StreetInsider.com Top Tickers, 06/09/2022
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Altamira Therapeutics Ltd. (NASDAQ: CYTO) today announced that on June 2, 2022, the Company received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) advising that the minimum bid price per share for its common stock was less than $1.00 for a period of 30 consecutive business days and the Company has failed to meet the minimum offering price requirement set forth in Nasdaq listing rule 5550(a)(2) ).
The shares will continue to trade continuously under its ticker symbol “CYTO”. The Company now has a compliance period of 180 calendar days (the “Compliance Period”) to regain compliance with the Nasdaq minimum bid price requirement. If at any time during the Compliance Period the closing bid price per Company common stock is at least $1.00 for at least 10 consecutive business days, Nasdaq will provide Altamira Therapeutics with written confirmation of compliance and the case will be closed.
If Altamira Therapeutics does not return to compliance at the end of the compliance period, the company may be eligible for an additional 180 days. To qualify, the Company will be required to meet the continuous listing requirement for publicly held stock market value and all other initial listing standards for the Nasdaq Capital Market, except for the requirement offer price, and will be required to provide written notice of its intention to make up the shortfall during the second compliance period, by reverse stock split, if necessary.
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