Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
Applied Therapeutics (NASDAQ:APLT), Inc., a pharmaceutical company currently trading at $0.60 with a market capitalization of $71 million, has been notified by the Nasdaq Stock Market of non-compliance with the minimum bid price requirement, putting its listing at risk. According to InvestingPro data, the stock has experienced significant volatility, with the notice, received on Thursday, February 7, 2025, indicating that the company’s common stock had closed below the $1.00 minimum bid price for 30 consecutive business days.
Despite the warning, the company’s stock will continue to be listed on the Nasdaq Global Market for the time being. The challenge appears significant, as InvestingPro analysis shows the stock has fallen over 90% in the past six months, with a 52-week range of $0.54 to $10.62. Applied Therapeutics has been granted a 180-day period, ending on August 6, 2025, to regain compliance. To do so, the company’s stock must maintain a closing bid price of at least $1.00 per share for at least 10 consecutive business days before the deadline.
If the company fails to meet the requirement by August 6, it may be granted an additional 180 days if it opts to transfer its stock listing to the Nasdaq Capital Market. While the company maintains a current ratio of 1.06 and holds more cash than debt on its balance sheet, there is no certainty that it will achieve compliance or maintain other Nasdaq listing standards.
This development comes as a significant challenge for Applied Therapeutics, which specializes in pharmaceutical preparations. The company’s executive team, led by Interim CEO and CFO Les Funtleyder, has yet to decide on a specific course of action to address the delisting risk.
Investors are advised to monitor the situation closely, as the company’s ability to regain compliance with Nasdaq’s listing requirements could influence its financial stability and market presence. This report is based on a statement from a press release.
In other recent news, Applied Digital Corporation reported robust fiscal second quarter results, with both revenue and adjusted earnings surpassing analyst predictions. The company posted adjusted earnings per share of -$0.06, outperforming the analyst consensus of -$0.14. Revenue was reported at $63.9 million, a 51% YoY increase, slightly above estimates of $63.39 million.
Key growth drivers were the Cloud Services segment, with revenue surging 523% YoY to $27.7 million, and the Data Center Hosting business, which generated $36.2 million in revenue for the quarter. The company also reported a net loss of $138.7 million for the quarter, inclusive of significant non-cash charges related to debt conversion and fair value adjustments.
In other developments, Applied Digital announced a $5 billion perpetual preferred equity financing facility with Macquarie Asset Management for its high-performance computing business. This agreement is expected to position the company as a top-tier HPC data center operator in the United States. While the company did not provide specific financial guidance, it expressed confidence in capitalizing on the growing demand for power and data centers to support AI and high-performance computing applications.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.