SPECTRUM PHARMACEUTICALS INC: Nasdaq/NYSE listing notice — Spectrum Pharma receives Nasdaq bid price deficiency notice; 180 days to cure

SPECTRUM PHARMACEUTICALS INC

Nasdaq notified Spectrum on Nov 2, 2022 that bid price below $1.00 for 30 days, violating Minimum Bid Price Rule.
Company has 180 calendar days, until May 2, 2023, to regain compliance by closing at $1.00+ for 10 consecutive days.
If not cured by May 2, 2023, Spectrum may apply for transfer to Nasdaq Capital Market for additional 180-day period.
No immediate effect on listing; Spectrum intends to monitor and consider options, but no decision made yet.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

SPECTRUM PHARMACEUTICALS INC received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

fying the Company that, because the closing bid price for the Company’s common stock has fallen below $1.00 per share for 30 consecutive business days, the Company no longer complies with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive bu

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Source: SEC EDGAR

accession 0000831547-22-000065

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