BioXcel Therapeutics announced that it has regained compliance with the Nasdaq Capital Market's minimum closing bid price requirement. The company received written notice from Nasdaq confirming its compliance with Listing Rule 5550(a)(2).
The company had previously been notified on September 16, 2024, that it was not in compliance, as its common stock failed to maintain a minimum closing bid price of $1.00 for 30 consecutive business days. To resolve this, BioXcel Therapeutics was required to maintain a bid price of $1.00 or more for at least 12 consecutive trading days.
This requirement was successfully met on February 26, 2025, thereby resolving the immediate delisting concern related to the bid price. Regaining compliance is an important step for maintaining investor confidence and market access.
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