Nasdaq gives Citius (NASDAQ: CTXR) more time before $1 delisting risk
Rhea-AI Filing Summary
Citius Pharmaceuticals, Inc. (CTXR) reports that Nasdaq has granted an extension through February 8, 2027 to regain compliance with the $1.00 per share minimum bid price requirement for continued inclusion on the Nasdaq Capital Market under Listing Rule 5550(a)(2), the Bid Price Rule. The company will be deemed back in compliance if its common stock closes at or above $1.00 for at least ten consecutive business days before that deadline, after which Nasdaq would send written confirmation. If Citius does not regain compliance by the deadline, Nasdaq will issue a notice that its common stock is subject to delisting, and Citius may appeal to a Nasdaq hearings panel. CTXR shares continue to trade on the Nasdaq Capital Market, and the company states it is evaluating options to regain compliance but notes there is no assurance it will do so.
Positive
- None.
Negative
- Risk of Nasdaq delisting if bid price non-compliant by February 8, 2027, which could follow if the stock does not close at or above $1.00 for at least ten consecutive business days; the company notes there is no assurance it will regain compliance.
8-K Event Classification
Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
1 item
Item 3.01
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Securities
The company received a delisting notice, failed to satisfy a continued-listing rule or standard, or transferred its listing.
Key Figures
Extension deadline: February 8, 2027
Minimum bid price requirement: $1.00 per share
Compliance measurement period: ten consecutive business days
+1 more
4 metrics
Extension deadline
February 8, 2027
Date through which CTXR has to evidence compliance with Nasdaq Listing Rule 5550(a)(2)
Minimum bid price requirement
$1.00 per share
Bid Price Rule threshold for continued inclusion on the Nasdaq Capital Market
Compliance measurement period
ten consecutive business days
Required period during which CTXR stock must close at or above $1.00 per share
Trading symbol
CTXR
Symbol under which Citius common stock trades on The Nasdaq Capital Market
Key Terms
Bid Price Rule, Nasdaq Capital Market, continued inclusion, delisting
4 terms
Bid Price Rule regulatory
"compliance with the $1.00 per share requirement for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”)"
Nasdaq Capital Market market
"continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2)"
The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.
continued inclusion regulatory
"requirement for continued inclusion on the Nasdaq Capital Market"
delisting regulatory
"our common stock is subject to delisting"
Delisting occurs when a company's stock is removed from a stock exchange and is no longer available for trading there. This can happen voluntarily or because the company no longer meets the exchange's requirements. For investors, delisting means they can no longer buy or sell shares of that company on the exchange, which may make it more difficult to sell their investments or affect the stock's value.
FAQ
What did Citius Pharmaceuticals (CTXR) announce about its Nasdaq listing status?
Citius Pharmaceuticals disclosed that Nasdaq granted an extension through February 8, 2027 to regain compliance with the $1.00 minimum bid price requirement for continued inclusion on the Nasdaq Capital Market under Listing Rule 5550(a)(2).
What is required for CTXR to regain compliance with Nasdaq’s Bid Price Rule?
CTXR must have its common stock close at $1.00 per share or more for at least ten consecutive business days before February 8, 2027. If achieved, Nasdaq will provide written confirmation that the company complies with the Bid Price Rule.
What happens if Citius Pharmaceuticals (CTXR) fails to meet the bid price requirement by February 8, 2027?
If CTXR does not regain compliance by February 8, 2027, Nasdaq will issue written notice that its common stock is subject to delisting. At that time, Citius may appeal the determination to a Nasdaq hearings panel.
Is Citius Pharmaceuticals’ stock still trading on Nasdaq, and under what symbol?
Citius Pharmaceuticals’ common stock continues to trade on The Nasdaq Capital Market under the symbol “CTXR”. The extension notice does not affect the current listing status at this time.
How is Citius Pharmaceuticals (CTXR) responding to the Nasdaq bid price issue?
Citius states that it is evaluating its options for regaining compliance with the Bid Price Rule and notes that there can be no assurance it will be able to regain compliance, even if it meets other listing requirements.
AI-generated analysis. How Rhea-AI works. Not financial advice.
