock price above the minimum threshold. They can do so by various means, including reverse stock splits or other corporate actions. This situation is critical for Galmed, as maintaining its Nasdaq listing is essential for investor confidence and market access.
The company's ability to comply with Nasdaq's minimum bid price requirement will be closely monitored. Failure to meet the criteria within the given timeframe may lead to potential delisting, affecting its operations and investor relations. It is crucial for Galmed Pharmaceuticals to navigate this challenge effectively to secure its market position.
