(Boursier.com) — Biophytis SA has received a “Letter of Notification” from Nasdaq Stock Market LLC dated November 15, 2023, indicating that the closing price on Nasdaq of
its American Depositary Shares (“ADSs”) had been less than $1 per ADS for a period of 30 consecutive trading days. In fact, it no longer satisfied the Nasdaq Listing Rule regulations.
This Notification Letter has not no immediate effect and the ADSs continue to be publicly traded on the Nasdaq Global Select Market under the symbol “BPTS”.
In accordance with Nasdaq listing regulations, Biophytis benefits from a grace period of 180 days, until May 13, 2024, to return to compliance.
Biophytis continues to monitor the closing price of its ADSs and intends to study all options during this period to return to compliance with the regulations on the minimum price of the Nasdaq Global Select Market.
This pricing compliance deficiency will be resolved if the closing price of the ADSs is greater than $1 per ADS for a period of at least 10 consecutive trading days during the grace period. If Biophytis fails to return to compliance during this first 180-day grace period, it may be eligible, if it meets the other conditions for listing on Nasdaq, for a second 180-day grace period.
Biophytis confirms its “intention to return to compliance during this period and is studying all options to this effect”.
During this period, the Company’s ADSs continue to be listed on the Nasdaq Global Select Market and the Company’s activities are not impacted by the receipt of this Notification Letter.
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