Purple Biotech Gets Nasdaq Bid Price Compliance Extension
Ticker: PPBT · Form: 6-K · Filed: Jul 25, 2024 · CIK: 1614744
Sentiment: neutral
Topics: compliance, extension, listing-rules, press-release
Related Tickers: NASDAQ:PBP
TL;DR
Nasdaq gives Purple Biotech more time to fix its stock price, avoiding delisting for now.
AI Summary
Purple Biotech Ltd. announced on July 25, 2024, that it has received an extension from Nasdaq to regain compliance with the minimum bid price rule. The company was previously notified on June 20, 2024, that its stock had fallen below the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.
Why It Matters
This extension provides Purple Biotech with additional time to improve its stock price and avoid delisting from the Nasdaq Capital Market, which is crucial for maintaining investor confidence and access to capital.
Risk Assessment
Risk Level: medium — The company is at risk of delisting from Nasdaq if it cannot meet the minimum bid price requirement within the extended period.
Key Numbers
- $1.00 — Minimum Bid Price (Requirement for Nasdaq listing)
Key Players & Entities
- Purple Biotech Ltd. (company) — Registrant
- Nasdaq (company) — Stock exchange
- June 20, 2024 (date) — Date of initial notification
- July 25, 2024 (date) — Date of press release and extension announcement
- $1.00 (dollar_amount) — Minimum bid price requirement
FAQ
What is the new deadline for Purple Biotech to regain compliance with the Nasdaq minimum bid price rule?
The filing does not specify a new deadline, only that an extension has been received.
When was Purple Biotech initially notified about not meeting the minimum bid price rule?
Purple Biotech was notified on June 20, 2024.
What is the specific rule Purple Biotech is trying to comply with?
Purple Biotech is trying to comply with the Nasdaq's Minimum Bid Price Rule.
What is the minimum bid price required by Nasdaq?
The minimum bid price required by Nasdaq is $1.00.
What action did Purple Biotech take on July 25, 2024?
On July 25, 2024, Purple Biotech issued a press release announcing it received an extension from Nasdaq to regain compliance with the minimum bid price rule.
Filing Stats: 543 words · 2 min read · ~2 pages · Grade level 20 · Accepted 2024-07-25 07:36:15
Filing Documents
- ea0210010-6k_purplebio.htm (6-K) — 14KB
- ea021001001ex99-1_purplebio.htm (EX-99.1) — 13KB
- ex99-1_001.jpg (GRAPHIC) — 4KB
- 0001013762-24-000886.txt ( ) — 34KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. July 25, 2024 PURPLE BIOTECH LTD. By: /s/ Lior Fhima Lior Fhima Chief Financial Officer 2