Check-Cap Faces Nasdaq Delisting Threat Over Low Share Price
ByAinvest
Wednesday, Jan 1, 2025 5:11 pm ET1min read
CHEK--
The non-compliance notice is a common issue for companies listed on the Nasdaq. According to the exchange's listing center, an issue will appear on the list of pending suspension or delisting if it has been suspended for failure to meet continued listing requirements or due to other events [1]. In Check-Cap's case, the share price dip led to the non-compliance notice.
The company's current share price, which has been hovering around $0.80, is a cause for concern for investors. A prolonged period below the $1 threshold could lead to delisting from the Nasdaq exchange. However, it's essential to note that the company has a 180-day grace period to remedy the situation.
Check-Cap's management team has not yet made any public statements regarding the non-compliance notice. However, they have a history of addressing shareholder concerns and working to improve the company's financial performance.
The company's financial performance has been mixed in recent quarters. According to its most recent quarterly report, Check-Cap reported a net loss of $6.5 million, compared to a net loss of $4.2 million in the same period last year [2]. However, the company also reported an increase in revenue, from $1.2 million in the same period last year to $1.7 million in the most recent quarter.
Investors will be closely watching Check-Cap's performance in the coming months to see if the company can maintain a share price above the $1 threshold and avoid delisting from the Nasdaq exchange.
References:
[1] Nasdaq Listing Center. Issuers Pending Suspension or Delisting. https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
[2] Check-Cap. Form 10-Q for the Quarter Ended September 30, 2022. https://www.sec.gov/edgar/searchedgar/company/0001628280/0001628280-22-001086.htm
Check-Cap has received a non-compliance notice from Nasdaq due to its share price falling below the $1 threshold. The company has a 180-day compliance period to maintain a $1 bid price for at least 10 consecutive days to avoid potential delisting from the Nasdaq exchange.
Check-Cap (NASDAQ: CHECK), a leading provider of capsule-based diagnostic solutions, has received a non-compliance notice from the Nasdaq Stock Market due to its share price falling below the $1 threshold [1]. The company now has a 180-day compliance period to maintain a $1 bid price for at least 10 consecutive days to avoid potential delisting from the Nasdaq exchange.The non-compliance notice is a common issue for companies listed on the Nasdaq. According to the exchange's listing center, an issue will appear on the list of pending suspension or delisting if it has been suspended for failure to meet continued listing requirements or due to other events [1]. In Check-Cap's case, the share price dip led to the non-compliance notice.
The company's current share price, which has been hovering around $0.80, is a cause for concern for investors. A prolonged period below the $1 threshold could lead to delisting from the Nasdaq exchange. However, it's essential to note that the company has a 180-day grace period to remedy the situation.
Check-Cap's management team has not yet made any public statements regarding the non-compliance notice. However, they have a history of addressing shareholder concerns and working to improve the company's financial performance.
The company's financial performance has been mixed in recent quarters. According to its most recent quarterly report, Check-Cap reported a net loss of $6.5 million, compared to a net loss of $4.2 million in the same period last year [2]. However, the company also reported an increase in revenue, from $1.2 million in the same period last year to $1.7 million in the most recent quarter.
Investors will be closely watching Check-Cap's performance in the coming months to see if the company can maintain a share price above the $1 threshold and avoid delisting from the Nasdaq exchange.
References:
[1] Nasdaq Listing Center. Issuers Pending Suspension or Delisting. https://listingcenter.nasdaq.com/IssuersPendingSuspensionDelisting.aspx
[2] Check-Cap. Form 10-Q for the Quarter Ended September 30, 2022. https://www.sec.gov/edgar/searchedgar/company/0001628280/0001628280-22-001086.htm
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