Date: Apr 03, 2015 Source: 4-Traders (
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On March 30, 2015, Cesca Therapeutics Inc. ("Company") received a notice from the Nasdaq Listing Qualifications Department ("NASDAQ") notifying the Company that for 30 consecutive business days, the bid price of the Company's common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 5550(a)(2). The Company has been provided with 180 calendar days (until September 28, 2015) to regain compliance. In order to regain compliance, at any time before September 28, 2015, the bid price of the Company's common stock must close at a price of at least $1.00 per share for a minimum of 10 consecutive business days. The notice states that NASDAQ will provide the Company with written notification when it has regained compliance.
If compliance cannot be demonstrated by September 28, 2015, then NASDAQ will decide whether the Company meets all applicable standards for initial listing on the Capital Market (except the bid price requirement) based on the Company's most recent public filings and market information. The notice states that, if the Company meets these standards, then the Company may be eligible to have an additional 180 calendar day compliance period. If the Company is not granted an additional 180 day calendar period, then NASDAQ will provide written notification that the Company's securities will be delisted. At that time, the Company may appeal the determination to delist its securities to a Listing Qualifications Panel. There are no assurances that NASDAQ will continue to grant extensions of time within which to achieve compliance.
