LIPELLA PHARMACEUTICALS INC. (LIPO): Nasdaq/NYSE listing notice — Lipella receives Nasdaq bid price deficiency notice; 180 days to cure

LIPELLA PHARMACEUTICALS INC.

Nasdaq letter dated April 17, 2024, notes LIPO common stock closing bid price below $1.00 for 30 consecutive business days.
Company has until October 14, 2024 to regain compliance; bid price must close at $1.00 or more for 10 consecutive business days.
If not compliant by Oct 14, may qualify for additional 180-day grace period if meeting other Nasdaq Capital Market listing standards.
Lipella intends to monitor bid price and evaluate available options to cure deficiency; no assurance of regaining compliance.

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

LIPELLA 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

April 17, 2024, Lipella Pharmaceuticals Inc. (the “Company”) received a letter (the “Nasdaq Letter”) from the Nasdaq Listing Qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) stating that, based upon the closing bid price of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), for the last 30 consecutive business days, the Company was not in compliance with the requirement to maintain a minimum bid price of $1.00 per share of its Common Stock, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). The Nasdaq Let

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Source: SEC EDGAR

accession 0001753926-24-000805

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