Biodexa Prescription drugs Plc BDRX shares are hovering in Tuesday’s after-hours session following the corporate’s announcement that it was granted an extension to show compliance with Nasdaq itemizing necessities.
What Occurred: Biodexa introduced Tuesday the Nasdaq Hearings Panel accredited the corporate’s request for an extension to show compliance with the $1 minimal bid value requirement for continued itemizing.
The corporate introduced it obtained a delisting discover in August and deliberate to submit a well timed attraction to request a listening to earlier than the Nasdaq panel.
Following Tuesday’s announcement, Biodexa will now have till Oct. 31 to show compliance by sustaining a closing value of no less than $1 per share for at least 20 consecutive buying and selling days. Biodexa shares have been buying and selling round $9 on the time of writing.
Biodexa introduced a ratio change on its American Depositary Receipts (ADRs) final month with a purpose to convey the corporate’s inventory value in compliance with Nasdaq itemizing guidelines. The ratio change had the identical impact as a 1-for-20 reverse inventory break up.
Biodexa is a clinical-stage biopharmaceutical firm growing a pipeline of merchandise for the therapy of ailments with unmet medical wants.
BDRX Worth Motion: Biodexa shares have been up 27.74% in after-hours, buying and selling at $6.50 on the time of publication Tuesday, per Benzinga Pro.
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