aibioConnect Biopharma regains compliance with Nasdaq $1.00 minimum bid price rule
Tickers CNTB
The company's American Depositary Shares closed at $1.00 or more for 10 straight business days, ending a deficiency first flagged on March 24, 2025.
Key facts
- Company
- Connect Biopharma Holdings Limited (NASDAQ: CNTB)
- News type
- Listings
- Primary source
- Connect Biopharma Holdings Limited 8-K (2025-07-17)
Connect Biopharma Holdings Limited said on July 17, 2025 that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC confirming it has regained compliance with the minimum bid price requirement.
Nasdaq Listing Rule 5450(a)(1) requires securities listed on the Nasdaq Global Market to keep a bid price of at least $1.00 per share. Connect trades on Nasdaq through American Depositary Shares, or ADSs, each representing one ordinary share.
In a letter dated March 24, 2025, Nasdaq told Connect that its ADSs had closed below $1.00 per share for the last 30 consecutive business days. The company was given 180 calendar days, or until September 22, 2025, to fix the shortfall.
To regain compliance, the ADSs had to close at $1.00 per share or greater for at least 10 consecutive business days. The company said that requirement was met on July 15, 2025, "and the matter is now closed."
The company reported the letter in an 8-K filing. The ADSs trade on The Nasdaq Global Market under the symbol CNTB.