Cyclo Therapeutics (CYTH) said Monday it was notified by the Nasdaq of its noncompliance with the exchange's listing rules for continued listing as it had not yet held an annual shareholder meeting within 12 months of the end of the company's fiscal yearend.

The company has until Feb. 24 to submit a plan to regain compliance with the rules, according to a regulatory filing.

If Nasdaq accepts the plan, it may give Cyclo Therapeutics an exception until June 30 to regain compliance, the company said.

Shares of Cyclo Therapeutics were up 4.4% in recent trading.

Price: 0.66, Change: +0.03, Percent Change: +4.43