RedHill Biopharma Ltd (RDHL)

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RedHill Biopharma Regains Compliance with Nasdaq Minimum Bid Price Requirement

https://finance.yahoo.com/news/redhill-biopharma-regains-compliance-nasdaq-120000487.html

TEL AVIV, ISRAEL and RALEIGH, N.C., Dec. 12, 2023 /PRNewswire/ -- RedHill Biopharma Ltd. (Nasdaq: RDHL) ("RedHill" or the "Company"), a specialty biopharmaceutical company, today announced that it received confirmation from The Nasdaq Stock Market LLC ("Nasdaq") that it had regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) for continued Nasdaq listing, and is now compliant with applicable listing standards for continued Nasdaq listing. To regain compliance with Nasdaq Listing Rule 5550(a)(2), the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days, which was achieved on December 8, 2023.

As previously announced, on September 22, 2023, the Company reported that it had received notification that for the previous thirty consecutive business days, the bid price for the American Depositary Shares (the "ADSs") had closed below the minimum $1.00 per share requirement for continued listing. On December 11, 2023, the Company received notification from the Nasdaq Listings Qualifications Department that the ADSs had, for the last 10 consecutive business days, a closing bid price at $1.00 per share or greater, and accordingly had regained compliance with Nasdaq Listing Rule 5550(a)(2).