aibioTNF Pharmaceuticals (now Q/C Technologies) gets Nasdaq minimum bid notice
Tickers QCLS
TNF Pharmaceuticals, now Q/C Technologies, has until September 15, 2025 to bring its closing bid price back to $1.00 for ten business days.
Key facts
- Company
- Q/C Technologies, Inc. (NASDAQ: QCLS)
- News type
- Listings
- Primary source
- Q/C Technologies, Inc. 8-K (2025-03-21)
TNF Pharmaceuticals, Inc. (now Q/C Technologies, Inc.) said it received a letter on March 17, 2025 from the Listing Qualifications Department of the Nasdaq Stock Market. The letter said the company did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).
Nasdaq based its notice on the closing bid price of the common stock for the 30 consecutive business days between January 30, 2025, to March 14, 2025.
The company has a compliance period of 180 calendar days, or until September 15, 2025, under Nasdaq Listing Rule 5810(c)(3)(A). To regain compliance, the stock must close at $1.00 or more for at least ten consecutive business days during that period.
If it does not regain compliance in time, the company may be eligible for an additional 180 calendar days. To qualify, it must meet the market value of publicly held shares requirement and the other initial listing standards of The Nasdaq Capital Market, except the bid price rule. It must also give written notice that it intends to cure the deficiency, by a reverse stock split if necessary.
The letter has no immediate impact on the listing, and at the time the stock traded under the symbol TNFA. If Nasdaq later moves to delist the stock, the company may appeal. The notice is in the company's 8-K filing.