Summary by Moomoo AI
Heart Test Laboratories, Inc., a company listed on The Nasdaq Stock Market, has received an additional 180-day extension from Nasdaq to meet the Minimum Bid Price Requirement. The extension, granted on January 30, 2024, allows the company until July 29, 2024, to regain compliance with the $1 per share minimum bid price rule. Failure to meet this requirement within the extended period could lead to delisting, although the company would have the right to appeal such a decision. Heart Test Laboratories is considering measures, including a potential reverse stock split, to address the compliance issue. However, there is no certainty that the company will achieve compliance within the new timeframe. This development follows an initial notification from Nasdaq on August 2, 2023, regarding the company's non-compliance based on its stock's closing bid price over the preceding 30 business days.
