Shares of low-float micro-cap inventory Exicure Inc XCUR are rocketing increased in Wednesday’s after-hours session after the corporate introduced that it obtained an extension from the Nasdaq Hearings Panel.
What Occurred: After the market shut, Exicure introduced that it was granted an extension for continued itemizing on the Nasdaq trade. The early-stage biotechnology firm should now present compliance with all relevant standards for continued itemizing on the Nasdaq by Nov. 14.
Exicure introduced on the finish of final week that it regained compliance with Nasdaq’s minimal bid worth requirement and exchanged roughly $1 million of debt for fairness at a conversion worth of $3 per share.
The corporate on Wednesday stated it’s diligently working to fulfill the remaining phrases of the Nasdaq Panel’s requests to be able to guarantee Exicure’s continued itemizing.
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Exicure shares have greater than doubled in prolonged buying and selling and are actually hitting new 52-week highs. Exicure is taken into account a low-float inventory with simply 1.118 million shares obtainable for public buying and selling, in line with Benzinga Pro.
The corporate additionally had a market cap of lower than $4 million as of Wednesday’s shut.
Low-float, micro-cap shares might be extraordinarily unstable, which can assist clarify a few of Wednesday’s outsized transfer.
XCUR Value Motion: Exicure shares had been up 206.55% in after-hours, buying and selling at $7.10 on the time of publication Wednesday, in line with Benzinga Pro.
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