IRVINE, Calif., Nov. 25, 2022 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (NASDAQ: NYMX) (the “Company”) reports that on November 18, 2022 the Company received a deficiency letter from NASDAQ stating the Listing Rules require listed securities to maintain and minimum market value of listed securities of $35 million. Based on their review, they advise that the Company is no longer in compliance with Nasdaq Listing Rule 5550(b)(2). The Nasdaq letter states that the Company will be afforded 180 calendar days (until May 17, 2023) to regain compliance with the minimum market value of listed securities requirement. In order to regain compliance, the Company must have a minimum market value of listed securities of at least $35 million or more for a minimum of 10 consecutive business days. If at any time during this 180-day period the Company’s minimum market value of listed securities meets or exceeds $35 million for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance and the matter will be closed. If the Company has not regained compliance by the expiration of the initial 180 calendar days, Nasdaq will then provide written notification to the Company that its ordinary shares are subject to delisting. At that time, the Company may appeal Nasdaq’s delisting determination to a Nasdaq Listing Qualifications Panel.
May 2023 Market Cap Requirement Update
Nov 25, 2022
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