Agile Therapeutics granted 180-day extension to regain Nasdaq compliance

Agile Therapeutics announced that it has received written notification from the Listing Qualifications Department of the Nasdaq Stock Market granting the Company’s request for a 180-day extension to regain compliance under Nasdaq Listing Rule 5550(a)(2). The Company now has until August 14, 2023 to meet the requirement. The extension notice from Nasdaq has no immediate effect on the listing or trading of the Company’s shares, which will continue to trade on the Nasdaq Capital Market under the symbol "AGRX." If at any time prior to the Compliance Date, the bid price of the Company’s common stock closes at, or above, $1.00 per share for a minimum of ten consecutive business days, the Nasdaq Listing staff will provide the Company with written confirmation of compliance and the matter will be closed. On August 15, 2022, the Company was notified by the Nasdaq Listing Qualifications Department of Nasdaq of its failure to maintain a minimum bid price of $1.00 per share under Nasdaq Listing Rule 5550(a)(2). The Company originally had 180 calendar days, or until February 13, 2023 to regain compliance. The Company will continue to monitor the bid price of its common stock. If the Company does not meet the minimum bid price requirement prior to the Compliance Date, the Nasdaq Listing Qualifications Department will notify the Company the Company that its common stock will be subject to delisting. At such time, the Company may appeal the delisting determination to the Nasdaq Hearings Panel. There can be no assurance that if the Company does appeal a subsequent delisting determination, that such appeal will be successful.