Citius Pharmaceuticals Faces Nasdaq Delisting Due to Non-Compliance with Minimum Bid Price Rule

Reuters

05-31

Citius Pharmaceuticals Faces Nasdaq Delisting Due to Non-Compliance with Minimum Bid Price Rule

Citius Pharmaceuticals Inc. has announced that it received a determination letter from the Nasdaq Stock Market's Listing Qualifications Department on May 29, 2025. The letter informed Citius that it is not in compliance with Nasdaq's requirement to maintain a minimum bid price of $1.00 per share for its common stock, a condition for continued listing on The Nasdaq Capital Market. The company is not eligible for a compliance period due to a reverse stock split within the past year. Citius plans to appeal this determination by June 5, 2025, which will temporarily halt the suspension and delisting of its stock pending a decision by the Nasdaq Hearings Panel. The company intends to present a plan to regain compliance but acknowledges that there is no assurance of a favorable outcome.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Citius Pharmaceuticals Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-049550), on May 30, 2025, and is solely responsible for the information contained therein.

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The letter informed Citius that it is not in compliance with Nasdaq's requirement to maintain a minimum bid price of $1.00 per share for its common stock, a condition for continued listing on The Nasdaq Capital Market. The company is not eligible for a compliance period due to a reverse stock split within the past year. Citius plans to appeal this determination by June 5, 2025, which will temporarily halt the suspension and delisting of its stock pending a decision by the Nasdaq Hearings Panel. The company intends to present a plan to regain compliance but acknowledges that there is no assurance of a favorable outcome.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Citius Pharmaceuticals Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-049550), on May 30, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250530:nNDLbLGH0w:1","article_id":"2539203395","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2539203395","pubTimestamp":1748639749,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Citius Pharmaceuticals Inc. has announced that it received a determination letter from the Nasdaq Stock Market's Listing Qualifications Department on May 29, 2025. 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The company is not eligible for a compliance period due to a reverse stock split within the past year. Citius plans to appeal this determination by June 5, 2025, which will temporarily halt the suspension and delisting of its stock pending a decision by the Nasdaq Hearings Panel. The company intends to present a plan to regain compliance but acknowledges that there is no assurance of a favorable outcome.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Citius Pharmaceuticals Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. 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