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Talis Biomedical Corporation (NASDAQ:TLIS), a diagnostic company dedicated to advancing health equity and outcomes through the delivery of accurate infectious disease testing in the moment of need, at the point of care, today announced that it received written notice (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq") dated July 20, 2023, that the Company has regained compliance with the minimum bid price requirement of at least $1.00 per share under Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement"). In order to regain compliance, the Company's common stock was required to maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days which the Company satisfied on July 19, 2023. Accordingly, the Notice stated that Nasdaq now considers the matter closed.
The Notice follows the Company's 1-for-15 reverse stock split approved by stockholders on June 9, 2023, and effected at 5:00 p.m. Eastern time on July 5, 2023, after which the Company's common stock closed at a minimum of $1.00 per share for the 10 consecutive business days ended July 19, 2023.
Posted In: TLIS
