Immutep (NASDAQ: IMMP) received a Nasdaq notice that its American Depositary Shares failed to meet the US$1.00 minimum bid price under Nasdaq Listing Rule 5450(a)(1) for the 30 consecutive business days ended April 24, 2026.
Nasdaq has given an initial 180-calendar-day compliance period through October 26, 2026, during which Immutep must achieve a closing ADS bid of at least US$1.00 for ten consecutive business days to regain compliance. Trading and the company’s ASX listing remain unaffected. The company will monitor the ADS price and consider options but stated there is no assurance it will regain compliance.
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Positive
Granted a 180-day Nasdaq compliance period ending 26 October 2026
ADS trading continues; no immediate suspension or delisting action
Ordinary shares remain listed and trade on ASX without impact
Negative
Closing bid below US$1.00 for 30 consecutive business days
Must meet US$1.00 bid for ten consecutive business days to regain compliance
No assurance the company will regain Nasdaq compliance within period
News Market Reaction – IMMP
-3.20%
8 alerts
-3.20%Session close to close
-3.2%Trough in 4 hr 9 min
$68.13MMarket Cap
0.0xRel. Volume
In the Apr 30 session, IMMP declined 3.20%, reflecting a moderate negative market reaction.
Argus tracked a trough of -3.2% from its starting point during tracking.
Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility.
This announcement highlights Immutep’s non-compliance with Nasdaq’s US$1.00 minimum bid price requir...
Analysis
This announcement highlights Immutep’s non-compliance with Nasdaq’s US$1.00 minimum bid price requirement and a 180-day window to regain compliance. The stock had already been trading well below its 200-day MA and 52-week high, reflecting prior setbacks like the TACTI-004 futility halt alongside positive milestones such as Orphan Drug Designation. Investors may track bid-price trends, upcoming clinical readouts, and further regulatory filings as key indicators of how the listing situation evolves.
Key Figures
Nasdaq minimum bid price:US$1.00 per shareNon-compliance period:30 consecutive business daysInitial compliance window:180 calendar days+5 more
8 metrics
Nasdaq minimum bid priceUS$1.00 per shareNasdaq Listing Rule 5450(a)(1) requirement
Non-compliance period30 consecutive business daysPeriod of sub-US$1.00 closing bid before notice
TACTI-004 Phase III reached 50% enrolment with 378 patients enrolled.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent news has produced mixed reactions: strong selling on negative trial updates and inconsistent responses to positive clinical and regulatory milestones.
Recent Company History
Over recent months, Immutep has reported multiple clinical and regulatory milestones, including Orphan Drug Designation for eftilagimod alfa with a +72.81% reaction and a Phase III futility halt that drove an -82.44% move. Other positive updates, such as conference presentations and Phase I progress, have sometimes seen flat or negative price responses. Against this backdrop of volatility and a sharp drop after the TACTI-004 decision, the Nasdaq bid-price deficiency notice follows a prolonged period of share price weakness.
Key Terms
nasdaq listing rule 5450(a)(1), minimum bid price requirement, american depositary shares, compliance period, +1 more
5 terms
nasdaq listing rule 5450(a)(1)regulatory
"Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain..."
Nasdaq Listing Rule 5450(a)(1) is a continued-listing standard that sets a minimum share price companies must maintain to remain listed on the Nasdaq market—commonly a $1.00 per-share threshold. Investors care because falling below that floor can trigger a compliance review and possible delisting, which is like failing a minimum grade and losing access to the public market; delisting can reduce liquidity, visibility and the ability to raise capital.
minimum bid price requirementregulatory
"regarding non-compliance with the Nasdaq minimum bid price requirement."
A minimum bid price requirement is a rule that a stock must trade above a set price for a specified period to stay listed on an exchange. It matters to investors because falling below that threshold can trigger warnings or removal from the exchange, which can cut liquidity, reduce visibility, and often lead to sharper declines in share value—think of it like a venue’s minimum dress code that, if not met, can bar a performer from the stage.
american depositary sharesfinancial
"the Company’s American Depositary Shares for the 30 consecutive business..."
American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.
compliance periodregulatory
"the Company has been provided an initial compliance period of 180 calendar days..."
A compliance period is a defined stretch of time during which a company must meet specific legal, regulatory, or contractual rules and reporting requirements. Think of it like a scheduled inspection window or a homework deadline: failing to satisfy the rules within that window can trigger fines, restrictions, or extra oversight, so investors watch compliance periods as signals of near-term legal risk, potential costs, and impacts on a company’s operations or cash flow.
continuous disclosure obligationsregulatory
"in accordance with its continuous disclosure obligations."
A legal duty for publicly traded companies to quickly share any material information about their business, finances, operations, or risks with the market so all investors have the same facts at the same time. It matters because timely, equal access to key news helps prices reflect true value, reduces the chance of sudden surprises, and protects investors from unfair advantage—like keeping a public scoreboard updated so everyone sees the current score.
SYDNEY, AUSTRALIA, April 30, 2026 (GLOBE NEWSWIRE) -- Immutep Limited (ASX: IMM; NASDAQ: IMMP) (“Immutep” or “the Company”), advises that it has received a written notification from The Nasdaq Stock Market LLC (Nasdaq) regarding non-compliance with the Nasdaq minimum bid price requirement.
Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of US$1.00 per share. Based on the closing bid price of the Company’s American Depositary Shares for the 30 consecutive business days ended 24 April 2026, the Company does not currently meet this requirement.
The notification has no immediate effect on the listing or trading of the Company’s American Depositary Shares on Nasdaq. In accordance with Nasdaq rules, the Company has been provided an initial compliance period of 180 calendar days, expiring on 26 October 2026, to regain compliance.
If at any time during the compliance period the closing bid price of the Company’s American Depositary Shares is at least US$1.00 per share for a minimum of ten consecutive business days (or such longer period as Nasdaq may require), Nasdaq will notify the Company that compliance has been regained.
The Company intends to monitor the bid price of its American Depositary Shares and will consider available options to regain compliance within the prescribed timeframe. There can be no assurance that the Company will regain compliance during this period.
The Company remains listed on the ASX, and this notification does not affect the trading of its ordinary shares on ASX.
Immutep will keep the market informed of any material developments in accordance with its continuous disclosure obligations.
About Immutep Immutep is a clinical-stage biotechnology company developing novel immunotherapies for cancer and autoimmune diseases. The Company is a pioneer in the understanding and advancement of therapeutics related to Lymphocyte Activation Gene-3 (LAG-3), and its diversified product portfolio harnesses LAG-3’s ability to stimulate or suppress the immune response. Immutep is dedicated to leveraging its expertise to bring innovative treatment options to patients in need and to maximise value for shareholders. For more information, please visit www.immutep.com.
What Nasdaq notice did Immutep (IMMP) receive on April 30, 2026?
Immutep received a notice of non-compliance with Nasdaq's US$1.00 minimum bid price requirement. According to the company, this was based on the closing ADS bid price for the 30 consecutive business days ended April 24, 2026 and starts a compliance process.
How long is Immutep's Nasdaq compliance period and what is the deadline for IMMP?
Immutep has a 180-calendar-day compliance period ending on October 26, 2026. According to the company, Nasdaq gave this initial period for the ADS to meet the minimum bid-price threshold or otherwise satisfy listing requirements.
What must IMMP do to regain Nasdaq compliance within the period?
IMMP must have a closing ADS bid of at least US$1.00 for at least ten consecutive business days. According to the company, Nasdaq will notify it once that condition is met and compliance is regained, subject to any Nasdaq requirements.
Does the Nasdaq notice affect IMMP trading or Immutep's ASX listing?
The notice does not immediately affect trading of IMMP ADS or Immutep's ASX listing. According to the company, ADS continue to trade on Nasdaq and ordinary shares continue to trade on ASX while the compliance period runs.
What options will Immutep consider to address the Nasdaq minimum bid deficiency?
Immutep will monitor the ADS price and consider available options to regain compliance within the timeframe. According to the company, it may evaluate measures but stated there is no assurance it will regain compliance during the period.
