PolyPid receives noncompliance notification from Nasdaq

PolyPid announced it has received a written notice from Nasdaq Stock indicating that the company is not in compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5550, which requires listed securities to maintain a minimum bid price of $1.00 per share. Under Nasdaq Listing Rule 5810, the company has been granted a period of 180 calendar days to regain compliance with the minimum bid price requirement. The notice has no immediate effect on the company’s Nasdaq listing or the trading of its ordinary shares, and during the grace period, as may be extended, the company’s ordinary shares will continue to trade on Nasdaq under the symbol (PYPD).