Dyadic gets Nasdaq notices over $1, $35M rules
DYAI has until March 24, 2027, to meet both Nasdaq thresholds; failure to cure can lead to delisting notifications.
Rhea-AI Filing Summary
Dyadic International, Inc. (DYAI) received two Nasdaq deficiency notices on September 25, 2026, after its common stock failed to maintain the minimum bid-price and market-value requirements for 30 consecutive business days. One notice cites the minimum bid price of $1 per share; the other cites the $35 million minimum Market Value of Listed Securities. The notices have no immediate effect on the company’s Nasdaq Capital Market listing.
Dyadic has until March 24, 2027, to meet each test: a closing bid price of at least $1 per share and a closing market value of at least $35 million, each for a minimum of 10 consecutive business days. For the bid-price deficiency, it may be eligible for an additional 180-day period if it meets other listing conditions and gives Nasdaq written notice of its intent to cure, by effecting a reverse stock split if necessary. Failure to regain compliance can lead to delisting notifications, which the company may appeal. Dyadic plans to monitor both measures and evaluate options.
Positive
- None.
Negative
- Two Nasdaq deficiencies could lead to delisting if DYAI does not regain compliance.
8-K Event Classification
Key Figures
Key Terms
minimum bid price requirement regulatory
Market Value of Listed Securities regulatory
Compliance Date regulatory
delisting determination regulatory
FAQ
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How long does DYAI have to regain Nasdaq compliance?
Can DYAI get more time to fix its Nasdaq bid-price deficiency?
What happens if DYAI does not regain Nasdaq compliance?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
(a)
On September 25, 2026, Dyadic International, Inc. (the “Company”) received a deficiency notice (the “Notice”) from the Nasdaq Listing Qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that for the last 30 consecutive business days the Company’s securities have not maintained the minimum bid price of at least $1 per share required by the continued listing requirements of Nasdaq Listing Rule 5550(a)(2). The Notice has no immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until March 24, 2027 (the “Compliance Date”), to regain compliance with the minimum bid price requirement by having the Company’s bid price close at $1 per share or more for a minimum of 10 consecutive business days before the Compliance Date (subject to the Staff’s discretion to extend this period under Nasdaq Listing Rule 5810(c)(3)(H)). If the Company does not regain compliance by the Compliance Date, the Company may be eligible for an additional 180-day period to regain compliance, provided that on the Compliance Date the Company meets the applicable market value of publicly held shares requirement for continued listing and all other applicable standards for initial listing on the Nasdaq Capital Market (except the bid price requirement) based on the Company’s most recent public filings and market information, and provides Nasdaq with written notice of its intent to cure this deficiency (by effecting a reverse stock split, if necessary). However, if it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible for the second compliance period, and the Company does not regain compliance by the Compliance Date, the Staff will provide written notification that the Company’s common stock is subject to delisting.
Additionally, on September 25, 2026, the Company received a separate Notice from the Nasdaq Staff notifying the Company that for the last 30 consecutive business days, the Company’s common stock has not maintained the minimum Market Value of Listed Securities (“MVLS”) of $35 million required by the continued listing requirements of Nasdaq Listing Rule 5550(b)(2). The Notice has no immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days, or until the Compliance Date of March 24, 2027, to regain compliance with the minimum MVLS requirement by having the Company’s MVLS close at $35 million or more for a minimum of 10 consecutive business days before the Compliance Date (subject to the Staff’s discretion to extend this period under Nasdaq Listing Rule 5810(c)(3)(H)). If the Company does not regain compliance by the Compliance Date, the Staff will provide written notification that the Company’s common stock is subject to delisting.
With respect to each deficiency, if the Staff notifies the Company that its common stock is subject to delisting, the Company may appeal the delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq listing rules. However, there can be no assurance that, if the Company receives a delisting notice and appeals the delisting determination by Nasdaq to the panel, such appeal would be successful.
The Company intends to actively monitor the bid price and MVLS of its common stock between now and the applicable Compliance Date and, as appropriate, plans to evaluate available options to resolve the applicable deficiencies and regain compliance with the minimum bid price and MVLS requirements.
Safe Harbor Regarding Forward-Looking Statements
This current report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including those regarding Dyadic International’s expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance, such as the success of our clinical trial and interest in our protein production platforms, our research projects and third-party collaborations, as well as the availability of necessary funding. Forward-looking statements generally can be identified by use of the words “expect,” “should,” intend,” anticipate,” “will,” “project,” “may,” “might,” “potential,” or “continue” or other similar terms or variations of them. Forward-looking statements involve many risks, uncertainties or other factors beyond Dyadic’s control. These factors include, but are not limited to, the following: (i) our history of net losses; (ii) market and regulatory acceptance of our microbial protein production platforms and other technologies; (iii) failure to commercialize our microbial protein production platforms or our other technologies; (iv) competition, including from alternative technologies; (v) the results of nonclinical studies and clinical trials; (vi) our capital needs; (vii) changes in global economic and financial conditions; (viii) our reliance on information technology; (ix) our dependence on third parties; (x) government regulations and environmental, social and governance issues; (xi) intellectual property risks; and (xii) our ability to comply with the listing standards of the Nasdaq. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled “Risk Factors” in Dyadic’s annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in Dyadic’s periodic filings with the SEC, which are accessible on the SEC’s website and at www.dyadic.com. All forward-looking statements speak only as of the date made, and except as required by applicable law, Dyadic assumes no obligation to publicly update any such forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in our expectations.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 25, 2026
| Dyadic International, Inc. | ||
| By: | /s/ Ping Rawson | |
| Name: | Ping Rawson | |
| Title: | Chief Financial Officer | |