Scage Future receives Nasdaq notification regarding minimum bid price deficiency

Scage Future (NASDAQ: SCAGE) has received a deficiency notice from Nasdaq, indicating that the company’s American depositary shares (ADSs) have failed to maintain the required minimum bid price of $1.00 per share for the past 30 consecutive business days. The notice, dated June 11, 2026, does not immediately affect the company’s listing on the Nasdaq Capital Market but places it on a compliance timeline.

Under Nasdaq Listing Rule 5550(a)(2), Scage Future has until December 8, 2026, to regain compliance. To achieve this, the company’s ADSs must close at a bid price of at least $1.00 for a minimum of 10 consecutive business days. Additionally, the shares must not close at $0.10 or less for more than 10 consecutive trading days by the compliance deadline. If the company fails to meet these requirements, it may be eligible for additional time or could face delisting. In such a scenario, Scage Future would have the right to appeal to Nasdaq Listing Panel.

The company has stated that it intends to monitor the closing bid price of its ADSs and may consider available options to regain compliance, including a possible reverse stock split. However, recent proposals by Nasdaq to restrict excessive reverse stock splits could impact the company’s ability to use this strategy. Under the proposed rules, if a company has executed a reverse stock split within the prior one-year period, it would not be eligible for the automatic 180-day compliance period and would face immediate delisting.

In a separate development, Scage Future reported that independent director Mr. Calvin Kung resigned on April 8, 2026, citing unresolved disagreements related to the company’s operations. The company has not yet appointed a successor to fill the vacancy on its board.

The information in this article is based on a statement from a press release filed with the Securities and Exchange Commission. Investors and stakeholders are advised to monitor the company’s progress toward compliance and any developments in the regulatory landscape that may affect its listing status.