Summary by Moomoo AI
Virpax Pharmaceuticals, Inc. received a notification from Nasdaq on June 28, 2024, indicating that the company's common stock had not met the minimum closing bid price of $1.00 per share over the past 30 consecutive business days, from May 15, 2024, to June 27, 2024. This failure to comply with Nasdaq Listing Rule 5550(a)(2) does not immediately affect the trading of Virpax's common stock, which continues to be listed under the ticker VRPX. The company has been granted a 180-day period, until December 26, 2024, to regain compliance. To achieve this, the closing bid price must be at or above $1.00 for at least ten consecutive business days during this period. Virpax Pharmaceuticals is considering measures, including a potential reverse stock split, to address the compliance issue and maintain its listing on The Nasdaq Capital Market.
