Altamira Therapeutics regains compliance with Nasdaq’s MBPR

Altamira Therapeutics Ltd. announced that it received a notification letter (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market on December 28, 2023, indicating that the Company has regained compliance with the minimum bid price requirement. As a result, the listing matter has been closed.

On June 26, 2023, the Company was notified by Nasdaq of its failure to maintain a minimum closing bid price of at least $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rule 5550(a)(2) and was given 180 days, or until December 26, 2023, to regain compliance. Effective December 13, 2023, the Company effected a reverse stock split of its common shares at a ratio of 1-for-20, resulting in a total of 1,477,785 outstanding common shares.

The Notice noted that the Company evidenced a closing bid price of its common shares at or greater than $1.00 per share for at least 10 consecutive business days from December 13 through December 27, 2023. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2).

Thanks to its improved equity position, on November 21, 2023 Altamira already regained compliance with the minimum equity requirements for continued listing on Nasdaq. Therefore, Altamira is now again in full compliance with the Nasdaq listing requirements for continued listing.
MB Bureau