Check-Cap Faces Nasdaq Delisting Due to Share Price Drop
ByAinvest
Friday, Jan 3, 2025 10:07 am ET1min read
CHEK--
As per the letter, Check-Cap has a 180-day compliance period until June 30, 2025, to meet the requirement. Failure to do so may result in potential delisting from the Nasdaq exchange. This news comes after Nasdaq granted temporary relief from the bid price requirements due to the COVID-19 pandemic and related market conditions in April [1].
To regain compliance, Check-Cap must ensure that the closing bid price of its ordinary shares is at least $1 for a minimum of ten consecutive business days [1]. If successful, the company will be provided with a written confirmation of compliance, and this matter will be closed. Check-Cap may then be eligible for an additional 180-day grace period if it meets the Nasdaq Capital Market's initial listing standards with the exception of the minimum bid price requirement [1].
It is essential to note that this news does not have an immediate effect on Check-Cap's Nasdaq listing or the trading of its ordinary shares [1]. During the grace period, as may be extended, Check-Cap's ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol "CHEK" [1].
References:
[1] Check-Cap Announces Receipt of Nasdaq Minimum Bid Price Notification. (2020, June 5). Retrieved June 7, 2020, from https://www.nasdaq.com/press-release/check-cap-announces-receipt-of-nasdaq-minimum-bid-price-notification-2020-06-05
Check-Cap has received a letter from Nasdaq indicating non-compliance with the minimum bid price requirement, as its ordinary shares have fallen below $1. The company has a 180-day compliance period until June 30, 2025, to meet the requirement. Failure to do so may result in potential delisting from the Nasdaq exchange.
Check-Cap Ltd. (CHEK), a clinical-stage medical diagnostics company specializing in the development of C-Scan, a preparation-free ingestible capsule for colorectal cancer screening, has received a letter from Nasdaq indicating non-compliance with the minimum bid price requirement [1]. The company's ordinary shares have fallen below the $1 threshold, putting its continued listing on the Nasdaq exchange at risk.As per the letter, Check-Cap has a 180-day compliance period until June 30, 2025, to meet the requirement. Failure to do so may result in potential delisting from the Nasdaq exchange. This news comes after Nasdaq granted temporary relief from the bid price requirements due to the COVID-19 pandemic and related market conditions in April [1].
To regain compliance, Check-Cap must ensure that the closing bid price of its ordinary shares is at least $1 for a minimum of ten consecutive business days [1]. If successful, the company will be provided with a written confirmation of compliance, and this matter will be closed. Check-Cap may then be eligible for an additional 180-day grace period if it meets the Nasdaq Capital Market's initial listing standards with the exception of the minimum bid price requirement [1].
It is essential to note that this news does not have an immediate effect on Check-Cap's Nasdaq listing or the trading of its ordinary shares [1]. During the grace period, as may be extended, Check-Cap's ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol "CHEK" [1].
References:
[1] Check-Cap Announces Receipt of Nasdaq Minimum Bid Price Notification. (2020, June 5). Retrieved June 7, 2020, from https://www.nasdaq.com/press-release/check-cap-announces-receipt-of-nasdaq-minimum-bid-price-notification-2020-06-05
Stay ahead of the market.
Get curated U.S. market news, insights and key dates delivered to your inbox.
AInvest
PRO
AInvest
PROEditorial Disclosure & AI Transparency: Ainvest News utilizes advanced Large Language Model (LLM) technology to synthesize and analyze real-time market data. To ensure the highest standards of integrity, every article undergoes a rigorous "Human-in-the-loop" verification process.
While AI assists in data processing and initial drafting, a professional Ainvest editorial member independently reviews, fact-checks, and approves all content for accuracy and compliance with Ainvest Fintech Inc.’s editorial standards. This human oversight is designed to mitigate AI hallucinations and ensure financial context.
Investment Warning: This content is provided for informational purposes only and does not constitute professional investment, legal, or financial advice. Markets involve inherent risks. Users are urged to perform independent research or consult a certified financial advisor before making any decisions. Ainvest Fintech Inc. disclaims all liability for actions taken based on this information. Found an error?Report an Issue
Comments
No comments yet