BioXcel Therapeutics received written notice from The Nasdaq Stock Market LLC on March 20, 2025, indicating non-compliance with Nasdaq Listing Rule 5550(b)(2). This rule requires a minimum market value of listed securities (MVLS).
The company's MVLS had fallen below $35.0 million for 30 consecutive business days, triggering the non-compliance notification. This development poses a new challenge to the company's continued listing on the Nasdaq Capital Market.
Addressing this non-compliance will require the company to implement strategies to increase its market capitalization to meet Nasdaq's requirements, which could involve various corporate actions.
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