Purple Biotech Regains Nasdaq Bid Price Compliance
Ticker: PPBT · Form: 6-K · Filed: Oct 2, 2024 · CIK: 1614744
Sentiment: bullish
Topics: compliance, listing, nasdaq
Related Tickers: PRPL
TL;DR
Purple Biotech back in Nasdaq's good graces on bid price, no more delisting fears for now.
AI Summary
On October 1, 2024, Purple Biotech Ltd. received confirmation from Nasdaq that it had regained compliance with the minimum bid price requirement. The company had previously been notified on June 27, 2024, that its American Depositary Shares (ADSs) were not meeting the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market.
Why It Matters
Regaining compliance with Nasdaq's minimum bid price requirement is crucial for Purple Biotech to maintain its listing on the exchange, which is important for investor confidence and access to capital.
Risk Assessment
Risk Level: medium — While regaining compliance is positive, the company's ability to sustain the bid price and its underlying business performance remain key factors.
Key Numbers
- $1.00 — Minimum Bid Price (The threshold Purple Biotech needed to meet to regain compliance on Nasdaq.)
Key Players & Entities
- Purple Biotech Ltd. (company) — Registrant
- The Nasdaq Stock Market LLC (company) — Exchange
- October 1, 2024 (date) — Date of Nasdaq confirmation
- June 27, 2024 (date) — Date of initial non-compliance notification
- $1.00 (dollar_amount) — Minimum bid price requirement
FAQ
What was the specific reason Purple Biotech was initially non-compliant with Nasdaq listing rules?
Purple Biotech's American Depositary Shares (ADSs) were not meeting the minimum bid price requirement of $1.00 for continued listing on The Nasdaq Capital Market.
When did Purple Biotech receive confirmation of regaining compliance?
The company received confirmation on October 1, 2024.
What is the significance of regaining compliance with the minimum bid price requirement?
It allows Purple Biotech to maintain its listing on The Nasdaq Capital Market, avoiding potential delisting.
What was the previous notification date regarding non-compliance?
Purple Biotech was notified of its non-compliance on June 27, 2024.
What is the company's principal executive office address?
The company's principal executive offices are located at 4 Oppenheimer Street, Science Park, Rehovot 7670104, Israel.
Filing Stats: 619 words · 2 min read · ~2 pages · Grade level 20 · Accepted 2024-10-02 16:00:15
Key Financial Figures
- $1.00 — tary Shares (the “ADSs”) of $1.00 per ADS or more for at least 10 consecu
Filing Documents
- ea0216575-6k_purple.htm (6-K) — 13KB
- 0001213900-24-084626.txt ( ) — 15KB
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. October 2, 2024 PURPLE BIOTECH LTD. By: /s/ Lior Fhima Lior Fhima Chief Financial Officer 2