Lixte regains compliance with Nasdaq continued listing requirements

LIXTE Biotechnology announced that it has received confirmation from The Nasdaq Stock Market that it has regained compliance with the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550(a)(2) and currently meets all other applicable criteria for continued listing. On June 24, 2022, Nasdaq notified LIXTE that its common stock failed to maintain a minimum bid price of $1.00 per share over the previous 30 consecutive trading days as required by the Listing Rules of Nasdaq. In order to address this issue, the Company effected a 1-for-10 reverse stock split of its issued and outstanding shares of common stock on Friday, June 2, 2023, as a result of which the Company’s common stock commenced trading on a post-split basis beginning on Monday, June 5, 2023.