Nasdaq grants Cellyan Biotechnology (Nasdaq: HKPD) bid-price extension
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Cellyan Biotechnology Co., Ltd reported that Nasdaq’s Listing Qualifications Staff has granted an additional 180 calendar day period, until January 11, 2027, to regain compliance with the Nasdaq Minimum Bid Price Requirement for continued listing.
To regain compliance, the company’s Class A ordinary shares must maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days within this period. Nasdaq noted that Cellyan currently meets all other applicable listing standards, including market value of publicly held shares, but the company cautions there is no assurance it will ultimately satisfy the bid price requirement. The shares continue to trade on Nasdaq under the ticker HKPD.
Positive
- Nasdaq granted an additional 180-day grace period, until January 11, 2027, and confirmed Cellyan meets all other applicable Nasdaq initial and continued listing requirements aside from the Minimum Bid Price Requirement.
Negative
- Cellyan remains out of compliance with Nasdaq’s $1.00 Minimum Bid Price Requirement and states there is no assurance it will regain or maintain compliance by January 11, 2027, a condition for continued Nasdaq listing.
Key Figures
Minimum closing bid price: $1.00 per share
Initial compliance period: 180 calendar days
Additional compliance period: 180 calendar days
+2 more
5 metrics
Minimum closing bid price
$1.00 per share
Required bid price for Class A ordinary shares under Nasdaq Listing Rule 5550(a)(2)
Initial compliance period
180 calendar days
First grace period from the January 12, 2026 notification to July 13, 2026
Additional compliance period
180 calendar days
Second grace period granted by Nasdaq’s Listing Qualifications Department starting July 14, 2026
Extended compliance deadline
January 11, 2027
Last day of the additional period to regain compliance with the Minimum Bid Price Requirement
Consecutive trading days required
10 business days
Minimum span that HKPD shares must close at or above $1.00 to regain compliance
Key Terms
Minimum Bid Price Requirement, Nasdaq Capital Market, market value of publicly held shares, reverse share split, +2 more
6 terms
Minimum Bid Price Requirement regulatory
"to regain compliance with the Nasdaq’s minimum $1.00 closing 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 Capital Market regulatory
"requirements for initial listing on the Nasdaq Capital Market, with the exception"
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.
forward-looking statements regulatory
"This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995"
FAQ
What did Cellyan Biotechnology (HKPD) disclose about its Nasdaq listing status?
Cellyan Biotechnology reported it received an additional 180-day period to regain compliance with Nasdaq’s Minimum Bid Price Requirement. The company remains non-compliant with the $1.00 bid rule and warns there is no assurance it will ultimately satisfy the condition for continued listing.
Until when does Cellyan Biotechnology (HKPD) have to restore Nasdaq bid price compliance?
Cellyan has until January 11, 2027 to regain compliance with Nasdaq’s Minimum Bid Price Requirement. Its shares must close at or above $1.00 for at least ten consecutive business days within this additional 180-day extension period.
What is Nasdaq’s Minimum Bid Price Requirement affecting Cellyan Biotechnology (HKPD)?
Nasdaq Listing Rule 5550(a)(2) requires a minimum closing bid price of $1.00 per share for Cellyan’s Class A ordinary shares. Compliance is achieved when the stock trades at or above this level for at least ten consecutive business days within the allowed timeframe.
What measures might Cellyan Biotechnology (HKPD) use to regain bid price compliance?
Cellyan states it will coordinate all feasible compliance solutions, and its notice to Nasdaq includes an intention to cure the deficiency, potentially by effecting a reverse share split. However, it cautions there can be no assurance these efforts will restore or maintain compliance.
Which other Nasdaq listing standards does Cellyan Biotechnology (HKPD) currently meet?
Nasdaq’s determination notes that Cellyan meets the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market, with the sole exception of the Minimum Bid Price Requirement.