Biomerica, Inc. announced that it has been granted an additional 180-day compliance period by the Nasdaq Stock Market LLC to meet the minimum $1.00 per share bid price requirement. This extension allows the company until May 5, 2025, to regain compliance for continued listing on the Nasdaq Capital Market. The company currently meets other continued listing requirements, including the minimum market value of publicly held shares.
The extension was granted based on Biomerica's written notice of its intention to cure the deficiency during the 180-day compliance period. To regain compliance, the company's common stock must close at or above a $1.00 per share bid price for at least ten consecutive business days prior to the May 5, 2025 deadline. Biomerica stated it is actively pursuing steps to meet this requirement and remains committed to maintaining its Nasdaq listing.
Maintaining a Nasdaq listing is crucial for investor visibility and liquidity. The need for an extension indicates that the company's stock price has been below the required threshold, which can be a concern for investors regarding market perception and financial stability.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.