Acorda Therapeutics, Inc.: Nasdaq/NYSE listing notice — Acorda receives Nasdaq extension until June 20, 2023 to meet $1 bid price rule

Acorda Therapeutics, Inc.

Nasdaq Hearings Panel grants extension to June 20, 2023 to regain compliance with $1 minimum bid price.
To regain compliance, bid price must close at or above $1 for at least 10 consecutive trading days.
If not achieved organically, company may effect a reverse stock split (1:2 to 1:20) authorized by shareholders in Nov 2022.
CEO cites business plan focused on Inbrija growth, Ampyra maintenance, and fiscal discipline to drive organic compliance.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Acorda Therapeutics, Inc. received a nasdaq extension granted notice regarding minimum bid price.

Exchange: nasdaq
Notice: extension granted
Deficiency: minimum bid price

Exact text from the filing

February 14, 2023, the Company received notice from Nasdaq granting the Company’s request to extend the period for the Company to regain compliance with the Minimum Bid Requirement until June 20, 2023. The Nasdaq Hearings Panel’s decision is subject to the Company’s continued compliance with applicable Nasdaq listing requirements and may be reviewed by the Nasdaq Listing and Hearing Review Council on its own within 45 days. The Company will actively monitor the closing bid price of its common stock and evaluate available options to regain compliance with the Minimum Bid Requirement, including

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Source: SEC EDGAR

accession 0001193125-23-039919

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