NuCana plc (NASDAQ:NCNA), (“NuCana” or the “Company”), announced that it has received a written notification (the “Notification Letter”) from the Listing Qualifications Department of the Nasdaq Stock Market, LLC (“Nasdaq”) informing the Company that it has regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) and the matter is closed.
As announced on January 6, 2023, the Company was notified by Nasdaq that it was not in compliance with the Minimum Bid Price Requirement, as the closing bid price of the Company’s American Depositary Shares (the “ADSs”) had been below $1.00 for 30 consecutive business days. To regain compliance with the Minimum Bid Price Requirement, NuCana was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days.
The Notification Letter confirmed that the Company evidenced a closing bid price of the Company’s ADSs on Nasdaq at or greater than the $1.00 per ADS minimum requirement for 10 consecutive business days from January 5, 2023 to January 19, 2023 and that the Company has regained compliance with the Minimum Bid Price Requirement.
