Processa Pharmaceuticals, Inc. (PCSA): Nasdaq/NYSE listing notice — Processa Pharmaceuticals receives Nasdaq deficiency notice for bid price below $1.00 per share

Processa Pharmaceuticals, Inc.

Received Notice on March 22, 2023 that common stock bid price closed below $1.00 for 30 consecutive business days.
Granted 180 days, until September 18, 2023, to regain compliance by closing at $1.00+ for 10 consecutive business days.
If not compliant by Compliance Date, may qualify for second 180-day period or face delisting with appeal rights.
Stock continues to trade on Nasdaq Capital Market under symbol PCSA during this period.
No assurance of regaining compliance; company monitoring bid price and will seek to comply.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Processa 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

March 22, 2023, Processa Pharmaceuticals, Inc. (the “Company”) received a letter (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the previous 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Requirement”). The Notice has no effect at this time on the Company’s common stock, which continues to trade on The Nasdaq C

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Processa Pharmaceuticals, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-008547

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