Intelligent Bio Solutions Inc. (“Intelligent Bio Solutions” or the “Company”) (NASDAQ:INBS), a life sciences company developing and delivering intelligent, non-invasive, real-time testing solutions, today announced that on February 27, 2023, the Company received a notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that it has regained compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).
As a result, the Company is now in compliance with the Minimum Bid Price Requirement for continued listing and Nasdaq considers the matter closed.
The Company was previously notified by Nasdaq on March 17, 2022, that it was not in compliance with the Minimum Bid Price Requirement for continued listing on the Nasdaq because the Company failed to maintain a minimum bid price per share for its common stock of $1.00 for 30 consecutive business days preceding the date of that notice. To regain compliance, the Company was required to maintain a minimum bid price of $1.00 per share for at least 10 consecutive trading days. This requirement was met on February 24, 2023.
