Virax Biolabs Group Limited (“Virax” or the “Company”) (NASDAQ:VRAX), an innovative diagnostics company focused on the detection of immune responses and diagnosis of viral diseases, announced today that Nasdaq has approved the Company’s request for a 180-day extension to meet the $1 minimum bid price requirement.
On January 30, 2023, Nasdaq provided notice to the Company that based on the previous 30 consecutive business days, the Company’s listed common stock no longer met the minimum $1 bid price per share requirement as set forth in Nasdaq Listing Rule 5810(c)(3)(A)(ii). The Company was provided 180 calendar days, or until July 31, 2023, to regain compliance.
Nasdaq has determined that the Company is eligible for an additional 180 calendar day period, or until January 29, 2024, to regain compliance. If at any time during this additional time period the closing bid price of the Company’s security is at least $1 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance.
