Nasdaq warns RedHill Biopharma (NASDAQ: RDHL) on $1 minimum bid rule

Rhea-AI Filing Summary

RedHill Biopharma Ltd. reported receiving a notice from Nasdaq that its American Depositary Shares have failed to meet the $1.00 minimum bid price requirement for 30 consecutive business days, from February 20, 2026 to April 2, 2026.

Under Nasdaq Listing Rule 5810(c)(3)(A), the company has 180 calendar days, until October 5, 2026, to regain compliance by having its ADS bid price close at or above $1.00 for at least 10 consecutive business days. RedHill’s ADSs remain listed on the Nasdaq Capital Market, and the company states that its operations are not affected by this notice at this time.

Positive

• None.

Negative

• Nasdaq minimum bid-price deficiency introduces a risk to RedHill Biopharma’s continued Nasdaq Capital Market listing if compliance is not regained by October 5, 2026.

Insights

Equity markets and listing standards analyst

RedHill faces Nasdaq $1 bid-price deficiency with a 180-day cure window.

RedHill Biopharma has fallen out of compliance with Nasdaq’s minimum $1.00 bid rule after 30 consecutive trading days below the threshold. It now has 180 calendar days, until October 5, 2026, to restore compliance by sustaining a higher bid.

The notice does not immediately affect trading status; the ADSs remain on the Nasdaq Capital Market and operations are described as unaffected. However, failure to regain compliance could ultimately threaten the listing, potentially impacting liquidity and investor access to the shares.

Key mechanics are clear: achieving a closing bid of at least $1.00 for a minimum of ten consecutive business days before October 5, 2026 would resolve the deficiency. Any future company actions or market movements that lift and sustain the price above this level will determine the outcome.

Key Figures

Minimum bid price requirement: $1.00 per ADS Non-compliance period: 30 consecutive business days Compliance grace period: 180 calendar days +2 more

5 metrics

Minimum bid price requirement $1.00 per ADS Nasdaq Listing Rule 5550(a)(2) threshold

Non-compliance period 30 consecutive business days From February 20, 2026 to April 2, 2026

Compliance grace period 180 calendar days Ends October 5, 2026 under Rule 5810(c)(3)(A)

Required compliant trading streak 10 consecutive business days Bid must close at or above $1.00 per ADS

Notice date referenced April 8, 2026 Date Nasdaq deficiency letter was received

Key Terms

Form 6-K, American Depositary Shares, Nasdaq Capital Market, Nasdaq Listing Rule 5550(a)(2), +1 more

5 terms

Form 6-K regulatory

"FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

American Depositary Shares financial

"the bid price for the American Depositary Shares (“ADSs”) representing the Company’s ordinary shares"

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.

Nasdaq Capital Market financial

"requirement for continued listing on The Nasdaq Capital Market under 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.

Nasdaq Listing Rule 5550(a)(2) regulatory

"below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2)"

Nasdaq Listing Rule 5810(c)(3)(A) regulatory

"In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What Nasdaq notice did RedHill Biopharma (RDHL) receive?

RedHill Biopharma received a Nasdaq notice that its ADSs failed to meet the $1.00 minimum bid price requirement for 30 consecutive business days. This triggers a formal deficiency process under Nasdaq Listing Rule 5550(a)(2) and starts a limited cure period.

How long does RedHill Biopharma have to regain Nasdaq compliance?

RedHill Biopharma has 180 calendar days, until October 5, 2026, to regain compliance. It must achieve a closing bid price of at least $1.00 per ADS for a minimum of ten consecutive business days within this grace period to satisfy Nasdaq requirements.

What happens to RedHill Biopharma’s ADSs during the Nasdaq deficiency period?

During the deficiency period, RedHill Biopharma’s ADSs continue to trade on the Nasdaq Capital Market. The company states that its operations are not affected by the notice at this time, so day-to-day business activities and trading remain unchanged while it seeks compliance.

What specific Nasdaq rules are involved in RedHill Biopharma’s notice?

The notice cites Nasdaq Listing Rule 5550(a)(2), which sets the $1.00 minimum bid price standard, and Rule 5810(c)(3)(A), which provides a 180-day compliance period. RedHill Biopharma must meet these rule requirements to maintain its Nasdaq Capital Market listing status.

What price level must RedHill Biopharma’s ADSs reach to fix the deficiency?

To cure the deficiency, RedHill Biopharma’s ADSs must close at $1.00 per share or higher for at least ten consecutive business days before October 5, 2026. Nasdaq staff would then provide written confirmation that the company has regained compliance with the bid price rule.

Does the Nasdaq notice affect RedHill Biopharma’s existing SEC registrations?

The company states that this report is incorporated by reference into multiple existing Form S-8 and Form F-3 registration statements. The Nasdaq notice itself does not change those registrations; it primarily concerns continued listing standards for the company’s ADSs on the Nasdaq Capital Market.

 UNITED STATES   

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the month of April 2026
Commission File No.:001-35773

REDHILL BIOPHARMA LTD.

(Translation of registrant’s name into English)

21 Ha'arba'a Street, Tel Aviv, 6473921, Israel

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.  

Form 20-F ☒        Form 40-F ☐

RedHill Biopharma Ltd. (Nasdaq: RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company, today announced that on April 8, 2026, it received a letter from the Listings Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, for the last thirty consecutive business days from February 20, 2026 to April 2, 2026, the bid price for the American Depositary Shares (“ADSs”) representing the Company’s ordinary shares had closed below the minimum $1.00 per share requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until October 5, 2026, to regain compliance. The letter states that the Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(a)(2) if at any time before October 5, 2026, the bid price of the Company’s ADSs closes at $1.00 per share or more for a minimum of ten consecutive business days.

RedHill’s ADSs will continue to trade on The Nasdaq Capital Market, and the Company’s operations are not affected by the receipt of the Notice at this time.

This Form 6-K is hereby incorporated by reference into the Company's Registration Statements on Form S-8 filed with the Securities and Exchange Commission on May 2, 2013 (Registration No. 333-188286), on October 29, 2015 (Registration No. 333-207654), on July 25, 2017 (Registration No. 333-219441), on May 23, 2018 (Registration No. 333-225122), on July 24, 2019 (File No. 333-232776), on March 25, 2021 (File No. 333-254692), on May 3, 2021 (File No. 333-255710), on January 11, 2022 (File No. 333-262099), on June 27, 2022 (File No. 333-265845), on June 29, 2023 (File No. 333-273001), on June 20, 2024 (File No. 333-280327), on March 25, 2025 (File No. 333-286082) and on January 22, 2026 (File No. 333-292879), and its Registration Statements on Form F-3 filed with the Securities and Exchange Commission on March 30, 2021 (File No. 333-254848), on August 4, 2023 (File No. 333-273709), on October 13, 2023 (File No. 333-274957), as amended, and on August 9, 2024 (File No. 333-281417).

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, thereunto duly authorized.

	REDHILL BIOPHARMA LTD.
	(the "Registrant")
Date: April 14, 2026	By:	/s/ Dror Ben-Asher
	Name:	Dror Ben-Asher
	Title:	Chief Executive Officer