Alzamend Neuro (ALZN) has released an update to notify the public and investors about listing compliance status.
On February 1, 2024, the Company was notified by Nasdaq that its stock price had fallen below the minimum bid price requirement for 30 consecutive days, violating Listing Rule 5550(a)(2). The Company has until July 30, 2024, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. If non-compliance persists, the Company may be delisted but can request an additional 180 days to remedy the issue, possibly via a reverse stock split. The stock currently remains listed under the symbol “ALZN,” and the Company is considering options to address the deficiency. However, there is no guarantee that it will achieve compliance with Nasdaq’s listing criteria.
For further insights into ALZN stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
