Tonix Pharmaceuticals Holding Corp. (TNXP) has not been delisted due to a low share price. As of the latest information, TNXP is listed on the Nasdaq Capital Market and has taken measures to address the minimum bid price requirement, which could have prevented delisting. The company has undergone a reverse stock split to increase the per-share trading price of its common stock and satisfy the NASDAQ Capital Market's minimum bid price requirement of $1.0012.
- Reverse Stock Split: Tonix has implemented a reverse stock split, which is a common strategy to increase the share price and comply with listing requirements12.
- Satisfying Listing Requirements: By increasing the share price through a reverse stock split, Tonix has satisfied the NASDAQ Capital Market's minimum bid price requirement of $1.00, which prevented delisting13.
- Ongoing Development and Pipeline: Tonix continues to focus on its development pipeline, including the submission of a New Drug Application for TNX-102 SL in fibromyalgia, which could bolster its market position and share price56.
In conclusion, Tonix Pharmaceuticals Holding Corp. has not been delisted due to a low share price, but rather through measures to address the issue and comply with listing requirements.
11/4/2024 08:06am
