ADIAL PHARMACEUTICALS, INC. (ADIL): Nasdaq/NYSE listing notice — Adial Pharmaceuticals receives Nasdaq extension to Aug 28, 2023 to regain $1.00 bid price compliance

ADIAL PHARMACEUTICALS, INC.

Nasdaq granted 180-day extension until August 28, 2023 to meet minimum $1.00 closing bid price.
Company failed to regain compliance by original deadline of February 27, 2023.
Compliance can be achieved if stock closes at $1.00+ for 10 consecutive business days before deadline.
If not compliant by Aug 28, 2023, Nasdaq will delist; company may appeal.
Company considering reverse stock split among options to regain 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 0.9

ADIAL PHARMACEUTICALS, INC. received a nasdaq extension granted notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: extension granted
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

February 28, 2023, the Company received written notification from Nasdaq granting the Company’s request for a 180-day extension to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achieved automatically and without further action if the closing bid price of the Company’s common stock is at or above $1.00 for a minimum of ten consecutive business days at any time prior to August 28, 2023, Nasdaq will notify the Company that it has regained compliance with the Minimum Bid Price Requirement and the matter will be closed. If the Company does not regain compliance with the M

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Source: SEC EDGAR

accession 0001213900-23-016445

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