InMed Pharmaceuticals Inc. (INM): Nasdaq/NYSE listing notice — InMed receives Nasdaq minimum bid price deficiency notice; 180 days to cure

InMed Pharmaceuticals Inc.

Nasdaq notified InMed on Sept 19, 2023, that average closing bid price was below $1.00 for 30 consecutive trading days.
Company has 180 calendar days from notice to regain compliance under Nasdaq Listing Rule 5550(a)(2).
No immediate impact on listing; shares continue trading under 'INM' pending cure or appeal.
If not cured, Nasdaq may delist; InMed can appeal to a Hearings Panel with continued trading pending appeal.
No assurance that cure or appeal will be successful.

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 0.95

InMed Pharmaceuticals Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

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

Exact text from the filing

September 19, 2023, the Company received written notice from the listing qualifications department staff of The Nasdaq Capital Market (“Nasdaq”) notifying it that the average closing bid price of the Company's common shares over a period of 30 consecutive trading days was below the minimum $1.00 per share requirement for continued listing on the Nasdaq under Nasdaq Listing Rule 5550(a)(2). In accordance with applicable Nasdaq procedures, the Company has a period of 180 calendar days following the receipt of the written notice mentioned above to cure the deficiency and regain compliance. The no

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InMed Pharmaceuticals Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-078887

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