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: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.