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LakeShore Biopharma Co., Ltd (NASDAQ:LSB) ("LakeShore Biopharma" or the "Company"), a global biopharmaceutical company dedicated to discovering, developing, manufacturing, and delivering new generations of vaccines and therapeutic biologics for infectious diseases and cancer, today announced that it received a staff determination letter (the "Letter") from the Nasdaq Stock Market LLC ("Nasdaq"), dated September 11, 2025, notifying that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule") because the closing bid price for the Company's ordinary shares was below $1.00 per share for 30 consecutive business days. Furthermore, the Letter specifies that the Company is not eligible for the standard 180-day compliance period to regain compliance with the Bid Price Rule. The specific basis for this determination, as identified by Nasdaq, is Listing Rule 5810(c)(3)(A)(iv), which states that a company is ineligible for any compliance period if it has effected a reverse stock split within the prior one-year period. The Company effected a 10-for-1 reverse stock split on October 1, 2024.
Accordingly, the Letter indicates that Nasdaq has determined to delist the Company's securities from The Nasdaq Capital Market. Unless the Company requests an appeal, trading in the Company's securities will be suspended at the opening of business on September 22, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission to remove the Company's securities from listing and registration on The Nasdaq Stock Market.
Posted In: LSB
