Evogene Ltd. (NASDAQ: EVGN) received notification from Nasdaq indicating the company's shares have traded below $1.00 for 30 consecutive business days, putting it in violation of Nasdaq Rule 5550(a)(2).

The computational chemistry company has 180 calendar days until September 28, 2026, to regain compliance with the minimum bid price requirement. Evogene can cure the deficiency if its closing bid price reaches at least $1.00 for ten consecutive business days during this period.

If the company fails to demonstrate compliance by the deadline, Nasdaq staff will notify Evogene that its shares will be subject to delisting. The company may be eligible for an additional 180-day compliance period if it meets other continued listing requirements for the Nasdaq Capital Market, excluding the bid price standard.

Evogene stated it may consider available options to cure the deficiency, including potentially approving a reverse stock split. The notification does not immediately affect the company's Nasdaq listing, and shares will continue trading on the Nasdaq Capital Market under the symbol "EVGN" during the compliance period.

The notice has no impact on Evogene's listing on the Tel Aviv Stock Exchange, where shares trade under the ticker "EVGN." The Israel-based company specializes in generative design of small molecules for pharmaceutical and agricultural industries through its ChemPass AI technology platform.

The information is based on a company press release statement.