RedHill Biopharma Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency
Redhill Biopharma Ltd. - American Depositary Shares (RDHL)
US:NASDAQ Investor Relations:
ir.redhillbio.com/investor-relations
Company Research
Source: PR Newswire
TEL AVIV, Israel & RALEIGH, N.C., Sept. 22, 2023 /PRNewswire/ -- RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced that on September 19, 2023, it received a letter from the Listings Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that, for the thirty consecutive business days from August 7, 2023, to September 18, 2023, the bid price for the Company's American Depositary Shares ("ADSs") had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). The Nasdaq letter is only a notification of deficiency and has no immediate effect on the listing or trading of the Company's ADSs.In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until March 18, 2024, to regain compliance. The letter states that the Nasdaq staff will provide writte
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