Evelo Biosciences, Inc.: Nasdaq/NYSE listing notice — Evelo Biosciences receives Nasdaq notice for bid price below $1; 180 days to cure

Evelo Biosciences, Inc.

Nasdaq letter on March 16, 2023: stock closed below $1.00 for 30 consecutive business days.
Initial compliance period ends Sept 12, 2023; must close at $1.00+ for 10 consecutive days.
If not cured, may transfer to Nasdaq Capital Market for an additional 180-day period.
Company may consider a reverse stock split, subject to board and stockholder approval.

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 0.9

Evelo Biosciences, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5450(a)(1)

Exact text from the filing

March 16, 2023, Evelo Biosciences, Inc. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the bid price for the Company’s common stock, par value $0.001 per share (the “Common Stock”), had closed below the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Bid Price Requirement”). The letter has no immediate effect on the listing of the Common Stock on th

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Source: SEC EDGAR

accession 0001694665-23-000027

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