Biophytis regains compliance with NASDAQ minimum bid price requirement
Biophytis announced that it has received written notification (the “Notification Letter”) from the Nasdaq Stock Market LLC (“NASDAQ”) dated April 14, 2022, indicating that Biophytis has regained compliance with the Nasdaq Global Select Market minimum bid price requirement.
On October 20, 2022, the Nasdaq had notified Biophytis that based upon a closing bid price of less than $1.00 per share for the Company’s American Depositary Shares (“ADSs”) for the prior 30 consecutive business deay period, the Company no longer satisfied Nasdaq Listing Rule 5550(a)(2). Since then Nasdaq has determined that for the last 10 consecutive business days, from March 30, 2023 to April 13, 2023, the closing bid price of the Company’s American Depositary Shares has been at $1.00 per share or greater. Accordingly, Biophytis has regained compliance with the Nasdaq Global Select Market minimum bid price requirement.