DURECT CORP: Nasdaq/NYSE listing notice — DURECT receives Nasdaq notice for bid price below $1.00; 180 days to cure

DURECT CORP

Nasdaq letter dated Dec 21, 2023: closing bid price under $1.00 for 30 consecutive trading days.
Company has until June 18, 2024 to regain compliance by closing at $1.00+ for 10 consecutive days.
If not cured, may request a second 180-day grace period if other listing standards are met.
Failure could lead to delisting; DURECT is evaluating options to remedy the deficiency.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.85

DURECT CORP received a nasdaq noncompliance notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

or the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company is not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from December 21, 2023, or until June 18, 2024, to regain compliance with the Minimum Bid Price Requirement.

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Source: SEC EDGAR

accession 0000950170-23-072642

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