Specialty clinical-stage biopharma company SciSparc Ltd. (NASDAQ: SPRC) has received a Nasdaq notice granting the company an additional 180-day compliance period until March 4 to regain compliance with the stock market’s minimum bid price rule.
The decision, per the company, is based on its ability to meet the continued listing requirement for market value of public shares and remaining applicable requirements except for the $1.00 minimum bid price, as well as SciSparc’s written intention statement to cure the mentioned deficiency during the second compliance period. If necessary, it will do so through a reverse stock split.
Importantly, the notification has no immediate effect on the listing or trading of SciSparc’s ordinary shares, which continue to trade under the symbol “SPRC.”
Context
On March 8, shortly after an announcement about SciSparc’s collaboration for an Autism …