Avinger Inc (NASDAQ:AVGR), a medical device company, has received a notification from the Nasdaq Stock Market indicating non-compliance with the exchange's minimum bid price requirement. On November 20, 2024, the company was informed that its common stock had not met the minimum $1 bid price for 32 consecutive business days, as stipulated by Nasdaq Listing Rule 5550(a)(2).
The company, which is listed on the Nasdaq Capital Market under the ticker symbol AVGR, now has a 180-day period, until May 19, 2025, to regain compliance. To achieve this, Avinger's common stock must maintain a closing bid price of at least $1 for a minimum of ten consecutive business days within this timeframe.
Currently, the notice from Nasdaq does not affect the trading of Avinger's securities on the market. However, if the company fails to meet the required bid price by the end of the 180-day grace period, it may be granted an additional 180 days to comply. This extension is contingent on the company meeting all other initial listing standards, except for the bid price requirement, and on providing written notice of its intent to remedy the deficiency, potentially through a reverse stock split.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.