OSR Holdings (now OSR Health) gets Nasdaq notice after 30 days below $1.00

The notice

OSR Holdings, Inc. (now OSR Health, Inc.; Nasdaq: OSRH) received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC on September 5, 2025. The notice says the closing bid price of the company's common stock had been below $1.00 a share for 30 consecutive business days, which breaches the minimum bid price requirement in Nasdaq Listing Rule 5550(a)(2). The company reported the notice in a Form 8-K dated September 9, 2025, signed by its chief executive, Kuk Hyoun Hwang.

The notice has no immediate effect. The common stock and the warrants, under the symbols OSRH and OSRHW, keep trading on The Nasdaq Capital Market. The company has an initial period of 180 calendar days, until March 4, 2026, to regain compliance. To do so, the closing bid price must be at least $1.00 for a minimum of ten consecutive business days within that period, and Nasdaq would then confirm compliance in writing.

If the price stays below $1.00

If the company has not regained compliance by March 4, 2026, it may qualify for a second 180-day period. To get it, the company must meet the market value of publicly held shares requirement and the other initial listing standards of the Capital Market, apart from the bid price test. It must also give Nasdaq written notice that it intends to cure the shortfall, including by a reverse stock split if necessary. A reverse split combines existing shares into fewer shares.

If the company is not eligible for the second period, Nasdaq will send a notice that its securities are subject to delisting, and the company may appeal that determination. The 8-K says the company "intends to actively monitor" its closing bid price and "will consider available options" to regain compliance. It does not name any option, and it does not say whether a reverse split is planned. It also gives no closing prices, so the filing does not show how far the stock sat below $1.00 during the 30 business days Nasdaq cited.

The business behind the listing

The 2024 annual report, filed April 22, 2025, describes OSR as a global healthcare holding company with operations in South Korea and Switzerland and an office in the United States. The company says it wants to identify, lead and support subsidiaries based on innovative research, and that it hopes to realize more liquidity through the sale of those subsidiaries from time to time. It calls its structure hub-and-spoke, with a central executive team working alongside each subsidiary's management.

The report says the company has three subsidiaries, and that two of them have their own drug development pipelines. One works on T-cell immunotherapies based on a live attenuated bacterial vaccine strain. A second works on a platform for recombinant biologics. The third makes neurovascular surgical devices. The patent table lists seven issued families: six owned by Vaximm, with expiration years between 2032 and 2038, and one exclusively licensed family covering designer ligands of the TGF-beta superfamily, which expires in 2030.

What the filing does not show

The 8-K gives no revenue, cash or net loss figure, so it does not show whether the company can fund the programs it describes while it works to lift its share price. For a company whose listing now depends on its share price, the 8-K is silent on what the company plans to do with its 180 days.

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