Clene (CLNN) has released an update to notify the public and investors about listing compliance status.
Clene Inc. received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement as its stock closed below $1.00 for 30 consecutive days. Granted an additional 180 days to meet this requirement, the company’s stock will remain listed on the Nasdaq Capital Market during this period. Clene Inc. has plans to regain compliance, potentially through a reverse stock split, and will monitor its stock price closely. Failure to comply by July 29, 2024, may lead to delisting, though the company can appeal such a decision.
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For a comprehensive understanding of the announcement, you can read the full document here.
