Scinai Immunotherapeutics receives Nasdaq bid price deficiency notice

Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) received notification from Nasdaq on March 12 that the company's American Depositary Shares fell below the exchange's minimum bid price requirement of $1.00 per share for 30 consecutive business days.

The Jerusalem-based biopharmaceutical company stated the notification does not immediately affect the listing or trading of its shares on the Nasdaq Capital Market. Under Nasdaq Listing Rule 5810(c)(3)(A), Scinai has 180 calendar days until September 8, 2026, to regain compliance with the minimum bid price requirement.

The company can achieve compliance if its closing bid price reaches at least $1.00 for a minimum of ten consecutive business days during this period. Nasdaq would then provide written confirmation that the matter is resolved.

Scinai develops immunology therapies and holds therapeutic candidates licensed from the Max Planck Society and PinCell S.r.l. The company also operates Scinai Biopharma Services Ltd., a contract development and manufacturing organization that provides services to biotechnology and pharmaceutical companies.

The company stated it will monitor its share price and evaluate available options to meet Nasdaq's minimum bid price requirement, according to the press release.

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