Filana flagged by Nasdaq over $1 bid price
Filana Therapeutics has fallen below Nasdaq’s $1.00 bid requirement and now faces a dated window to regain compliance or risk potential delisting.
Rhea-AI Filing Summary
Filana Therapeutics, Inc. (FLNA) reports that Nasdaq has notified the company it is not in compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market because its common stock closed below $1.00 for 30 consecutive business days.
The shares continue to trade on Nasdaq under “FLNA.” Filana has 180 calendar days, until March 16, 2027, to regain compliance by having a closing bid of at least $1.00 for at least 10 consecutive business days. If it still fails to comply, it may receive an additional 180-day period or face a delisting determination, which the company could appeal. Filana states it will monitor its stock price and may consider available options to regain compliance, but there is no assurance it will maintain its Nasdaq listing.
Positive
- None.
Negative
- Filana is non-compliant with Nasdaq’s $1.00 minimum bid price rule after 30 consecutive trading days below that level, creating a risk of delisting if it cannot regain compliance within the allowed periods.
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
Minimum bid price requirement: $1.00 per share
Non-compliance trigger period: 30 consecutive business days
Initial compliance period: 180 calendar days
+2 more
5 metrics
Minimum bid price requirement
$1.00 per share
Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market
Non-compliance trigger period
30 consecutive business days
Period during which FLNA’s bid price closed below $1.00 per share before Nasdaq’s notice
Initial compliance period
180 calendar days
Time allowed until March 16, 2027, to regain Nasdaq minimum bid price compliance
Compliance trading requirement
10 consecutive business days
Minimum span the bid price must be at or above $1.00 to cure the deficiency
Potential second compliance period
180 calendar days
Additional period Nasdaq may grant if FLNA meets criteria after the first period
Key Terms
Nasdaq Capital Market, Nasdaq Listing Rule 5550(a)(2), minimum bid price requirement, Nasdaq Listing Rule 5810(c)(3)(A), +1 more
5 terms
Nasdaq Capital Market market
"for the continued listing on the Nasdaq Capital Market, as set forth"
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.
Nasdaq Listing Rule 5550(a)(2) regulatory
"requirement for the continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2)"
minimum bid price requirement market
"below the minimum $1.00 per share and, as a result, the Company is not in compliance with the $1.00 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.
Nasdaq Listing Rule 5810(c)(3)(A) regulatory
"In accordance with the Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days"
delist regulatory
"Nasdaq will notify the Company of its determination to delist its Common Stock"
Delist means a company’s shares are removed from a public stock exchange so they can no longer be bought or sold on that market. Think of it like a product being taken off a supermarket shelf: the stock becomes harder to find, often leads to less trading, wider price swings, and reduced transparency, which matters to investors because it can limit ability to sell, change the value of holdings, and signal regulatory or financial problems.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What Nasdaq compliance issue did FLNA disclose on September 17, 2026?
Filana Therapeutics disclosed it is not in compliance with Nasdaq Listing Rule 5550(a)(2) because its common stock’s bid price closed below $1.00 per share for 30 consecutive business days, triggering a formal notice from Nasdaq.
How long does FLNA have to regain Nasdaq minimum bid price compliance?
Filana has 180 calendar days, until March 16, 2027, to regain compliance. The bid price must be at least $1.00 per share for a minimum of 10 consecutive business days during this period under Nasdaq Listing Rule 5810(c)(3)(A).
What happens if FLNA is still below $1.00 on March 16, 2027?
If Filana is still non-compliant on March 16, 2027, it may qualify for a second 180-day compliance period. If it does not qualify, or fails again, Nasdaq may determine to delist the common stock, which Filana could then choose to appeal to a Nasdaq hearings panel.
Is FLNA stock still trading on Nasdaq after this notice?
Yes. Filana states the Nasdaq notice has no immediate effect on its common stock, which continues to trade on the Nasdaq Capital Market under the symbol “FLNA” while it attempts to regain compliance.
What actions might FLNA take to regain Nasdaq bid price compliance?
Filana says it intends to actively monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options under Nasdaq rules to regain compliance. It cautions there can be no assurance it will maintain its Nasdaq listing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
