Kazia Therapeutics announces receipt of Nasdaq minimum bid notification

Kazia Therapeutics received a deficiency notification from the Listing Qualifications Staff of the Nasdaq Stock Market, dated December 9, 2022, notifying the company that it is not in compliance with the minimum bid price requirement set forth in the Nasdaq Capital Market’s rules for continued listing. The deficiency notification has no immediate impact on the company’s operations or listing. Kazia’s securities will continue to trade as normal on Nasdaq-CM under the ticker KZIA. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of at least US$ 1.00 per share, and failure to do so for a period of 30 consecutive business days triggers a deficiency notice. Based on the closing bid price of Kazia’s American Depository Shares, each representing ten ordinary shares of the company, for the period from October 27, 2022 to December 8, 2022, the company no longer met this requirement as of December 8, 2022. The company will closely monitor the situation and intends to resolve the deficiency and regain compliance with the Nasdaq Listing Rules. The deficiency notice has no impact on the company’s listing on the Australian Securities Exchange, where it continues to trade as normal under the ticker KZA.