AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
Check-Cap Faces Nasdaq Delisting Threat Over Low Share Price
ByAinvest
Wednesday, Jan 1, 2025 5:11 pm ET1min read
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
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments

No comments yet