Nasdaq grants WORK Medical additional 180 days to meet listing rule

HANGZHOU, China - WORK Medical Technology Group LTD (NASDAQ:WOK) has received a 180-day extension from Nasdaq to regain compliance with the minimum bid price requirement, the company announced Friday. The stock currently trades at $0.09 per share, having lost over 98% of its value in the past year, according to InvestingPro data.

The medical device supplier, which failed to maintain the required $1.00 minimum bid price over 30 consecutive business days, now has until April 6, 2026, to meet the listing standard. The initial compliance period expired on October 6, 2025, following Nasdaq’s first notification on April 7, 2025. InvestingPro analysis indicates the company faces significant financial challenges, with a weak overall financial health score and concerning cash burn rate.

According to the notification letter from Nasdaq dated October 7, WORK Medical qualifies for the additional compliance period as it meets all other applicable listing requirements for the Nasdaq Capital Market.

To regain compliance, the company’s stock must achieve a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days during the extension period. The company has informed Nasdaq of its intention to address the deficiency, potentially through a reverse stock split if necessary.

The notification has no immediate impact on the listing or trading of WORK Medical’s Class A ordinary shares, which will continue to trade on the Nasdaq Capital Market under the symbol "WOK."

WORK Medical, based in Hangzhou, China, develops and manufactures Class I and II medical devices through its subsidiaries. The company’s product portfolio includes 21 products, such as customized masks and other medical consumables, which are sold across China and in more than 30 countries worldwide.

This information is based on a press release statement from the company.

In other recent news, WORK Medical Technology Group LTD has successfully closed a $2.9 million registered direct offering. The company sold approximately 39 million Class A ordinary shares, or pre-funded warrants, to several investors at a price of $0.075 per share. The pre-funded warrants were offered at the same price, with a minimal exercise price of $0.0005 per share. This offering was initially announced with an agreement for the sale of these shares, aiming to generate gross proceeds of approximately $2.9 million. The transaction was anticipated to close around late September 2025, subject to customary closing conditions. These recent developments reflect WORK Medical’s efforts to raise capital through direct offerings.

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