Celyad receives Nasdaq initial notification on ADS bid price

Celyad Oncology received a letter on April 19th, 2023 from The Nasdaq Stock Market informing the company that the minimum closing bid price per share of its American Depositary Shares representing ordinary shares was below $1.00 for a period of 30 consecutive business days and that the company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1). The Bid Price Notice has no immediate effect on the listing of the company’s ADSs on the Nasdaq Global Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the company has 180 calendar days, or until October 16, 2023, to regain compliance with the Minimum Bid Price Requirement. To regain compliance, the closing bid price of the company’s ADSs must be at least $1.00 per share for a minimum of ten consecutive business days before the Compliance Date.