BioNexus Gene Lab (BGLC) shares were up more than 170% in recent Thursday trading after the company disclosed that it was granted temporary exception until May 1 to regain compliance with the Nasdaq minimum bid price rule.
The company said in a regulatory filing Thursday that it plans to implement a reverse stock split, if needed, by April 7, to comply with the listing rule.
Additionally, the company said Nasdaq's updated rules for reverse stock splits beginning Jan. 30 require the company to provide details, including shareholder approval, at least 10 days before the reverse stock split's market effective date, according to the filing.
Price: 0.76, Change: +0.48, Percent Change: +170.68
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